A soft probe is a confirmation method used by

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

s to verify

funding Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm use ...

for a

seller Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. A period during which goods are sold for a reduced price may also be referred ...

from a

buyer Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. The term may also refer to a contractual o ...

, conducted by the seller's bank to the buyer's bank. Such a probe is not recorded in the buyer's banking information, and usually nothing but confirmation or lack of confirmation is recorded by the seller. Authorization for a soft probe is normally provided as part of a bank letter of comfort provided by a buyer when placing Irrevocable Corporate Purchase Order in

international trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (See: World economy.) In most countries, such trade represents a significan ...

References

Banking Banking terms {{finance-stub