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Vol 21 No 9 Sept/Oct 2016

Book of the Month

Cover of Goode on Commercial Law

Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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ICC Uniform Rules for Forfaiting: Including Model Agreements (URF 800)

ISBN13: 9789284201846
Published: January 2013
Publisher: International Chamber of Commerce
Country of Publication: UK
Format: Paperback
Price: £25.00 - Unavailable at Publisher

Forfaiting is a technique used for financing international trade of great flexibility and capable of creative application. It can be used with an almost unlimited number of instruments such as traditional letters of credit, promissory notes and bills of exchange as well as with newer forms and structures.

The Uniform Rules for Forfaiting sets out for the first time a set of rules to govern and assist this important sector of trade finance. The URF covers both the primary market, in which deals are originated from exporters and other sellers, and the secondary market in which these transactions can be traded between banks and other suppliers of finance thus supplying a deep source of liquidity. Important issues covered include: how sales are concluded, the nature of satisfactory documentation and recourse to sellers.

To assist practitioners in applying the URF a non-binding set of model forms is included.