Definitions for "CONFIRMING HOUSE"
A company, based in a foreign country, that acts as a foreign buyer's agent and places confirmed orders with Canadian exporters. They guarantee payment to the exporters.
A company that intermediates between an exporter and an importer and confirms orders from the importer for the goods, finances transactions and accepts the credit risk involved.
A company which makes payment to a supplier on behalf of a buyer because the buyer has insufficient credit strength for a bank to be prepared to issue a letter of credit on its behalf.