When does an exporter get paid and what is the price of forfaiting?
The exporter will get paid after the Letter of Credit has been accepted by the Issuing Bank and all documentary requirements of the buyer have been fulfilled.In usual cases that means about 3 – 4 weeks after shipment has taken place. The price will very much depend on the underlying bank and country risk, as well as on amount and lifetime. Please do check with us on a case by case basis.
