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Forfaiting |
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Characteristics of Forfaiting
- 100% financing without recourse to the seller of the obligation.
- Importer's obligation is normally supported by a local bank guarantee or aval.
- The debt is typically evidenced by Letter of credit, Bills of Exchange, Promissory Notes. Credit periods can range from 90 days to 10 years
- Amounts financed to be upwards of USD 2,50,000/-
- Contract in any of the world's major convertible currencies can be financed.
- Finance to be either on a fixed (market norm) or floating rate basis
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