Definition of letter of comfort in English:

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letter of comfort


An assurance about a debt, short of a legal guarantee, given to a bank by a third party.
Example sentences
  • He accessed the financial guarantees through a letter of comfort from Anglo Irish Bank and took a 60 per cent shareholding in Dublin Waterworld.
  • The Bank had a letter of comfort from his solicitors dealing with the compulsory purchase matter.
  • Tilney said BR, which has been operating under financial constraints for many years, suffered another blow in 2002 when Sail withdrew its letter of comfort to the bank.

For editors and proofreaders

Line breaks: let¦ter of com|fort

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