forfaiting

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forfaiting

(ˈfɔːˌfeɪtɪŋ)
n
(Banking & Finance) 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
[C20: from French forfaire to forfeit or surrender]
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Despite the ease in documentation, forfaited deals can be somewhat structured.