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forfaiting
/ ˈfɔːˌfeɪtɪŋ /
noun
- 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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Word History and Origins
Origin of forfaiting1
C20: from French forfaire to forfeit or surrender
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