Soft probe

soft probe is a confirmation method used by banks to verify funding for a seller from a buyer, conducted by the seller’s bank to the buyer’s bank. Such a probe is not recorded in the buyer’s banking information, and usually nothing but confirmation or lack of confirmation is recorded by the seller.[1]

Authorization for a soft probe is normally provided as part of a bank letter of comfort provided by a buyer when placing Irrevocable Corporate Purchase Order in international trade.[2]

References

  1. ^“Terms & Abbreviations”. Establish Brazil. Retrieved May 31, 2017.
  2. ^“Documentation & Sample LOI, ICPO and BCL”. Oceanic Resources Group. Retrieved May 31, 2017.

Ofer Abarbanel online library

Ofer Abarbanel online library

Ofer Abarbanel online library