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]
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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Increase of R$397.0 million in the balance of Other Assetsrelated to the growintaxes recoverable, mainly due to the recognition of tax credits regardingthe processof exclusionof ICMS tax in the base calculation of PIS and COFINS taxes; *Increase in Inventories of R$277.0 million mainly in function of price rises in raw materials, especially coal;*Reduction in Suppliers of R$349.0 million in function of the lower balance payable to slab and raw materials suppliers; *Increase of R$479.0 million in Other Liabilities due to forfaiting operations regardingtoslab and raw materials supply.
It helps to be knowledgeable about alternative ways to extend payment terms and improve cash flow, Being able to suggest investigating supply chain financing programs or ghost card programs, which are often bundled together, can provide win-win situations for both the supplier that extends payment days and the customer that has options about how quickly they are paid, Other options such as factoring, or forfaiting are tools your customer can use to improve their DSO.
As of March 31, 2018 Usiminas total consolidated debt was BRL6.2 billion, this includes BRL527 million of short-term forfaiting transaction that Fitch includes in the calculation.
Fourteen partners from the EMEAI region participated including: Afrasia Bank Limited, Al Ahli Bank of Kuwait K.S.C.P, Bank Muscat, Commerzbank AG, ICICI Bank, Investec Bank (Mauritius) Limited, London Forfaiting, Mizuho Bank, Ltd, National Bank of Ras Al-Khaimah, Standard Chartered Bank, State Bank Mauritius, The Mauritius Commercial Bank, United Arab Bank and Abu Dhabi Commercial Bank PJSC as agent bank.
Ecobank Nigeria, the group's largest affiliate, responsible for over 40 percent of its earnings, also won the Trade and Forfaiting Review Deal of the Year Awards.
Through ownership of an "in-house" bank, the company said it will be able to supplement its core business with additional targeted trade and structured finance products, including, among others, collateral-based lending to suppliers and customers, factoring, discounting and forfaiting of receivables and issuing sureties.
Compare commercial and standby letters of credit, standard and silent letter of credit confirmations, bank and corporate guarantees, forfaiting, factoring, credit insurance, credit derivatives, and foreign exchange contracts from the perspective of what risks each one covers
conduct, , filing documents with the SEC alone is insufficient to confer subject matter jurisdiction" under the conduct test); Euro Trade & Forfaiting, Inc.
99/2006 just specifies that credit institutions grant loans, including: consumer credits, mortgage credits, factoring with or without recourse, financing of commercial transactions, including forfaiting. Consequently, the regulatory framework on credit activities is considerably completed by numerous special laws, aimed at the diversity of categories of credits that can be granted by credit institutions, but also by certain provisions of the Civil Code in the field of loan with interest (art .
However, regional banks are stepping up to fill this void and alternative forms of trade finance are coming on stream, such as supply chain finance, export credits insurance-backed finance and significant uptick in factoring and forfaiting.