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A(n) irrevocable letter of credit means that once the seller has accepted the credit, the buyer cannot alter it in any way without permission of the seller.
More about the letter of credit:
A letter of credit, often known as a "credit letter," is an assurance from a bank that a buyer will pay a seller on time and in full. The bank will be compelled to pay the entire or remaining sum of the transaction if the buyer is unable to make a payment on it. It might be provided as a service.
A bank's formal document known as an irrevocable letter of credit (ILOC) guarantees payment for the goods or services being purchased by the person or organisation, known as the applicant, who requests the letter of credit from the issuing bank.
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