Forfeit

From Open Risk Manual
Revision as of 23:03, 10 February 2020 by Wiki admin (talk | contribs) (Initial Entry)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)

Definition

Forfeit. (or Forfait) It is the purchase of negotiable instruments, most often avalized drafts, without recourse. The forfeiter assumes the credit risk of being able to collect payment when due.

Retrieved from "https://www.openriskmanual.org/wiki/index.php?title=Forfeit&oldid=13156"
  • Creative Commons Attribution-NonCommercial-ShareAlike
  • Powered by MediaWiki
  • Powered by Semantic MediaWiki