Silent confirmation of L/Cs

The preferred format for a letter of credit issued by a foreign bank is that the L/C is confirmed and irrevocable.
If the L/C is not confirmed, and the bank or country of origin is considered of high economic or political risk, it would be advisable to obtain a confirmation from a first class financial entity in a low risk area.
This can be arranged in coordination with the issuing bank, but may also take the form of a 'silent guarantee' issued by an independent financial institution. Contact bizSpain if you would like to know more.

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