国际结算(双语)第九章：福费廷chapter9Forfaiting详解.pptxVIP

International Settlement Chapter9 Forfaiting Chapter9 Forfaiting 9.1 Evolution and development of Forfaiting 9.2 Characteristics and documentation of Forfaiting 9.3 Costs of Forfaiting Business 9.4 Parties to Forfaiting 9.5 Procedure of Forfaiting 9.6 Differences between Forfaiting and other trade financing method 9.1 Evolution and development of Forfaiting 1. Evolution and development of forfaiting: Gradually, consumer goods were replaced by capital goods. such as machines and machine parts. 2. Definition of Forfaiting:According to the Oxford Dictionary of Finance, forfaiting is “a form of debt discounting for exporters in which a forfeiter accepts at a discount and without recourse promissory notes, bills of exchange, or letters of credit received from a foreign buyer by an exporter. 3. Basic conditions: the forfaiting must be based on a real trade contract and this contract must be lawful; the exporter must have a legal person status, have the license to run import and export, have a domestic or foreign currency account with forfaiter and have a good credit; the importer must pay in installment by draft, promissory note or some other instruments. 9.2 Characteristics and documentation of Forfaiting 1. Characteristics of Forfaiting: From the legal nature, forfaiting is a contract transaction; The transaction object of forfeiting is negotiable instrument; The forfeiting business is conducted on the basis of non-recourse; Forfeiting normally provide financing to capital goods; Forfeiting provide medium-long term fixed rate finance. 2. Documentation of Forfaiting: 9.3 Costs of Forfaiting Business Discount charge Commitment fee Option fee Discount for grace period 9.4 Parties to Forfaiting 9.5 Procedure of Forfaiting Exporter Importer Forfaiter Issuing Bank (Accepting Bank) Advising Bank (Guarantor) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 1.The exporter requires for forfaiting quotation from a forfaiter and the forfaiter provides a forfaiting proposal for the e