Parent Company Comfort Letter Template

On the date hereof the representatives shall have received from ernst young llp independent registered public accountants for the company a letter dated the date hereof addressed to the underwriters in form and substance satisfactory to the representatives containing statements and information of the type ordinarily included in accountant s comfort letters to.

Parent company comfort letter template. Name of ai the company the banking ordinance cap 155 the ordinance in support of an application by the company for authorization as under the ordinance we state and confirm the following. Sample comfort letter re. It is usually used where the parent company is unable or unwilling to give a guarantee but wishes to give some comfort to the lender in respect of the subsidiary s ability to perform its obligations.

Request for client financial information dear. Comfort letters are generally used as alternatives to guarantees. A comfort letter is a document of assurance issued by a parent company or an accounting firm big four accounting firms the big four accounting firms refer to deloitte pricewaterhousecoopers pwc kpmg and ernst young.

These firms are the four largest professional services firms in the world that provide audit transaction advisory taxation consulting risk. The monetary authority subject. Signature the name of the member of the management board of the subsidiary the name of the subsidiary date.

On behalf of the name of the parent company signature the name of the parent company s authorised representative member of the management board. A comfort letter is used by the parent company to encourage a lending institution to issue a credit to a subsidiary. A parent company may be called upon to provide some comfort to a party entering into a contractual relationship with its subsidiary.

I have received the comfort letter. Name of ai the company the banking ordinance cap 155 the ordinance in support of an application by the company for authorization as under the ordinance we state and confirm the following. Sample letter of comfort the letter should be on the parent bank s letterhead to.

Sample letter of comfort the letter should be on the parent bank s letterhead to. They are usually provided by a parent company to a lender where the parent company is unable or unwilling to provide a guarantee to the lender in respect of a loan the lender has made to one of the parent s subsidiaries. What is a comfort letter.