Confirmed LC vs Un confirmed LC

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Mhdkaiser
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Confirmed LC vs Un confirmed LC

by Mhdkaiser » Wed Apr 11, 2018 4:51 pm

Can you explain what is differents between Confirmed LC and Un confirmed LC?

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picant
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Joined: Wed Aug 20, 2008 1:49 pm

Confirm or not confirm

by picant » Thu Apr 12, 2018 1:41 am

Hi Pal,

I think that you may search in this forum to have lots of answers. However by confirming a bank undertakes to effect the action foreseen in the l/c. So this bank must book the risk towards the
issuing bank. If not confirmed the advising bank is not obliged to perform such action and may opt to do or not to do.
Other comments appreciated
Ciao

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