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. Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of ...

Adding these payment terms to your invoices can improve your customer relationships, cash flow and legal standing. Many, or all, of the products featured on this page are from our advertising partners ...