confirmed letter of credit noun [C] (plural confirmed letters of credit)

(Finance ; Trade )

a type of letter of credit that the paying bank promises to pay even if the bank that prepared it fails to do so:

Payment for the shipment must be made by confirmed letter of credit.

• fixed capital
• fixed cost
• fixed currency
• fixed deposit
• fixed income
• fixed-interest security
• fixed investment
• fixed line
• fixed network
• fixed parity
• fixed position
• fixed-price
• fixed-rate
• fixed spot
• fixed tax
• fixed telephone
• fixed term
• fixed wireless
• fixer
• stop-go
• stopover
• stoppage
• stoppage in transit
• stop-work meeting
• storage