Confirmation of a Letter of Credit constitutes an undertaking on the part of the Confirming Bank, in addition to that of the Issuing Bank, to pay a customer, without recourse, if documents are presented in compliance with the terms and conditions of the credit.
Standard Charted Bank has a large branch and correspondent banking network across the globe and is a leading banking facilities provider in the Middle East, Asia Pacific, Africa, Latin America and other emerging markets. Standard Charted Bank offers Letters of Credit confirmations to exporters to help mitigate sovereign and bank risks subject to its internal approvals.