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.


See also