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Forfaiting [Last Updated by: admin on 2012-01-01]
The purchase by the forfaiter of an exporter's accounts receivable which are based on negotiable instruments such as bills of exchange and promissory notes. In contrast to factoring, forfaiting involves a series of independent, medium to longer term obligations of higher value. Since the forfaiter purchases the bills on a non-recourse basis, he assumes both commercial and political risk.

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