Comfort letter

Comfort letter,

Definition of Comfort letter:

  1. Governmental affairs: Federal- or state- governments assurance (to the lender or supplier of a public agency or enterprise) that it will support the agency in timely settlement of its obligations.

  2. Banking: Informal letter from a bank indicating its willingness to support a customer with a short-term loan, if and when required. It is not a letter of commitment.

  3. 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.

  4. 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.

  5. Corporate affairs: Parent-firms letter, issued to reassure a subsidiary-firms lender or supplier, that it would support the subsidiary in case of financial difficulties. Specific terminology used in the letter determines whether such assurance constitutes a binding contract or only a moral obligation. A comfort letter, however, does signify that the loan request is authorized, is in order, and that the parent firm will keep a careful eye on the entire transaction. Also called letter of comfort, it may also be issued by a government to back up the obligations of its agencies.

How to use Comfort letter in a sentence?

  1. Such letters may be sent by auditors, accounting firms, or parent companies.
  2. A comfort letter assures the recipient of the soundness of an individual or company it is considering doing business with. .
  3. A comfort letter does not contain any legally enforceable promises.

Meaning of Comfort letter & Comfort letter Definition

Comfort Letter,

What is Comfort Letter?

  1. Comfort Letter can be defined as, A letter to a consumer from an independent accountant of a company in accordance with section 11 of the Securities Act 1933 regarding the financial information contained in the offer statement in which the buyer accepts responsibility for the consumer right.

Literal Meanings of Comfort Letter

Comfort:

Meanings of Comfort:
  1. Release the console or inconvenience.

  2. Physical calm and absence of pain or stress.

  3. Relief or relief from someone's pain or suffering.

  4. Warm blanket

Sentences of Comfort
  1. She was crying and her friend tried to comfort her

  2. Room for four leisure travelers

  3. Some satisfying words

Synonyms of Comfort

condole with, bring comfort to, sympathize with, commiserate with, give solace to, fellow feeling, condolence, consolation, console, commiseration, give sympathy to, solace, give condolences to, sympathy

Letter:

Meanings of Letter:
  1. Write a letter or write about it.

  2. Get a badge in the first letter of your school or college name for your athletic accomplishments.

  3. A letter that represents one or more sounds used in a language that is a symbol of the alphabet.

  4. Written, typed or printed messages, including but not limited to messages sent in envelopes by post but courier.

  5. Strict requirements for the correct term or verbal interpretation of a statement.

  6. Literature.

  7. Style of writing.

Sentences of Letter
  1. His name was written in gold

  2. Young people who write about football, basketball or softball

  3. capital letter

  4. Sent a letter to Mrs. Faulkner

  5. We also need the spirit of the law and the letter

  6. The world of letters

Synonyms of Letter

message, written works, literary texts, line, report, alphabetical character, epistle, mark, symbol, missive, bulletin, figure, writing, belles-lettres, device, type, rune, character, sign, dispatch, writings, creative writing, written communication, letters, compositions, communication, written message, note