The value of the forfaiting market is estimated at more than 300 billion USD annually. ICC’s URF now provide a standard set of rules that reflect a broad consensus among bankers, users and all members of the forfaiting community worldwide.
The use of global rules and standards helps avoid misunderstandings, harmonizes best practice around the globe and facilitates dispute settlement. Clear definitions and practical model agreements, also included in this edition, will help further understand and efficiently apply the present rules.
ICC Uniform Rules for Forfaiting (URF) cover controversial subjects and clarify complex issues such as:
• Forfaiting agreements and conditions in the primary market
• Forfaiting confirmations and conditions in the secondary market
• Payments and payments under reserve
• And more
Created by experts for experts, ICC URF is a must-have for anyone involved in
international trade finance transactions.