Guide to Forfaiting

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9781855645882: Guide to Forfaiting
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An invaluable guide for all exporters, trade financiers and investors, which offers new insights into this little understood technique. This book explains the basic techniques of forfaiting and provides transaction examples to show you how it works in practice. Forfaiting also includes case studies, discount tables and a comprehensive glossary.

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About the Author:

Margrith Ltschg-Emmenegger has worked in forfaiting for most of her professional life, first with Barclays Bank, and then with Midland Bank Aval in London before joining WestMerchant Bank. She is the managing director responsible for forfaiting and trade finance in WestMerchant Bank worldwide, as well as having global responsibility for forfaiting within the WestLB Group. Mrs Ltschg-Emmenegger was educated in Switzerland and was a member of the board of the Swiss Association of Forfaiters in 1983, and was founding Chairman of the Association of Forfaiters in the Americas in 1995. She has written numerous articles on forfaiting and has been a regular speaker on the subject for many years.

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Preface

Forfaiters are increasingly using more imaginative and sophisticated techniques to overcome problems posed by changing markets and requirements of importers and exporters. It is changing requirements, rather than the conscious decision by forfaiting houses to abandon traditional practices, that have led to the changes outlined in this book. The challenge to invent new solutions is met almost daily by trade financiers who need to keep pace with market developments.

The book covers the technical aspects of forfaiting in some detail. To accommodate both experienced forfaiters, and those looking for a clear explanation of how traditional forfaiting transactions are done, I have split the book into two parts. The first section covers traditional approaches and the basics of forfaiting. This section is addressed to new users and addresses in detail documentation procedures, legal aspects and the various calculations and formulas used in more straightforward forfaiting transactions.

The second part of this book looks at more advanced techniques and recent market developments which will help new users and experienced forfaiters alike see how expandable the basics have become. For experienced practitioners who may ask 'why another book on forfaiting?', I hope the second part of the book will provide an insight into the cutting edge of the market.

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