Forfeiting

In this system of financing the lender out rightly purchase the credit instruments /notes (drafts, bills of exchange, and other instruments).

The benefit in this system is as follows:-

  1. Importer: This finance is nonrecourse one. Which means the liability of the importer is minimized he does not have to pay extra even if the lender cannot recover payment from the exporter on the basis of credit instruments/notes which it has purchased from the importer..

  2. Exporter:  Exporter gets instant fund on presentation of relevant documents.

  3. Lender/Forfeiter: The importer is liable for the cost of the contract and receives credit for specified years and at certain per cent interest. The lender/forfeiter deducts interest at an agreed rate for credit period. The lender/forfeiter takes over responsibility for claiming the debt from the importer. It holds the notes until maturity, or sells them to another investor. The holder of the notes presents each note to the bank at which they are payable, as that fall due.

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Thus, the debt instruments are drawn by the exporter, accepted by the importer, and will bear an avail or unconditional guarantee, issue by the importer’s bank

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Importer need not have to worry about the repayment as it is non-recourse finance.

Lender purchase the credit instruments/notes out rightly. That means it doesn’t need to wait for the importer to payback the amount with interest.

Exporter can get its payment instantly on presentation of the document.

Quick & easy.

Who Can apply

Private Ltd

Public Ltd

LLP

Proprietor

Business continuity proof not less than 3 years,Export, Import.

Documentation

KYC

  • PAN card of the company.

  • PAN card of the Promoters/Directors.

  • Business registration document.

  • Company address proof.

Valuable credit instruments/notes (Drafts, bill of exchange and others).

1 year loan schedule statement of any previous running loan.

3 years balance sheet, P&L with audit report.  

1 year bank statement of the company.

3 years I.T.R of the company.

Company
Contact

advice@entfinc.com

Tel: +91 997-161-8355 

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