Meaning of “confirming bank” in the English Dictionary


"confirming bank" in Business English

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confirming banknoun [ C ]

uk us

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.

(Definition of “confirming bank” from the Cambridge Business English Dictionary © Cambridge University Press)