Forfaiting is a flexible and fast form of financing in the form of purchasing short-term and medium-term receivables without the right of recourse to the previous creditor. This is the quickest method of financing exporters through purchase of transferable instruments.
As support for exports and imports in forfaiting the objects of the purchase must be:
- foreign receivables from goods exports or services rendered on the basis of a contract for work abroad
- foreign receivables on the basis of sales of goods abroad on credit (commercial credit)
- claims by foreign business where the debtor is a domestic company (imports of goods and services with agreed postponement of payment)
Instruments suitable for forfaiting:
- bills of exchange, if possible Avals or with a bank guarantee
- accreditation documents open for the benefit of the domestic exporter
- accreditation documents open for the benefit of the foreign exporter
- bank guarantees issued for the benefit of the domestic exporter
- bank guarantees issued for the benefit of the foreign exporter.
These instruments must be transferable. It is desirable to plan for forfaiting before concluding a contract in export-import transactions. Therefore if you are an exporter or an importer, contact us with confidence in the earliest phases of negotiations with your business partner at:
Privredna banka Zagreb
The Financial Institutions and Special Financing Division
Kralja Držislava 5
Telephone: 01/636 0568