Welcome to NumeroUno Business Consultant
At NumeroUno we believe that in this ever-changing world of International Trade, it is imperative for every organization to ensure that their treasured possessions – their Human Resources, remain completely updated with the latest developments in the world of Trade…
Whether it pertains to Trade Products, Documentation pertaining to the transactions, Rules & Regulations within India and overseas... We train you on anything you want to know on Trade.
Forfaiting in International Trade
The exporter and importer negotiate according to the proposed export sales contract. Then the exporter approaches the forfeiter to ascertain the terms of forfeiting. After collecting the details about the importer, and other necessary documents, forfeiter estimates risk involved in it and then quotes the discount rate.
The exporter then quotes a contract price to the overseas buyer by loading the discount rate and commitment fee on the sales price of the goods to be exported and sign a contract with the forfeiter. Export takes place against documents guaranteed by the importer’s bank and the exporter discounts the bill with the forfeiter and presents the same to the importer for payment on due date.
At NumeroUno we believe that in this ever-changing world of International Trade, it is imperative for every organization to ensure that their treasured possessions – their Human Resources, remain completely updated with the latest developments in the world of Trade…
Whether it pertains to Trade Products, Documentation pertaining to the transactions, Rules & Regulations within India and overseas... We train you on anything you want to know on Trade.
Forfaiting in International Trade
The exporter and importer negotiate according to the proposed export sales contract. Then the exporter approaches the forfeiter to ascertain the terms of forfeiting. After collecting the details about the importer, and other necessary documents, forfeiter estimates risk involved in it and then quotes the discount rate.
The exporter then quotes a contract price to the overseas buyer by loading the discount rate and commitment fee on the sales price of the goods to be exported and sign a contract with the forfeiter. Export takes place against documents guaranteed by the importer’s bank and the exporter discounts the bill with the forfeiter and presents the same to the importer for payment on due date.