What is a Letter of Credit Confirmation ?

Letter of credit confirmation is: letter enhanced credit Irrevocable duration of90 days Letter of credit is a commitment from the issuing bank (in the case of the letter of credit enhanced pledge of enhanced bank) to pay or negotiate promissory note to the borders of the credit amount in the range of validity of the letter of credit and against the stipulated documents. There are two basic types of credit, letter of credit are irrevocable credit is irrevocable and speech. According to the terms of payment can be a letter of credit to inform or to order or conditional. The purpose of the letter of credit is to provide facilities for the bank's customers to meet the obligations of import and export to and from abroad and / or local suppliers and investors. Response to the desire of the applicant to implement the agreement between the buyer is generated letter of credit (the applicant) and the seller (beneficiary) on the supply of goods or services in exchange for providing certain documents are traded through banks

Confirmation is a security tool for the exporters. Confirmation eliminates country risk and insolvensy risk of the issuing bank.

Confirmation of letter of credit is a security tool for the exporters. Confirmation eliminates country risk and insolvency risk of the issuing bank. It means a definite undertaking of confirming bank, in addition to that of issuing bank, to honor or negotiate a complying presentation. Hence, you can say only irrevocable letter of credits can be confirmed.

 

A document issued by your bank that essentially acts as an irrevocable and confirmed guarantee of payment to a beneficiary for importing.

u add more info. to me Sir 

Answer Mr. Ali Mujtaba

 

Great

LC which reduces the financial risk of exporter. However, it is a bank guarantee of payment on behalf of importer.

A confirmed letter of credit is typically used when the issuing bank of the letter of credit may have questionable creditworthiness and the seller seeks to get a second guarantee to assure payment.

A letter of credit is a document from a bank guaranteeing that a seller will receive payment in full as long as certain delivery conditions have been met.

A second guarantee, in addition to a letter of credit, that commits to payment of the letter of credit. A confirmed letter of credit is typically used when the issuing bank of the letter of credit may have questionable creditworthiness and the seller seeks to get a second guarantee to assure payment.

Confirmation is a security tool for the exporters. Confirmation eliminates country risk and insolvensy risk of the issuing bank. Confirming means a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honour or negotiate a complying presentation.

I AGREE WITH MR BASSAM ANSWER