Meaning of “forfaiting” in the English Dictionary

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"forfaiting" in Business English

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forfaitingnoun [ U ]

uk /ˈfɔːfɪtɪŋ/ us FINANCE, COMMERCE

a situation in which a financial organization buys a debt owed to an exporter for goods delivered to an importer. The importer must then pay the financial organization instead of the exporter.

(Definition of “forfaiting” from the Cambridge Business English Dictionary © Cambridge University Press)