What does A ski pass mean?

A forfait is a type of payment in which a payment commitment document is generated by a specific exporting agent and its assignment to a financial institution.

This type of payment tries to guarantee the export with respect to the payment of your sales, especially if you ship internationally. It is especially indicated and used by exporting companies, which try to ensure the amount through this payment and not a direct payment, in the face of the adversities of the destination.

These adversities may be due to the risk assumed when carrying out certain operations: the non-payment of the importer, the costs that may arise in the face of shipping or problems due to international exchange rates.

Features of lump sum payments

Regarding the features that identify this type of payment compared to others, we can highlight the following:

  • It is a payment method in which payment commitment documents are used, such as the bills of exchange o promissory notes.
  • It is a method used for commercial export and import operations that pose a risk to the agent (due to logistics, transport or exchange rate problems), especially between different countries with different political-economic regulations.
  • Credit institutions will assume different conditions depending on the nature from which the merchandise comes or the origin of the export. In addition, the level of risks due to defaults that may be caused is taken into account.
  • This payment method converts a payment transaction from long to short term, since the agent's collection rights are assumed as their own and the exporter feels freer

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