English version

confirmed letter of credit

From Longman Business Dictionaryconfirmed letter of creditconˌfirmed ˌletter of ˈcreditFINANCE a letter of credit that a bank promises to pay, even if the bank that made it available does not. This gives exporters more confidence that they will receive payment letter of credit
Pictures of the day
Do you know what each of these is called?
Click on the pictures to check.