Letter of Credit (L/C)

What is letter of credit? Click Here
Types of Letter of Credit:
Although L/Cs come in numerous types, the two most basic ones are (1) Revocable-credit letter of credit and (2) Irrevocable-credit letter of credit, which comes in twoversions (a) Confirmed irrevocable letter of credit and (b) Not-confirmed irrevocable letter of credit.