Confirming Bank

Confirming Bank
The bank which has confirmed a letter of credit opened by another bank. Bloomberg Financial Dictionary

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confirming bank confirming bank bank1

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confirming bank UK US noun [C]
BANKING, COMMERCE a bank in a country exporting goods that agrees that the letter of credit given by a bank in the importing country will be paid, on condition that the goods have been sent and accepted: »

Confirming banks are in a key position to support exports to countries where trading conditions are difficult.

Compare ISSUING BANK(Cf. ↑issuing bank)

Financial and business terms. 2012.

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