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.
NBA also is one of the few banks in the nation to be approved as a "confirming bank" by the European Bank for Reconstruction and Development for their Trade Facilitation Program.
Average earnings growth rose to 5.5 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.
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.
confirming bank is an achievement, as Ameribank has been included in the list of EBRD confirming banks.
Confirmed Irrevocable Letter of Credit (CILC)--This transaction moves the financial responsibility for payment from your customer to the confirming bank (preferably a US bank).