/ɪˈrɛvəkəbəl ˈlɛtər ʌv ˈkrɛdɪt/ – Phrase
Definition: thư tín dụng không thể hủy ngang.
A more thorough explanation: An irrevocable letter of credit is a financial instrument issued by a bank on behalf of a buyer that guarantees payment to a seller as long as the seller meets the terms and conditions specified in the letter of credit. Once issued, an irrevocable letter of credit cannot be changed or canceled without the consent of all parties involved.
Example: The irrevocable letter of credit provided by the bank ensured payment to the supplier upon presentation of the required documents.