Multiple choice

The confirming bank

  1. guarantees to undertake the responsibility of payment

  2. conforms the negotiation of the bills

  3. advises bank and conforms the Letter of Credit

  4. None of the above

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Confirming bank is one of the other parties involved in Letter of Credit. Confirming bank confirms and guarantees to undertake the responsibility of payment or negotiation acceptance under the credit.