A comfort letter is a document prepared by an accounting firm assuring the financial soundness or backing of a company. The comfort letter can be issued by a Certified Public Accountant declaring no indication of false or misleading information in the financial statements and that the company's prospectus follows the prevailing accounting standards. This is sometimes used in connection with an initial public offering. Comfort letters are also sometimes provided by those involved in evaluating a company's assets, for instance, in the case of oil and gas companies, third-party reserve engineering firms.
A comfort letter may also be used as written assurance by a subsidiary's parent company or bank used to offer 'comfort' to the buyer as to the seller's ability or willingness to perform its obligations. Comfort letters are often used because the seller is unable or unwilling to provide a guarantee on a certain outcome, such as the performance of a security.
Comfort letters are typically signed prior to the pricing decision or closing date for a given public offering or other transaction, as a part of the due diligence process. Subsequently, a "bring-down" letter is used to re-verify, as of a later date, that the original comfort letter is still valid.
A letter of comfort is a communication from a party to a contract to the other party that indicates an initial willingness to enter into a contractual obligation absent the elements of a legally enforceable contract. The objective is to create a morally binding but not legally binding assurance.
Generally, a letter of comfort is drafted only in vague terms, to avoid creating enforceable contract terms. Few nations regulate letters of comfort by statute; whether a letter of comfort creates legally enforceable contractual terms is often determined only by courts of law, based solely on the wording of the document. Despite their nonbinding status, letters of comfort nonetheless provide risk mitigation because the parent company is putting its own reputation in jeopardy.
In international contracts, letters of comfort are often used to assure a contracting party that a parent corporation will provide its subsidiary with the necessary resources to fulfill the contract. However, under both international and European Union law, a letter of comfort does not require the parent corporation to fulfill the obligations incurred by its subsidiary. When used to provide support for a subsidiary's actions, a letter of comfort usually consists of three terms:
What Does Letter of Comfort Mean? | Comfort Letter | MT799 | Bank Comfort Letter
This video explains What Does Letter of Comfort Mean & the advantages of using Bank Comfort Letter for your trade deals. Prove your financial strength to your supplier by availing Bank Comfort Letter from us. Apply now: https://importletterofcredit.com/bank-comfort-letter/
To Find the Right Solution for Your Day-to-Day Trade Finance Needs, “𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐎𝐮𝐫 𝐘𝐨𝐮𝐓𝐮𝐛𝐞 𝐂𝐡𝐚𝐧𝐧𝐞𝐥” and Click the “𝐁𝐞𝐥𝐥” Icon!
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published: 15 Apr 2021
What is a Comfort Letter
For additional information, visit: https://act.webull.com/nt/OK7GVRt9ngH7/eq7/inviteUs/ Today, we are living in tough times. The entire global economy is on a downswing and we must do what we can to save our money as much and as early as possible even if it wants us to “force” ourselves for doing it. Yes, we can't change the big scenario alone, but we at least can take hold of our own circumstances and make changes now to help ensure the security of our household. Every day people work hard to earn enough money to buy the products that they want and need. However, sometimes after all the hard work people still don't have enough to purchase their ideal products. Thankfully, many companies understand this problem and offer the "pay later scheme" which allows individuals to enjoy products tod...
published: 05 Sep 2021
What Is a Comfort Letter? .
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. #accounting #Chartofaccounts #LearnAccountingeasily #Checkingaccount #Business #LLC #Ccorporation #whatisascorporation #Depreciation
https://realbusinessgroups.com/
published: 10 Aug 2022
What is a letter of comfort?
The Reserve Bank of India recently disallowed the use of Letters of Comfort (LoC), which may impact loans worth Rs 35,000 crore. What is this letter of comfort? Let us find out
#letterofcomfort #rbi #loans #finance #banks #nbfc #whatis
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published: 16 Aug 2022
Banking and Financial Terms - LETTER OF COMFORT
Video explains the concept of letter of comfort
published: 24 Feb 2020
Finance: What is a Comfort Letter?
A comfort letter is a letter written by an expert stating that what a company says it has or does...is what it actually has or does.
published: 03 Jul 2018
Bank Comfort Letter | BCL MT799 | Comfort Letter from Banks | Financial Instruments
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published: 12 Nov 2021
AUD: Other Engagements, Ethics, and Professional Responsibilities: Comfort Letter Overview
Studying for the CPA Exam? Watch Becker’s Skills Practice video to learn about AUD: Other Engagements, Ethics, and Professional Responsibilities: Comfort Letter Overview.
Visit the Becker CPA blog for more CPA Exam test-taking tips: https://www.becker.com/blog/cpa
Explore Becker’s CPA Exam Review products: https://www.becker.com/cpa-review
These videos were part of a previous version of Becker’s learning curriculum and may reference materials that no longer exist.
As of July 2021, this content is no longer tested on the CPA Exam. However, Becker feels this content is still relevant to the accounting profession.
#CPA #CPAExam #AUD #AccountingEthics #AuditEngagement #Audit
published: 07 Jul 2021
Top Tips for Reviewing Comfort Letters Excerpt
A comfort letter is a letter delivered by an issuer's independent accountants to the underwriters or initial purchasers in connection with an offering that provides certain assurances with respect to financial information included in a registration statement, prospectus, or offering memorandum used in a securities offering. Underwriting agreements and purchase agreements typically require as a condition that at pricing a comfort letter be provided to the underwriters or initial purchasers. Comfort letters assist underwriters to establish a due diligence defense under the securities laws.
Mayer Brown partner Ryan Castillo discusses practice pointers that can help in reviewing and negotiating comfort letters. See the full video https://plus.lexis.com/document/index?pdpermalink=c7109d96-5807...
published: 04 Aug 2022
What is Letter Of Comfort | क्या है लेटर ऑफ कम्फर्ट? | Sanskriti IAS
A letter of comfort is a written document that provides a level of assurance that an obligation will ultimately be met. A letter of comfort is often couched in vague wording, in order to prevent the issuer from being saddled with a legally enforceable obligation.
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1. Current Affairs Analysis: https://bit.ly/3olw9nU
2. Prelims Diary (Target PT 2022): https://bit.ly/3skkGWS
3. PT Think & Solve: https://bit.ly/3gixIhV
4. Important Facts: https://bit.ly/32V2qur
5. Strategy : https://bit.ly/34v3Iga
==================
𝐅𝐨𝐫 𝐒𝐚𝐧𝐬𝐤𝐫𝐢𝐭𝐢 𝐈𝐀𝐒 𝐮𝐩𝐝𝐚𝐭𝐞𝐬 𝐟𝐨𝐥𝐥𝐨𝐰 𝐮𝐬 𝐚𝐭:
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This video explains What Does Letter of Comfort Mean & the advantages of using Bank Comfort Letter for your trade deals. Prove your financial strength to your s...
This video explains What Does Letter of Comfort Mean & the advantages of using Bank Comfort Letter for your trade deals. Prove your financial strength to your supplier by availing Bank Comfort Letter from us. Apply now: https://importletterofcredit.com/bank-comfort-letter/
To Find the Right Solution for Your Day-to-Day Trade Finance Needs, “𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐎𝐮𝐫 𝐘𝐨𝐮𝐓𝐮𝐛𝐞 𝐂𝐡𝐚𝐧𝐧𝐞𝐥” and Click the “𝐁𝐞𝐥𝐥” Icon!
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This video explains What Does Letter of Comfort Mean & the advantages of using Bank Comfort Letter for your trade deals. Prove your financial strength to your supplier by availing Bank Comfort Letter from us. Apply now: https://importletterofcredit.com/bank-comfort-letter/
To Find the Right Solution for Your Day-to-Day Trade Finance Needs, “𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐎𝐮𝐫 𝐘𝐨𝐮𝐓𝐮𝐛𝐞 𝐂𝐡𝐚𝐧𝐧𝐞𝐥” and Click the “𝐁𝐞𝐥𝐥” Icon!
For More Info:
Email Us: [email protected]
Call Us: +971-4-5519699
Call/WhatsApp/BOTIM: +971-504648761
Other Related Videos:
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#BankComfortLetter #LetterofComfort #BCLMT799 #BankBCL #ComfortLetter #MT799 #Export #import #investmentinexport #howmuchinvestmentrequiredtostartbusiness #exportimportprocedure #tradefinance #globaltradefinance #internationaltradefinance #TradeFinanceProviders #FinancialInstrumentsProviders #BankConfirmationLetter #InternationalTradeFinance #BCL #WhatDoesComfortLetterMean #WhatisaBankComfortLetter
For additional information, visit: https://act.webull.com/nt/OK7GVRt9ngH7/eq7/inviteUs/ Today, we are living in tough times. The entire global economy is on a d...
For additional information, visit: https://act.webull.com/nt/OK7GVRt9ngH7/eq7/inviteUs/ Today, we are living in tough times. The entire global economy is on a downswing and we must do what we can to save our money as much and as early as possible even if it wants us to “force” ourselves for doing it. Yes, we can't change the big scenario alone, but we at least can take hold of our own circumstances and make changes now to help ensure the security of our household. Every day people work hard to earn enough money to buy the products that they want and need. However, sometimes after all the hard work people still don't have enough to purchase their ideal products. Thankfully, many companies understand this problem and offer the "pay later scheme" which allows individuals to enjoy products today and pay later. The goal of nearly every person in this world is to be happy. We search for it everywhere we go and through everything we do. It's even written in the U.S. Constitution-- that we all have the right to “life, love, and the pursuit of happiness.”
Goal setting is the bottom line when it comes to achieving what your heart desires in life. When you set goals, you set yourself up for long-term success and you should know that this is the number 1 technique used by super successful people. How are you going to be someone great in life if you don’t have a map to follow. Goal setting is a powerful strategy that you can use to help you achieve your dreams in your life. When you put your dreams into written words, they will become objectives for you, they will become goals for you to achieve in your life and most importantly, they become achievable. To be successful in business these days, whether you work for a company or for yourself, you must be able to come up with new, bright ideas to make the business more successful. Every man-made object in the World began as an idea in someone’s head, and because the idea was turned into action, we are able to benefit from someone’s thoughts.
Do you want to create commanding goals with the power to propel you past every obstacle? Bolster them with these potent tips and you’ll be unstoppable.
For additional information, visit: https://act.webull.com/nt/OK7GVRt9ngH7/eq7/inviteUs/ Today, we are living in tough times. The entire global economy is on a downswing and we must do what we can to save our money as much and as early as possible even if it wants us to “force” ourselves for doing it. Yes, we can't change the big scenario alone, but we at least can take hold of our own circumstances and make changes now to help ensure the security of our household. Every day people work hard to earn enough money to buy the products that they want and need. However, sometimes after all the hard work people still don't have enough to purchase their ideal products. Thankfully, many companies understand this problem and offer the "pay later scheme" which allows individuals to enjoy products today and pay later. The goal of nearly every person in this world is to be happy. We search for it everywhere we go and through everything we do. It's even written in the U.S. Constitution-- that we all have the right to “life, love, and the pursuit of happiness.”
Goal setting is the bottom line when it comes to achieving what your heart desires in life. When you set goals, you set yourself up for long-term success and you should know that this is the number 1 technique used by super successful people. How are you going to be someone great in life if you don’t have a map to follow. Goal setting is a powerful strategy that you can use to help you achieve your dreams in your life. When you put your dreams into written words, they will become objectives for you, they will become goals for you to achieve in your life and most importantly, they become achievable. To be successful in business these days, whether you work for a company or for yourself, you must be able to come up with new, bright ideas to make the business more successful. Every man-made object in the World began as an idea in someone’s head, and because the idea was turned into action, we are able to benefit from someone’s thoughts.
Do you want to create commanding goals with the power to propel you past every obstacle? Bolster them with these potent tips and you’ll be unstoppable.
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 m...
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. #accounting #Chartofaccounts #LearnAccountingeasily #Checkingaccount #Business #LLC #Ccorporation #whatisascorporation #Depreciation
https://realbusinessgroups.com/
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. #accounting #Chartofaccounts #LearnAccountingeasily #Checkingaccount #Business #LLC #Ccorporation #whatisascorporation #Depreciation
https://realbusinessgroups.com/
The Reserve Bank of India recently disallowed the use of Letters of Comfort (LoC), which may impact loans worth Rs 35,000 crore. What is this letter of comfort?...
The Reserve Bank of India recently disallowed the use of Letters of Comfort (LoC), which may impact loans worth Rs 35,000 crore. What is this letter of comfort? Let us find out
#letterofcomfort #rbi #loans #finance #banks #nbfc #whatis
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The Reserve Bank of India recently disallowed the use of Letters of Comfort (LoC), which may impact loans worth Rs 35,000 crore. What is this letter of comfort? Let us find out
#letterofcomfort #rbi #loans #finance #banks #nbfc #whatis
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Get Bank Comfort Letter to show your financial capability to your supplier! No need to block your cash funds to get BCL MT799 from us: Visit: https://importlett...
Get Bank Comfort Letter to show your financial capability to your supplier! No need to block your cash funds to get BCL MT799 from us: Visit: https://importletterofcredit.com/bank-comfort-letter/
For More Info:
Email Us: [email protected]
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Other Suggested Videos:
Import Bulk Garlic from China - https://www.youtube.com/watch?v=oqlnIf_J_mA
Get Trade Finance Online - https://www.youtube.com/watch?v=SabOkQYD-F0
#BankComfortLetter #LetterofComfort #BCLMT799 #BankBCL #ComfortLetter #MT799 #HowtoGetBankComfortLetter #BankConfirmationLetter #ProofofFunds #ConfirmationLetter #LetterofComfort #SWIFTMT799 #MT799 #SWIFTCode #SWIFTMessage #FundConfirmationMessage #TradeFinance #InternationalTradeFinance #TradeFinanceProviders #GlobalTradeFinance #FinancialNews #TradeFinanceNews #LetterofCredit #StandbyLetterofCredit #BankGuarantee #BGMT760 #BGproviders #BGMT760 #PerformanceGuarantee #AdvancePaymentGuarantee #ComfortLetterfromBank
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Import Bulk Garlic from China - https://www.youtube.com/watch?v=oqlnIf_J_mA
Get Trade Finance Online - https://www.youtube.com/watch?v=SabOkQYD-F0
#BankComfortLetter #LetterofComfort #BCLMT799 #BankBCL #ComfortLetter #MT799 #HowtoGetBankComfortLetter #BankConfirmationLetter #ProofofFunds #ConfirmationLetter #LetterofComfort #SWIFTMT799 #MT799 #SWIFTCode #SWIFTMessage #FundConfirmationMessage #TradeFinance #InternationalTradeFinance #TradeFinanceProviders #GlobalTradeFinance #FinancialNews #TradeFinanceNews #LetterofCredit #StandbyLetterofCredit #BankGuarantee #BGMT760 #BGproviders #BGMT760 #PerformanceGuarantee #AdvancePaymentGuarantee #ComfortLetterfromBank
Studying for the CPA Exam? Watch Becker’s Skills Practice video to learn about AUD: Other Engagements, Ethics, and Professional Responsibilities: Comfort Letter...
Studying for the CPA Exam? Watch Becker’s Skills Practice video to learn about AUD: Other Engagements, Ethics, and Professional Responsibilities: Comfort Letter Overview.
Visit the Becker CPA blog for more CPA Exam test-taking tips: https://www.becker.com/blog/cpa
Explore Becker’s CPA Exam Review products: https://www.becker.com/cpa-review
These videos were part of a previous version of Becker’s learning curriculum and may reference materials that no longer exist.
As of July 2021, this content is no longer tested on the CPA Exam. However, Becker feels this content is still relevant to the accounting profession.
#CPA #CPAExam #AUD #AccountingEthics #AuditEngagement #Audit
Studying for the CPA Exam? Watch Becker’s Skills Practice video to learn about AUD: Other Engagements, Ethics, and Professional Responsibilities: Comfort Letter Overview.
Visit the Becker CPA blog for more CPA Exam test-taking tips: https://www.becker.com/blog/cpa
Explore Becker’s CPA Exam Review products: https://www.becker.com/cpa-review
These videos were part of a previous version of Becker’s learning curriculum and may reference materials that no longer exist.
As of July 2021, this content is no longer tested on the CPA Exam. However, Becker feels this content is still relevant to the accounting profession.
#CPA #CPAExam #AUD #AccountingEthics #AuditEngagement #Audit
A comfort letter is a letter delivered by an issuer's independent accountants to the underwriters or initial purchasers in connection with an offering that prov...
A comfort letter is a letter delivered by an issuer's independent accountants to the underwriters or initial purchasers in connection with an offering that provides certain assurances with respect to financial information included in a registration statement, prospectus, or offering memorandum used in a securities offering. Underwriting agreements and purchase agreements typically require as a condition that at pricing a comfort letter be provided to the underwriters or initial purchasers. Comfort letters assist underwriters to establish a due diligence defense under the securities laws.
Mayer Brown partner Ryan Castillo discusses practice pointers that can help in reviewing and negotiating comfort letters. See the full video https://plus.lexis.com/document/index?pdpermalink=c7109d96-5807-4d87-9bf3-c2d2a759990d&pdisurlapi=true&pdmfid=1530671&crid=1ac439ff-93b2-4bda-882a-06f6fa4a615a.
A comfort letter is a letter delivered by an issuer's independent accountants to the underwriters or initial purchasers in connection with an offering that provides certain assurances with respect to financial information included in a registration statement, prospectus, or offering memorandum used in a securities offering. Underwriting agreements and purchase agreements typically require as a condition that at pricing a comfort letter be provided to the underwriters or initial purchasers. Comfort letters assist underwriters to establish a due diligence defense under the securities laws.
Mayer Brown partner Ryan Castillo discusses practice pointers that can help in reviewing and negotiating comfort letters. See the full video https://plus.lexis.com/document/index?pdpermalink=c7109d96-5807-4d87-9bf3-c2d2a759990d&pdisurlapi=true&pdmfid=1530671&crid=1ac439ff-93b2-4bda-882a-06f6fa4a615a.
A letter of comfort is a written document that provides a level of assurance that an obligation will ultimately be met. A letter of comfort is often couched in ...
A letter of comfort is a written document that provides a level of assurance that an obligation will ultimately be met. A letter of comfort is often couched in vague wording, in order to prevent the issuer from being saddled with a legally enforceable obligation.
=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵
👉 𝐎𝐮𝐫 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐏𝐥𝐚𝐲𝐥𝐢𝐬𝐭𝐬:
1. Current Affairs Analysis: https://bit.ly/3olw9nU
2. Prelims Diary (Target PT 2022): https://bit.ly/3skkGWS
3. PT Think & Solve: https://bit.ly/3gixIhV
4. Important Facts: https://bit.ly/32V2qur
5. Strategy : https://bit.ly/34v3Iga
==================
𝐅𝐨𝐫 𝐒𝐚𝐧𝐬𝐤𝐫𝐢𝐭𝐢 𝐈𝐀𝐒 𝐮𝐩𝐝𝐚𝐭𝐞𝐬 𝐟𝐨𝐥𝐥𝐨𝐰 𝐮𝐬 𝐚𝐭:
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A letter of comfort is a written document that provides a level of assurance that an obligation will ultimately be met. A letter of comfort is often couched in vague wording, in order to prevent the issuer from being saddled with a legally enforceable obligation.
=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵
👉 𝐎𝐮𝐫 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐏𝐥𝐚𝐲𝐥𝐢𝐬𝐭𝐬:
1. Current Affairs Analysis: https://bit.ly/3olw9nU
2. Prelims Diary (Target PT 2022): https://bit.ly/3skkGWS
3. PT Think & Solve: https://bit.ly/3gixIhV
4. Important Facts: https://bit.ly/32V2qur
5. Strategy : https://bit.ly/34v3Iga
==================
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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. #accounting #Chartofaccounts #LearnAccountingeasily #Checkingaccount #Business #LLC #Ccorporation #whatisascorporation #Depreciation
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The Reserve Bank of India recently disallowed the use of Letters of Comfort (LoC), which may impact loans worth Rs 35,000 crore. What is this letter of comfort? Let us find out
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Studying for the CPA Exam? Watch Becker’s Skills Practice video to learn about AUD: Other Engagements, Ethics, and Professional Responsibilities: Comfort Letter Overview.
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A comfort letter is a letter delivered by an issuer's independent accountants to the underwriters or initial purchasers in connection with an offering that provides certain assurances with respect to financial information included in a registration statement, prospectus, or offering memorandum used in a securities offering. Underwriting agreements and purchase agreements typically require as a condition that at pricing a comfort letter be provided to the underwriters or initial purchasers. Comfort letters assist underwriters to establish a due diligence defense under the securities laws.
Mayer Brown partner Ryan Castillo discusses practice pointers that can help in reviewing and negotiating comfort letters. See the full video https://plus.lexis.com/document/index?pdpermalink=c7109d96-5807-4d87-9bf3-c2d2a759990d&pdisurlapi=true&pdmfid=1530671&crid=1ac439ff-93b2-4bda-882a-06f6fa4a615a.
A letter of comfort is a written document that provides a level of assurance that an obligation will ultimately be met. A letter of comfort is often couched in vague wording, in order to prevent the issuer from being saddled with a legally enforceable obligation.
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3. PT Think & Solve: https://bit.ly/3gixIhV
4. Important Facts: https://bit.ly/32V2qur
5. Strategy : https://bit.ly/34v3Iga
==================
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A comfort letter is a document prepared by an accounting firm assuring the financial soundness or backing of a company. The comfort letter can be issued by a Certified Public Accountant declaring no indication of false or misleading information in the financial statements and that the company's prospectus follows the prevailing accounting standards. This is sometimes used in connection with an initial public offering. Comfort letters are also sometimes provided by those involved in evaluating a company's assets, for instance, in the case of oil and gas companies, third-party reserve engineering firms.
A comfort letter may also be used as written assurance by a subsidiary's parent company or bank used to offer 'comfort' to the buyer as to the seller's ability or willingness to perform its obligations. Comfort letters are often used because the seller is unable or unwilling to provide a guarantee on a certain outcome, such as the performance of a security.
Comfort letters are typically signed prior to the pricing decision or closing date for a given public offering or other transaction, as a part of the due diligence process. Subsequently, a "bring-down" letter is used to re-verify, as of a later date, that the original comfort letter is still valid.