This field contains confirmation instructions for the Receiver.
According to current letter of credit rules confirmation means a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honour or negotiate a complying presentation.
According to current letter of credit rules confirming bank means the bank that adds its confirmation to a credit upon the issuing bank's authorization or request. As a result banks can not add their confirmations to the letter of credit without having a confirmation request by the issuing banks.
According to current letter of credit rules a confirming bank is irrevocably bound to honour or negotiate as of the time it adds its confirmation to the credit.
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