Confirming House

 
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Confirming House

A confirming house is an agency that arranges and purchases the export of goods on the behalf of foreign buyers. They finance the transportation of items into the nation by providing short-term credit to importers and confirming or guaranteeing, payment to the manufacturer or suppliers in the suppliers own local currency. The confirming house typically negotiates the price with the suppliers, insurers, ships, and offers relevant information on the items on the foreign buyers' behalf.

This entry in dictionary was updated on August 11, 2017 by Tanushka.