Forfeiting financing service means the receivables are sold out to banks through us in the international market, and banks buy undue claims of the transactions of products, services and assets without recourse, normally these claims have been accepted, undertaken, certified by financial organizations. The claims accepted by forfeiting financing service includes letters of credit, drafts, promissory notes, claims of payment guarantee or credit guarantee, claims of export credit insurance and other acceptable claim instruments. This business is to buy out without recourse, and to sell out receivables through banks without recourse so as to make receivables safe in the accounts. Clients will transfer the country risk, buyer's credit risk, exchange rate risk, etc. to bank in order to avoid risks, and clients get 100% financing as well as convert the future receivables to current cash flow.
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