Definition a comfort letter is a document that an accounting firm prepares to assure the backing of the company or the financial soundness a comfort. The association of corporate treasurers briefing note letters of comfort: a practical guide this briefing note may be freely quoted with acknowledgement. A binding comfort letter template to be given as an alternative to a guarantee, it creates a legally binding obligation on the provider a comfort letter is often. Posts about bank comfort letters (bcl) written by dl financial ltd. Definition of comfort letter: an accounting firm's statement provided to a company preparing for a public offering, confirming that unaudited financial.
English term or phrase: comfort letter: definition from wwwbusinessballscom: document issued to back up an agreement but which does not have any. Example of a comfort letter this draft is furnished solely for the purpose of indicating the form of letter that we would expect to be able to furnish the named. Comfort letter definition - a comfort letter is a document issued by an independent auditor in a preliminary prospectus stating that while a full. Cpas are regularly asked to provide a loan broker, lender or other third party with a comfort letter or verification letter on behalf of their clients.
In competition law, a letter stating that the european commission intends to close its file and take no further action in relation to an agreement which has been. Alternative forms comfort letter noun letter of comfort (plural letters of comfort) (finance) a type of letter popular in the 1980s addressed to a. Appendix examples64 1 the contents of comfort letters vary, depending on the extent of the information in the registration statement and the wishes of. Definition of comfort letter: also called letter of comfort, it may also be issued by a government to back up the obligations of its agencies 3. A letter of comfort is a communication from a party to a contract to the other party that indicates an initial willingness to enter into a contractual obligation. Frequently asked questions relating to comfort letters and comfort letter practice introduction to comfort letters why do underwriters receive comfort letters.
Comfort letter definition, an informal statement assuring the financial soundness or backing of a company see more. A comfort letter is a written document that provides a level of assurance that an obligation will be ultimately met. Definition of comfort letter in the financial dictionary - by free online english dictionary and encyclopedia what is comfort letter meaning of comfort letter as a. Private and confidential [date] oversea-chinese banking corporation limited 65 chulia street #09-00 ocbc centre singapore 049513 attn: [ ] dear sirs. Here, you'll find two comfort letter examples, one for a business and one for individuals comfort letters are usually requested by banks, lenders or investors and. Sample wording for client comfort letters - cpa / accountant.
This letter of comfort has been duly authorised by a resolution of the board of directors of [name parent company] dated (), a copy is attached to this letter.