Forfaiting



/ˈfɔːˌfeɪtɪŋ/
noun
1.
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

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    [fawr-fit] /ˈfɔr fɪt/ noun 1. a fine; penalty. 2. an act of forfeiting; . 3. something to which the right is lost, as for commission of a crime or misdeed, neglect of duty, or violation of a contract. 4. an article deposited in a game because of a mistake and redeemable by a fine or […]



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