Confirming bank: Difference between revisions
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In a transaction involving a letter of credit (LC), a bank that adds its confirmation to the LC, committing to the beneficiary that it will ensure payment regardless of the issuing bank’s ability to pay. | In a transaction involving a letter of credit (LC), a bank that adds its confirmation to the LC, committing to the beneficiary that it will ensure payment regardless of the issuing bank’s ability to pay. | ||
== See also == | == See also == | ||
* [[Letter of credit]] | * [[Letter of credit]] | ||
[[Category:Trade_finance]] | |||
[[Category:Manage_risks]] | |||
[[Category:Risk_frameworks]] | |||
Latest revision as of 09:16, 22 August 2014
In a transaction involving a letter of credit (LC), a bank that adds its confirmation to the LC, committing to the beneficiary that it will ensure payment regardless of the issuing bank’s ability to pay.
