discount without recourse

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• forfaiting — A form of debt discounting for exporters in which a forfaiter accepts at a discount, and without recourse, a promissory note, bill of exchange, letter of credit, etc., received from a foreign buyer by an exporter. Maturities are normally from one …   Accounting dictionary

• forfaiting — A form of debt discounting for exporters in which a forfaiter accepts at a discount, and without recourse, a promissory note, bill of exchange, letter of credit, etc. , received from a foreign buyer by an exporter. Maturities are normally from… …   Big dictionary of business and management

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