Learn how irrevocable letters of credit (ILOC) secure payments in international trade, explore their uses, types, and benefits for involved parties.

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Eric's career includes extensive work in both public and corporate accounting with ...

The $14 bln Kasikornbank, a major banking group in Thailand, better known as KBank, established a partnership with IBM to launch a Blockchain-based letter of guarantee service. By definition, a letter ...