Forfaiting: Difference between revisions
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* [[Promissory note]] | * [[Promissory note]] | ||
* [[Recourse]] | * [[Recourse]] | ||
* [[Uniform Rules for Forfaiting]] | |||
* [[Without recourse]] | * [[Without recourse]] | ||
Revision as of 15:13, 20 June 2016
A process of purchasing a negotiable instrument without recourse to previous holders, the credit of the negotiable instrument normally having been strengthened by the additional of an aval.
A forfaiter, usually a bank or a non-bank financial institution, provides forfaiting services.
The forfaiting agreement sets out the arrangement between the initial seller and the primary forfaiter.
Forfaiting is sometimes known as 'bill discounting'.
