6. Confirming Bank
- Confirming bank is the bank that adds its confirmation to a credit upon the issuing bank’s authorization or request.
- Most of the time a confirming bank is also the advising bank and the nominated bank.
- Confirming Confirming bank provides provides beneficiary beneficiary an additional payment guarantee separate from the issuing bank’s payment obligation.
- Confirming banks are located on the same country as beneficiaries so they will eliminate country risk of the issuing banks.
