LC Confirmation

What is LC Confirmation

Confirmation of Letter of Credit is a security tool for the exporters. Confirmation eliminates country risk and insolvency risk of the issuing bank.
Confirmation means a definite undertaking of the confirming bank , in addition to that of the issuing bank, to honor or negotiate a complying presentation. Confirming bank means the bank that adds its confirmation to a credit upon the issuing bank's authorization or request.

Why Confirmation of LC is Required

Supplier / Exporters from developed countries normally ask for a confirmed letter of credit, when buyer / Importer is from a under developed/ developing countries.

How Can We Assist Your Business

ITTS maintain working relationship with more than 50 global banks across different time zone. ITTS can offer you best solution for confirmation of your LC as per your exporter’s requirements at a competitive pricing.