Irrevocable Letter of Credit: What It Actually Means
What 'irrevocable' means under UCP 600 and what it does — and does not — protect.
Reviewed by LCCheck team (owner-approved) · 2026-10-12
Short answer
Under UCP 600 Article 3, a credit is irrevocable even if it does not say so. It cannot be amended or cancelled without the agreement of the issuing bank, any confirming bank and the beneficiary (Art. 10(a)). Irrevocability protects against the credit being withdrawn; it does not protect against discrepant documents.
| Rule | UCP 600 Art. 3, Art. 10(a) |
|---|---|
| Revocable credits | Not provided for under UCP 600 |
| Protects against | Unilateral change or cancellation |
What it means
- The issuing bank is bound from issuance.
- The buyer cannot cancel the credit alone.
- Amendments need the beneficiary's acceptance.
What it does not mean
- Payment regardless of documents.
- Protection against issuing bank failure — that needs confirmation.
Sources
General guidance, not legal advice. Your bank examines documents independently.
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