FORFAITING

Shortening of credit periods

Forfaiting is understood as the purchase of receivables from export transactions which are due to fall at a later date without recourse to the previous holders of the claims. It involves the idea of surrendering rights. In the case of forfaiting, the waiver of recourse is the most important feature. The buyer of the receivables is described as the forfaiter, the seller as forfaitist. The receivables seller, who is identical to the exporter in the initial sale, is only liable for the legally irrevocable continuance of the receivable after it has been transferred to the forfaiter. However, the economic risk with respect to the debtor and the country risk with respect to the debtor’s country are transferred to the buyer. The forfaiter will waive every liability in connection with the underlying export transactions. Thus, settlement and performance risks from the underlying transaction are not transferred to the buyer, but remain with the seller of the receivable: the forfaiter therefore acquires an abstract claim against the debtor.

Forfaiting through DZ BANK offers the possibility of selling claims towards the importer on a non-recourse basis. In this way, your liquidity position can be improved, with relief to the balance sheet and any price risks associated with foreign currency transactions can be avoided. There are also the following advantages to be considered:

 
  • No interest rate risk (as in case of a supplier credit)
 
  • Simple processing, low administrative expenses
 
  • Good calculation basis
 
  • Extension of the borrowing limit

Agreements under HERMES/ECA cover (41 KB)
Current Key Data (in German) (238 KB)

 
Frankfurt
Winfried.Muench@dzbank.de
Global Product Head
Phone: +49(0)697447-1525
Fax: +49 (0)69 7447-6175

Manfred.Fischer@dzbank.de
Head Export Finance
Phone:+49(0)697447-2898
Fax:+49 (0)69 7447-7374