Under Forfeiting, How Does A Seller Obtains An Undertaking
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zareen
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Under Forfeiting, How Does A Seller Obtains An Undertaking
under forfeiting, how does a seller obtains an undertaking similar to a confirmed irrevocable credits?
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iam90
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forfeiting
Zareen,
A essential element of forfaiting is that the forfaiter buys the bill from the seller without recourse to the seller, against the security of bills accepted or guaranteed by a bank acceptable to the forfaiter. It is similar to the confirmed L/c because both are without recourse.
Allan
A essential element of forfaiting is that the forfaiter buys the bill from the seller without recourse to the seller, against the security of bills accepted or guaranteed by a bank acceptable to the forfaiter. It is similar to the confirmed L/c because both are without recourse.
Allan