A 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.
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.
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Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder of TBIL.co STATX Fund.