confirming bank


Also found in: Financial.
Related to confirming bank: Advising bank, letter of credit
Translations

confirming bank

References in periodicals archive ?
Confirmed LCs are the most secure form of LC as they transfer payment responsibility from the buyer to the exporter's bank, as long as the exporter shows the confirming bank that it shipped the right product at the right price on time to the correct place, Pilkington said.
Hellenic Bank is a long-standing partner of the EBRD and became a confirming bank under the TFP in March 2003.
The EBRD has assigned Araratbank the status of confirming bank.
She said that under the GTFP, UNB as a Confirming Bank would partially or fully benefit from guarantees of IFC in covering payment risks on issuing banks in emerging and non investment grade markets.
Summary: RIYADH: The Saudi British Bank (SABB) has been named the "Most Active Confirming Bank in the Middle East & North Africa and Supporter of SME Trade" by the World Bank's International Finance Corporation (IFC) for the second consecutive year.
5 per cent in the three months to December, confirming Bank of England fears that low unemployment is starting to feed through into potential inflationary pay increases.
Recently, legislation was passed confirming bank secrecy in the context of negotiations for European harmonisation of capital income taxation.
Best practices for advising clients that are considering entering into a contractual relationship with a bank that is rumored to be in financial trouble, including how to investigate the banks financial situation, how to structure your deal so that your clients risk is distributed across multiple banks (through a syndicated loan commitment, letter of credit with a confirming bank, or other risk-diversifying option), and how to structure your contract in a way that diminishes the FDICs motivation to later repudiate the contract
The facility is therefore quite timely, as it will enable Nedbank to grow its asset book as well as increase its visibility as a credible confirming bank for African trade transactions.
Armenian bank with a status of a confirming bank as part of the Trade Finance Project.
The reason most people get LCs confirmed is to get rid of the country risk because the buyer's bank is going to be in the same country as the buyer and the confirming bank should be from a different country, hopefully indigenous to your own," said Baker.
The RPA will enable FRB to increase its visibility as a established confirming bank for trade transactions originated by African issuing banks.