forfaiting

/ ˈfɔːˌfeɪtɪŋ /

noun

1. the financial service of discounting, without recourse, a promissory note, bill of exchange, letter of credit, etc, received from an overseas buyer by an exporter; a form of debt discounting

Word History and Origins

Origin of forfaiting¹

C20: from French forfaire to forfeit or surrender

Example Sentences

Another avenue to service Iran deals is "forfaiting," in which a third party buys a letter of credit from an exporter and takes responsibility for recovering payment from the importer.

From Wall Street Journal

My work has also appeared Dow Jones’ Financial News, Euromoney, Trade & Forfaiting Review and a range of trade publications covering the global capital markets, private equity, loan, credit and restructuring sectors.

From Forbes

My work has also appeared Dow Jones’ Financial News, Euromoney, Trade & Forfaiting Review and a range of trade publications covering the global capital markets, private equity, loan, credit and restructuring sectors.

From Forbes

My work has also appeared Dow Jones’ Financial News, Euromoney, Trade & Forfaiting Review and a range of trade publications covering the global capital markets, private equity, loan, credit and restructuring sectors.

From Forbes

Secondly, because sloth is a kind of disease in a well-ordered Common-wealth wee further charge and command by the vertue of our absolute authority, that no man bee found winking, or pincking, or nodding, much lesse snorting, upon paine of forfaiting twelve pence, as for infirmity.

From Project Gutenberg