Definitions for "Revocable Letter of Credit"
A revocable Letter of Credit can be revoked without the consent of the Exporter, meaning that it may be canceled or changed up to the time the documents are presented.
Letter of credit that can be amended or canceled at any time without notice to or consent of the beneficiary. A letter of credit that is subject to the UCP500 or to US law is revocable only if it clearly specifies so.
Assurance of funds issued by a bank that can be canceled at any time without prior notification to the beneficiary.