Unconfirmed Letter Of Credit

Summary of Unconfirmed Letter Of Credit

See Letter of Credit.

(Main Author: William J. Miller)

Unconfirmed Letter of Credit in International Trade

Meaning of Unconfirmed Letter of Credit, according to the Dictionary of International Trade (Global Negotiator): A documentary letter of credit where the advising bank makes no commitment to pay, accept or negotiate. See letter of credit; silent confirmation.