Unconfirmed Letter of Credit

(redirected from unconfirmed)
Also found in: Dictionary, Thesaurus, Legal.
Related to unconfirmed: Unconfirmed Letter of Credit

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.
Mentioned in ?
References in periodicals archive ?
But last night the Health Protection Agency (HPA) was investigating an unconfirmed case following the weekend.
Despite several unconfirmed sightings in the south of England, Dr Stevens had not been seen since.
Unconfirmed reports said the family had recently converted from Islam to Christianity and had been victimised.
The new radar-analysis technique, however, can identify the locations of long-ago tests, possibly revealing a nation's unconfirmed nuclear capability.
According to unconfirmed reports, Amardeep Bassey, the investigations editor of the Birmingham-based Sunday Mercury, has been moved to a lower security prison in Peshawar.
Two air ambulances were immediately deployed to ferry the injured to local hospitals amid unconfirmed early reports that two people had been 'seriously injured'.
Initial, unconfirmed reports from the scene indicated that the boy's family may live in Guatemala.
Unconfirmed capacity changes are listed separately and classified into three categories.
Reports that he was so inspired by Paula Radcliffe's record-breaking win in Sunday's London Marathon that he is making early preparations for next year's race are unconfirmed.
She said there had been unconfirmed sightings of her daughter in Wellington Road, Rhyl, but that none of her friends had seen her around the town.
The findings by Norris' team depend on a novel, as yet unconfirmed, method of estimating the distance to gamma-ray bursts.