Letter of comfort: Difference between revisions
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A formal letter written to a lender, normally by a parent company, indicating a willingness by the parent to accept some responsibility to honour the borrowing obligations of, or to otherwise support, a subsidiary or associated company, but without necessarily | A formal letter written to a lender, normally by a parent company, indicating a willingness by the parent to accept some responsibility to honour the borrowing obligations of, or to otherwise support, a subsidiary or associated company, but without necessarily constituting a legal obligation to do so. | ||
== ACT Website links == | |||
[http://www.treasurers.org/lettersofcomfort A Practical Guide to Letters of Comfort, 25 September 2013] | |||
== See also == | == See also == | ||
* [[Letter of awareness]] | * [[Letter of awareness]] | ||
* [[Parent company]] | * [[Parent company]] | ||
Revision as of 14:26, 1 October 2013
A formal letter written to a lender, normally by a parent company, indicating a willingness by the parent to accept some responsibility to honour the borrowing obligations of, or to otherwise support, a subsidiary or associated company, but without necessarily constituting a legal obligation to do so.
ACT Website links
A Practical Guide to Letters of Comfort, 25 September 2013
