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LSDefine

Simple English definitions for legal terms

silent confirmation

Read a random definition: motion papers

A quick definition of silent confirmation:

Silent confirmation is when a bank confirms a letter of credit based on the request of the person who will receive the money, instead of the bank that issued the letter of credit. Confirmation means giving formal approval or verifying something. It can also mean making sure that a legal agreement is enforceable.

A more thorough explanation:

Silent confirmation is a type of confirmation where a bank confirms a letter of credit based on the request of the beneficiary of the credit rather than the issuing bank.

For example, if a company in the United States wants to buy goods from a company in China, they may use a letter of credit to ensure payment. The Chinese company may request a silent confirmation from their bank, which means that the bank will confirm the letter of credit without notifying the issuing bank in the United States.

This type of confirmation can be useful for the beneficiary because it provides an additional layer of security and reduces the risk of non-payment. However, it may also increase the cost of the transaction because the bank providing the silent confirmation will charge a fee.

silence | silentiary

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HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
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