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 Origin for forfaiting

C20: from French forfaire to forfeit or surrender
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012