Cannot be rescinded or changed. An irrevocable trust is a necessity for exempt approval of a group pension scheme.
An agreement which cannot be cancelled unless all the parties concerned agree to do so. For instance, an irrevocable letter of credit, once issued, cannot be amended or cancelled without the agreement of all the named parties. Français: Irrévocable Español: Irrevocable
Unalterable, not to be changed or annulled.
A decision that cannot be changed. An irrevocable gift cannot be taken back once it has been made.
cannot be changed, e.g. irrevocable beneficiary disallows any change in beneficiary on an insurance policy.
The terms of the trust or gift cannot be changed.
Indicating something that cannot be changed or terminated.
When a trust cannot be changed after you've established it, the trust is irrevocable. This is an essential characteristic in having the assets you give to the trust removed from your estate.
A decision that you cannot change or take back.
An irrevocable trust is a trust which cannot be changed or cancelled once it is set up without the consent of the beneficiary. Contributions cannot be taken out of the trust by the settlor. Irrevocable trusts offer more tax advantage that revocable trusts don't, by enabling a person to give money away even before they die.
A Trust a Grantor establishes that cannot be changed by the grantor once it has been executed. An irrevocable trust may, however, still be changed by an independent party or court depending on the terms of the trust.
This means that once the transfer has been made, it cannot be changed by the person making the transfer. This is commonly referred to in the context of a trust.
Documentary credit which cannot be cancelled without the acceptance of the beneficiary and any confirming bank
An instrument that, once established, cannot be modified or cancelled without the agreement of all parties concerned.
A payment order is irrevocable as soon as it is issued on the network. Only a technical rejection may cancel the issuer's irrevocable commitment to pay. This irrevocability means that the issuer participant is committed to the payment issued without any possible cancellation (save agreement of all parties concerned). The said order will be implemented unless the corresponding return order is executed before the initial order or if there is a lack of provision at cut-off time. A payment is final as soon as it may not be questioned by the bank of its issuer. A payment is final : - in TBF, as soon as the transaction is charged to a Central Settlement Account - in PNS, as soon as the transaction is charged to a position.
A term used to describe a trust in which the maker of the trust (trustor) has, by the terms of the trust agreement, specifically given up the power to alter, amend, or terminate the trust either entirely or in part. A permanent gift.
In the context of a trust, it means that the trust cannot be changed, modified or terminated.