Practical Law UK Glossary 1-107-5782 (Approx. 3 pages)
Glossary
Forfaiting.
The supply of fixed rate, without recourse trade finance through the discounting of bills of exchange or promissory notes. The bills of exchange or promissory notes will typically have been issued as deferred consideration for a capital goods export transaction. The finance is made available through the delivery of the endorsed instrument against payment of their discounted face value by the forfaiter.