单词 | forfaiting |
释义 | forfaitingforfaiting(ˈfɔːˌfeɪtɪŋ)forfaitingForfaitingForfaitingforfaitingthe provision of finance by one firm (the forfaiter) to another firm (the client) by purchasing goods the client has pre-sold to a customer but for which he has not yet been paid. The forfaiter (which often is a subsidiary of a commercial bank or a specialist firm) buys the client's goods at a discounted cash price, thus releasing ready money for the client to use to finance his WORKING CAPITAL requirements. The forfaiter then arranges to collect the payment when due from the customer to whom the goods have been sold, thus also saving the client the paperwork involved.Forfaiting extends to both domestic and export sales. It can be especially useful in the latter context in the case of expensive capital equipment involving long delivery dates, and where there are possible complications arising from dealing with relatively unknown customers, exchange rate fluctuations, etc. See EXPORTING. forfaitingthe provision of finance by one firm (the forfaiter) to another firm (the client) by purchasing goods that the client has presold to a customer but for which he has not yet been paid. The forfaiter (which often is a subsidiary of a commercial bank or a specialist firm) buys the client's goods at a discounted cash price, thus releasing ready money for the client to use to finance his WORKING CAPITAL requirements. The forfaiter then arranges to collect the payment when due from the customer to whom the goods have been sold, thus also saving the client the paperwork involved. |
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