Copyright © Philip M. Parker, INSEAD. Terms of Use.
| Domain | Definition |
Shipping | A letter of credit, issued by a foreign bank, whose validity has been confirmed by a domestic bank. An exporter with a confirmed letter of credit is assured of payment even if the foreign buyer or the foreign bank defaults. (references) |
Source: compiled by the editor from various references; see credits. | |
| Subject | Topic | Quote |
Business | An irrevocable, confirmed Letter of Credit is recommended until the foreign supplier and Turkish importer establish a good working relationship. (references) | |
The most common payment vehicle used between foreign suppliers and Vietnamese trading companies is the confirmed letter of credit (L/C). While some foreign manufacturers have offered consignment purchases, this is not common and should only be offered to distributors after a long period of proven performance. (references) | ||
Economic History | Vietnam | In most cases, payment by irrevocable confirmed letter of credit is recommended, although it should be noted that letters of credit issued by local banks may not be enforceable. (references) |
Trade | Australia | A confirmed letter of credit guarantees payment by a foreign bank as well. (references) |
Senegal | New-to-the market U.S. exporters should request an irrevocable confirmed letter of credit drawn on one of the major banks. (references) | |
Source: compiled by the editor from ICON Group International, Inc.; see credits. | ||
| Language | Translations for "CONFIRMED LETTER OF CREDIT"; alternative meanings/domain in parentheses. | ||||||||||||||||
Danish | bekræftet rembursen (confirmed credit, confirmed documentary credit). (various references) | ||||||||||||||||
Dutch | geconfirmeerd accreditief (confirmed credit, confirmed documentary credit). (various references) | ||||||||||||||||
French | crédit documentaire confirmé (confirmed credit, confirmed documentary credit), crédit confirmé (confirmed credit, confirmed documentary credit), accréditif confirmé (confirmed credit, confirmed documentary credit). (various references) | ||||||||||||||||
German | bestätigtes Akkreditiv (confirmed credit, confirmed documentary credit). (various references) | ||||||||||||||||
Greek | επιβεβαιωμένη πιστωτική επιστολή (confirmed credit, confirmed documentary credit), επιβεβαιωμένη πίστωσις (confirmed credit, confirmed documentary credit). (various references) | ||||||||||||||||
Italian | credito documentario confermato (confirmed credit, confirmed documentary credit). (various references) | ||||||||||||||||
Pig Latin | onfirmedcay etterlay ofay editcray crédito documentário confirmado (confirmed credit, confirmed documentary credit), crédito confirmado (confirmed credit, confirmed documentary credit), carta de crédito confirmada (confirmed credit, confirmed documentary credit). (various references) crédito documentario confirmado (confirmed credit, confirmed documentary credit). (various references) | ||||||||||||||||
Copyright © Philip M. Parker, INSEAD. Terms of Use.
