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What is forfeiting? Forfaiting is a form of financing that involves purchasing discounting receivables, most often in international transactions based, for example, on a global sourcing strategy . The parties to the contract concluded in this way are: Forfaiter/assigner – seller of receivables/exporter, seller of products or services abroad/company using the forfaiting service; Forfaiter – a bank or other financial institution that buys the forfaiter's receivables.
The importer forfaiting debtor obliged to pay and the bank servicing him guarantor also take part in this process, but they are not parties to philippines photo editor the contract. It is worth mentioning that forfaiting is concluded through the so-called an unnamed contract that is not regulated by any legal provisions. This results from the generally applicable principle of freedom of contract in Polish law, which allows you to create their terms in any way you want. Of course, they must still comply with other regulations. Typically, the provisions of civil law regarding the assignment of receivables and sale are used in this case. Forfaiting process.
Forfaiting is based on the fact that the exporter sells his goods outside the country with a long payment term. For this reason, it concludes a trade agreement with the importer, who also becomes the debtor. Then the buyer of the goods turns to a bank or financial institution to secure this payment. This is usually done by issuing a bill of exchange or concluding a letter of credit with the other party to the transaction. The forfaiter then buys the resulting receivable before the end of the payment period and collects discount interest or takes over the risk of the buyer's insolvency.
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發表於 2023-10-10 18:51:41