Unconfirmed Letter of Credit

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Unconfirmed Letter of Credit

A letter of credit which has not been guaranteed or confirmed by any bank other than the bank that opened it. The advising bank merely informs the beneficiary of the letter of credit terms and conditions.

Unconfirmed Letter of Credit

A letter of credit where only the bank issuing it has agreed to guarantee payment. This differs from a confirmed letter of credit, where at least two banks guarantee payment. This increases the risk for the bank that honors the letter of credit, as it only has one, rather than two, ways to seek recourse.
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Note also that the bank's typical fee for advising an unconfirmed letter of credit is 0.
But the fate of the 44-year-old remained unconfirmed today.
The defense minister also cited unconfirmed intelligence that a North Korean vessel that had been around the area of missile splashdowns in the Sea of Japan, monitoring the launched missiles, is believed to have withdrawn from the area.
THE Foreign Office said last night it was investigating unconfirmed reports that the three British hostages in the Gaza Strip have been released.
This forest was once rich with ivory-billed woodpeckers, and most recently it was the location of several unconfirmed reports of living birds.
THE results of Wirral West were unconfirmed this morning after the returning officer called for a full recount.
13pm: Unconfirmed sighting of two girls in red shirts in Sand Street.
Unconfirmed media reports suggested that members of the National Civil Police (PNC) may have played a role in the kidnapping.
A spokesperson for the airport said that the flight may have been a scheduled service heading from Sundsvall to Landvetter airport in Gothenburg, but details still remain unconfirmed.
One of these also showed an unconfirmed 42 percent reduction in tumor burden according to RECIST (Response Evaluation Criteria in Solid Tumors) guidelines.
Harvard and Cambridge police were called to the scene to investigate the unconfirmed reports, authorities at the Ivy League university said.