letter of comfort
This query is : Resolved
CA supriyo saha
(Querist)
12 August 2008
What is a letter of comfort? pl explain with an example.
18 August 2008
A letter issued to a lending institution by a parent company acknowledging the approval of a subsidiary company's attempt for financing.
The 'letter of comfort' in no way guarantees the loans approval for the subsidiary company. It merely gives reassurance to the lending institution that the parent company is aware and approves of the situation.
The 'letter of comfort' in no way guarantees the loans approval for the subsidiary company. It merely gives reassurance to the lending institution that the parent company is aware and approves of the situation.
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