Forfaiting Glossary:
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Factoring:
The purchase of an seller’s debts, often without recourse, by a factoring company which then undertakes all credit control, collection and sales accounting work.
Fating:
Querying the status of a collection in relation to the exporter’s instructions to the remitting bank.
Forfaiting:
The purchase without recourse to any previous holder of debt instruments due to mature in the future and arising from the provision of goods and services.