Irrevocable Letter Of Credit (ILOC)
A letter of credit that can't be canceled. This guarantees that a buyer's payment to a seller will be received on time and for the correct amount.

Investopedia Says:
This is often used in international transactions.

Related Terms:
International Financial Reporting Standards - IFRS
Letter of Credit
Trade Finance

• Secured Note
• Secure Option ARM
• Securities Act Of 1933
• Securities And Exchange Board Of India (SEBI)
• Securities And Exchange Board Of India (SEBI)
• Securities And Exchange Commission (SEC)
• Securities And Exchange Commission (SEC)
• Securities Exchange Act Of 1934
• Securities Industry And Financial Markets Association (SIFMA)
• Securities Industry And Financial Markets Association (SIFMA)
• Securities Industry Regulatory Authority (SIRA)
• Securities Industry Regulatory Authority (SIRA)
• Securities Investor Protection Corporation (SIPC)
• Securities Investor Protection Corporation (SIPC)
• Securities Lending
• Securities Transfer Association Medallion Program (STAMP)
• Securities Transfer Association Medallion Program (STAMP)
• Securitization
• Securitize
• Security
• Security Analyst
• Security Market Line (SML)
• Security Market Line (SML)
• SEC Yield
• Seed Capital