confirming what is?
Confirming is a service provided by a financial institution to its customer, and that is to manage the payments of the company (the customer) to its suppliers, giving the latter the possibility of charging your bills before the due date. In return, the supplier must meet the company confirming the interest rate for the cost of financing.
confirming specifics
The advantages for the client (the company that has made purchases from their suppliers) are as follows:
- have managed their payments.
- This form of financing is a financing system in addition to the other formulas available to the company.
The advantages for the vendor (seller), are:
- Cobra bills advance (in exchange of financing costs).
- Get complete and detailed information about bills to be paid.
Who does it?
confirming operations can only be made by financial institutions or credit:
- Banking.
- Savings.
- Credit Unions.
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