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forfaiting

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Collins Concise English Dictionary © HarperCollins Publishers::

forfaiting /ˈfɔːˌfeɪtɪŋ/ n

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

Etymology: 20th Century: from French forfaire to forfeit or surrender

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