Confirming bank,
Definition of Confirming bank:
Bank in an exporters country which guarantees that the letter of credit established by the importer (for the benefit of the exporter) will be honored once the conditions therein are fully complied with. The confirming bank (Also called the advising bank) undertakes this responsibility on an arrangement (called confirmation) with the importers bank which issued the letter of credit (called the issuing bank).
Meaning of Confirming bank & Confirming bank Definition
