WHAT IS A BANK COMFORT LETTER?
A comfort letter is a business document that is intended to assure the recipient that a financial or contractual obligation with another party can and will be met. The sender is often an independent auditor or accountant.
The comfort letter does not make a legally enforceable commitment but conveys the ability of the other party to fulfill the terms of the agreement under discussion.
A comfort letter is also known as a letter of intent or, in some cases, a solvency opinion.
The comfort letter does not make a legally enforceable commitment but conveys the ability of the other party to fulfill the terms of the agreement under discussion.
A comfort letter is also known as a letter of intent or, in some cases, a solvency opinion.
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