LC Confirmation:
Confirmation of Letter of Credit is a security tool for the exporters. Confirmation eliminates country risk and insolvency risk of the issuing bank. Confirmation means a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honor or negotiate a complying presentation. Confirming bank means the bank that adds its confirmation to a credit upon the issuing bank's authorization or request.
Why Confirmation of LC is Required
Supplier / Exporters from developed countries normally ask for a confirmed letter of credit, when buyer / Importer is from an under developed/ developing countries.
How We Can Assist Your Business
BFTS maintains a working relationship with more than 70 global banks across different time zones. BFTS can offer you the best solution for confirmation of your LC as per your exporter’s requirements at a competitive pricing.
LC CONFIRMATION
