Forfaiting and discounting foreign currency

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Forfaiting and discounting in foreign currency

If the company is a the beneficiary of an irrevocable letter of credit in foreign currency, payable on term, or of a promissory note avalised by a bank accepted by BRD, we provide 100% financing of the receivable value (minus the costs of the forfaiting operation).

Financing 100% the value of the receivable
Operation without recourse against the client
Creation of liquidities – improving the cash-flow by collecting the receivable before the due date
Simple documentation.

Forfaiting and discounting in foreign currency is the ideal tool for your business if...

the company is doing export activity, benefiting from receivables arising from avalised commercial papers and irrevocable letters of credit payable at term, in foreign currency.

Can this letter of credit be forfaited?
Yes, if it is an irrevocable letter of credit payable at term, in foreign currency, and the issuing bank is accepted by BRD.

When do I get the financing?

After the documents delivered for the letter of credit have been checked by the issuing bank and confirmed upon the due date.

What are the terms?

Depending if the bank that issued the letter of credit or that avalised the commercial paper is agreed by BRD:

the operation is called forfaiting and it is without recourse if the issuing bank is agreed by BRD and
the operation is called discounting and it is with recourse if the issuing bank is not agreed by BRD.

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Forfaiting and discounting in foreign currency