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English definition of “confirming bank”

confirming bank

noun [C]
 
 
BANKING, COMMERCE a bank in a country exporting goods that agrees that the letter of credit given by a bank in the importing country will be paid, on condition that the goods have been sent and accepted: Confirming banks are in a key position to support exports to countries where trading conditions are difficult. → Compare issuing bank
(Definition of confirming bank from the Cambridge Business English Dictionary © Cambridge University Press)
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