Difference between revisions of "Confirming Bank"
From Open Risk Manual
Wiki admin (talk | contribs) |
(No difference)
|
Latest revision as of 14:00, 13 February 2020
Definition
Confirming Bank. It is a financial institution that has added its Confirmation to a Letter of Credit.
This term is also sometimes used loosely to refer to a financial institution that has issued a commitment to purchase letter of credit documents without recourse, a practice called silent confirmation.
