Confidential information

A classification that identifies sensitive information that, if disclosed, could damage the person or organization it relates to. In a business relationship, confidential information is protected through Confidentiality Agreements.

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Confidentiality agreement

A type of contract used to protect sensitive technical or commercial information from disclosure to others. Such agreement is often used when a company or individual has a secret process or a new product that it wants another company to…

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Confirmed 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…

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Confirming

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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Confirming bank

In a letter of credit transaction, the bank that assumes responsibility to the seller (usually the exporter) for payment from the issuing bank (buyer´s bank) so long as the terms and conditions of the letter of credit have been met…

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