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| Q. |
When a letter of credit does not indicate whether it is revocable or irrevocable, it is treated as |
| A. | Revocable. |
| B. | Irrevocable. |
| C. | Revocable or irrevocable in the option of the beneficiary. |
| D. | Revocable or irrevocable in the option of the negotiating bank. |
| Answer» B. Irrevocable. | |
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