Unconfirmed Sight Letter Of Credit
With an unconfirmed sight letter of credit, payment of funds flows from the applicant (buyer) to the
beneficiary (seller).
Confirmed Sight Letter Of Credit
With a confirmed sight letter of credit, the payment of funds also flows from the applicant (buyer) to the beneficiary (seller). However, the payment made by the negotiating/confirming bank is made without recourse to the beneficiary.
