User:K. Venketaraman

Confirming Houses

"Confirming Houses" acts as intermediary between a buyer and seller and have a role in International trade. They take the role of a "Principal" as well as "Agent"

Purchase negotiations can take place either directly or through the "Confirming house" in their capacity as Buyer's Agent. When shipment effected, 'confirming house' confirm payment to the seller. In some countries, the confirming houses stretch their commitment by accepting full liability as if they are the Principal. At the same time, they remain to be an agent of the buyer.

When taking into account the relationship vis-a-vis with Carrier, they always hold the position of a "Principal".