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… for problem-free
exporting …
Forfaiting, or all-in discounting, is an operation of discounting
(assignment) of cash-receivables from supplies with deferred payment.
It can be performed either without recourse to the exporter or
with recourse. The Italian exporter assigns its cash-receivables
to the bank and obtains immediate payment for its supply, reduced
by the amount of discount interest. Discounting without recourse
enables the exporter to cut out all risk of failure to pay as
well as any other possible risks, i.e. country risk.
(Full) example of forfaiting
… for selling without taking risks
…
Forfaiting: an example
The Slovenian
company asks the Italian company to pay 4 months after supply
of goods. The Italian exporter contacts NLB.
Italian company: Manufacturer of durable consumer goods,
with various potential B2B buyers in Slovenia who ask for deferred
payment beyond the usual 30 days.
Slovenian company: Private limited company (d.o.o.) with
a positive rating from the bank; it purchases only if payment
can be extended/deferred to 4 months.
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| The procedure requires:
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Request from the Italian company: |
Oct 20, 2003 |
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Offer: |
Oct 21, 2003 |
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Acceptance of the offer, presentation
of the documents, and disbursement: |
Nov 25, 2003 |
In how long? Just over 30 days from the initial request
to disbursement of the financing.
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| The costs: |
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commitment fee - (sometimes) |
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flat fee - management fee |
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discount interest depending on the duration
and risk of the operation |
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| Identity card |
Nova Ljubljanska banka d.d.,
Ljubljana
Trieste Branch
Strada per Vienna 55/1
34151 Trieste TS
Telephone +39 040 67 287 11
Telefax +39 040 67 287 99
E-mail info@nlb.it
Swift: LJBAIT2T
ABI-CAB: 03018-02200
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