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forfaiting

/ˈfɔːˌfeɪtɪŋ/
noun
1.
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
Word Origin
C20: from French forfaire to forfeit or surrender
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
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