Confirming Bank

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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.
5 billion in total, and more than 800 confirming banks worldwide.
Armenian bank with a status of a confirming bank as part of the Trade Finance Project.
Banque Paribas case, in which the court ruled that if a confirming bank discounted its own deferred payment undertaking it did so at its own risk, and if fraud were established prior to the maturity date, the issuing bank was not obliged to reimburse the confirming bank.
While promoting international and regional trade, the EBRD's trade finance assistance will enable the UIB to issue guarantees to the confirming banks and to finance both pre-export and post- Import transactions than distribution-related transactions.
The development bank added that the majority of African banks have small capital bases which constrain their ability to obtain adequate trade limits from international confirming banks and to undertake sizeable transactions that have significant development impact.
The TFP Information Session focused on "Financing Foreign Trade with Cyprus" and attracted 100 representatives from issuing and confirming banks under the programme, the International Chamber of Commerce, Vienna, the World Trade Organisation, as well as key trade finance professionals, regulators and economists.
Most African banks confront major hurdles in obtaining credit support from international confirming banks to undertake sizeable transactions largely due to their relatively small capital bases.
Through the Programme, the Bank provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations.
Intesa Sanpaolo will join the other Confirming Banks to extend geographic coverage of the facility.
confirming bank is an achievement, as Ameribank has been included in the list of EBRD confirming banks.
At the same time, fostering international and intra-regional trade, the EBRD trade finance line will allow UIB to issue guarantees in favour of confirming banks and provide cash financing for pre-export and post-import financing as well as for local distribution.