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A number of years ago I worked with someone who grew up in Cuba. Since she spoke English as a second language, interesting nuances became apparent when we discussed letters of credit. I remember on one occasion I referred to a letter of credit as unconfirmed. She gently corrected me, "If a letter of credit is unconfirmed, that means a bank first confirmed it and then removed the confirmation, making it unconfirmed. But," she went on, "a bank cannot undo a confirmation once it has been made."
Was she right? She spoke grammatically correct, of course, but it raises an interesting question. Can a bank add its confirmation to a letter of credit and then, at a later date, notify the beneficiary that they no longer want to have their name, reputation and obligation attached to the letter of credit? Where can we turn to find an answer for a question such as this? The Uniform Customs and Practices for Letters of Credit (UCP), of course!
The removal of a confirmation requires an amendment. According to the UCP, "[A] credit can neither be amended nor cancelled without the agreement of the issuing bank, the confirming bank, if any, and the beneficiary" (Article 10 a). In summary, a bank can rescind its confirmation but only if the beneficiary agrees. While possible, it is not probable.
After that conversation, my co-worker and I agreed to refer to letters of credit as confirmed or advised. An advised credit implies a bank has not added their confirmation.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| 7228CDB NTN | 140 | 250 | 8431.1 |
| 7028CDB NTN | 140 | 210 | 66 |