Confirming Bank

(redirected from Confirming Banks)
Also found in: Dictionary.

Confirming Bank

The bank which has confirmed a letter of credit opened by another bank.

Confirming Bank

A bank that makes assurances to the relevant party that a letter of credit from another bank is genuine.
References in periodicals archive ?
Through the Programme, the EBRD provides guarantees to international confirming banks and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers and distributors.
In addition, each LOC is subject to being drawn down upon failure by either its issuing or confirming bank to renew its commitment or a lowering of the rating of its confirming bank.
There are no fees to join the program, [which] allows banks to get immediate access to a network of 207 confirming banks in 85 countries.
In addition, the IDB said three major commercial lenders that take part in the TFFP as confirming banks, Citibank, Standard Charter and Wachovia, signed a participation agreement to provide additional lending for trade financing operations.
5 billion in total and above 800 confirming banks worldwide.
Through the Programme, the EBRD provides guarantees to international confirming banks, as well as short-term loans to selected banks and factoring companies for on-lending to local exporters, importers and distributors.
5 billion in total and more than 800 confirming banks worldwide.
The programme offers confirming banks partial or full guarantees covering payment risk for trade-related transactions in emerging markets.
The GTFP programme offers Confirming Banks a partial or full guarantee in covering payment risks on banks in emerging markets for trade related transactions.
Under their program, GTFP offers Confirming Banks a partial or full guarantee in covering payment risks on banks in emerging markets for trade related transactions.
The transaction was unique as the whole process involved the first ever deployment of CargoDocs eUCP Presentation by both the issuing and confirming banks, plus the Brazilian supplier, as well as the Chinese recipient of the iron ore.
The program will provide BNB with access to a global network of 268 Confirming Banks in 101 countries, facilitate access to trade lines and make it easier for the BNB to provide integrated trade finance solutions for small and medium-sized businesses.