Forfaiting,in which a bank purchases at a discount from an importer,is a series of promissory notes in favor of an exporter,

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Forfaiting is a medium-term form of trade financing as it typically involves the purchase of promissory notes with payment due within a range of 180 days to five years. It differs from other forms of trade financing such as factoring (short-term) and export credit (long-term).

Forfaiting,in Which a Bank Purchases at a Discount from an Importer,is