A "confirmed letter of credit" is another name for a "standby letter of credit."

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A "confirmed letter of credit" involves a second bank guaranteeing the payment in addition to the issuing bank, enhancing the beneficiary's security. A "standby letter of credit," however, is a guarantee of payment issued by a bank on behalf of a client, acting as a "safety net" if the client fails to fulfill a contractual commitment with a third party. They serve different purposes and are not the same.

A "Confirmed Letter of Credit" Is Another Name for a "Standby