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Factoring / Forfaiting Arrangement
Factoring can be defined as the conversion of credit sales into cash. Factoring is a transaction where the exporter sells its receivables to a financial institution which is usually a bank.Forefaiting is a mechanism by which the right for export receivables of an exporter (Client) is purchased by a Financial Intermediary (Forfaiter) without recourse to him. Forfaiting is a mechanism of financing export which is available by discounting export receivable.
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