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The Global Network of Korea Eximbank.

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Trade Finance


Forfaiting is a trade finance facility whereby Korea Eximbank purchases from exporters, on a non-recourse basis, letters of credit issued by, or export bills guaranteed by, foreign banks on behalf of buyers. Lack of recourse means the Bank cannot hold the exporter liable even if the foreign bank fails to honor its letter of credit or guarantee; it thus frees the exporter from the risk of buyer default and lightens the liability side of its balance sheet.

Terms & Conditions

Terms & Conditions table
Content Details
  • Creditworthy companies with at least 1 year of experience producing or exporting the product or other similar product, or those that have a history of at least 1 transaction with the current buyer
Eligible Transaction
  • Export transactions based on irrevocable L/Cs issued or confirmed by foreign banks in countries above a certain credit score assigned by the Bank, or non-L/C based export transactions (including intermediary trade) backed by payment guarantees of foreign banks
  • USD, JPY, EUR, etc.
Eligible Amount
  • US$10,000 to US$50,000,000
Repayment Term
  • At least 30 days, less than 2 years
Discount Rate
  • Up to 1 year : LIBOR + spread
  • Up to 2 year : SWAP RATE + spread
  • Unsecured