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FrançaisA letter or form that conveys the drawer´s instructions to the presenting bank. While there are many variations, collection letters identify the drawer, drawee, and any case-of-need party; typically contain a series of boxes that apply to various instructional points….
Read MoreComfort letter
A letter from an independent auditor included in a preliminary prospectus stating that, while a full audit has not been undertaken, the auditor has done revised the documents sufficiently to assure that financial statement information in the preliminary prospectus is…
Read MoreCommercial risk
The possibility of non-payment caused by such buyer-related problems as insolvency or bankruptcy, as opposed to problems encountered by the buyer´s country. See also country risk.
Read MoreConfirmed letter of credit
A letter of credit that contains a guarantee on the part of both the issuing and de advising banks of payment to the seller so long as the seller´s documentation is in order and the terms of the letter of…
Read MoreConfirming
A financial service in which an independent company confirms an export order in the seller´s country and makes payment for the goods in the currency of that country. Among the items eligible for confirmation are not only the goods but…
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