Cash card and Confirming bank: Difference between pages
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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. | |||
== See also == | == See also == | ||
* [[ | * [[Letter of credit]] | ||
Revision as of 14:19, 23 October 2012
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
