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It means when you can't pay for something , you surrender it before it is repossessed.

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How can you discount letter of credit?

Discounting is an archaic term which now refers to the process of forfeiting or factoring the letter of credit


What is the process of forfeiting or factoring a letter of credit?

Forfeiting a letter of credit involves selling the future receivables secured by the letter to a financial institution at a discount, allowing the exporter to receive immediate cash. The bank pays the exporter upfront, taking on the risk of collecting the payment from the importer. This process typically occurs after the goods have been shipped and the letter of credit has been confirmed. Factoring may also involve selling receivables, but it usually pertains to a broader range of trade receivables rather than just letters of credit.


Can Series E savings bonds be redeemed on Treasury Direct?

Yes, Series E savings bonds can be redeemed through TreasuryDirect. However, they must be held for at least one year before redemption, and if cashed before five years, there is a penalty of forfeiting the last three months of interest. To redeem, you would log into your TreasuryDirect account and follow the instructions for redeeming savings bonds.


Nine ways to minimize the cost of credit?

I have good news! you can do it in 6 ways! here's how:1. Choose a reward credit card with the right reward program.2. Read and understand your Credit Card Agreement.3. Maximize the use of your reward credit card.4. Know which purchases earn you the most points. 5. Choose a reward credit card with no blackout dates.6. Avoid forfeiting the rewards you earned. (see related links for further explanation of each step )----


If you're moving to Asia can credit card companies come after you with your unpaid debt?

When in Asia credit companies would have a difficult time collecting on an account. However, if and when you come back to the U.S. you will have problems. * In addition the creditor can file a lawsuit and if they prevail will be granted a judgment which can be executed against property belonging to the debtor that is within U.S. jurisdiction such as a bank account. The act of leaving the country under such circumstances results in the debtor automatically forfeiting their legal rights for claiming exempt property or defending the lawsuit.

Related Questions

What is the minimum number of votes a candidate must have to avoid forfeiting his deposit?

He/She has to achieve minimum 3% of votes to avoid forfeiting his deposit.


Does forfeiting the right of way to other drivers prevent accidents?

In California, forfeiting the right of way to other drivers does not prevent accidents?


What is refuse to play in football?

I guess you mean forfeiting. A team can forfeit for different reasons. The forfeiting team is declared the loser of the game.


IS Forfeiting the right of way to other drivers does not prevent accidents?

True


What is suffix for forfeit?

Synonyms for forfeit:give upgive inthrow in the towelsurrenderpart withendsacrificerelinquishloserenounce


How much is the world worth?

In reality, it has no value if gaining it means forfeiting your soul. Just an opinion.


What is forfeiting and advantage?

Forfeiting an advantage is voluntarily giving up a favorable position or benefit that one possesses. This may be done to ensure fairness or uphold rules in a competitive situation. It involves intentionally relinquishing a perceived edge in order to maintain integrity or respect for the rules of a game or competition.


How many company using forfeiting fixed rate export finance for international trade transactions?

hi i am maulik


How can you discount letter of credit?

Discounting is an archaic term which now refers to the process of forfeiting or factoring the letter of credit


For whom are equity release schemes appropriate?

Equity release is like remortgaging your house. Many people will put up their house as collateral for obtaining a lump sum of money to use and then pay the money back or risk forfeiting ownership. Schemes would be something that tricks them into forfeiting and thus not appropriate for anyone.


Would you lose your rank and armor that you earned off line by forfeiting your credits on halo reach?

you would only lose your armor that is a higher rank then seargent.


what is the meaning of forfeiture?

The act of forfeiting; the loss of some right, privilege, estate, honor, office, or effects, by an offense, crime, breach of condition, or other act., That which is forfeited; a penalty; a fine or mulct.