TERMIUM Plus®

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UNCONFIRMED LETTER CREDIT [1 record]

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Alphabetical list of terms

Record 1 2003-05-26

English

Subject field(s)
  • Negotiable Instruments (Commercial Law)
  • Banking
  • Trade
CONT

When a correspondent bank located in the country of the exporter confirms a letter of credit to the exporter by obligating itself to pay or accept his drafts, the instrument is called a confirmed letter of credit .... An unconfirmed letter of credit does not give the exporter this additional security. Exporters insist on confirmed letters of credit when the foreign issuing bank is not well known.

French

Domaine(s)
  • Effets de commerce (Droit)
  • Banque
  • Commerce

Spanish

Campo(s) temático(s)
  • Instrumentos negociables (Derecho mercantil)
  • Operaciones bancarias
  • Comercio
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