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Discounting of the client's receivables due in the future by the bank.

Forfaiting is intended for:

  • entrepreneurs
  • natural persons and corporate  entities
  • clients authorised to do business in the Czech Republic
  • clients who actively do business
  • clients with a tax liability in the Czech Republic
  • clients who can be loan recipients pursuant to the pertinent legal regulations
  • clients who supply their goods, services or construction work with deferred payment

Characteristics of Forfaiting:

  • assignment to KB for consideration of a client's receivables due in the future, which were created in the framework of commercial transactions
  • purchase of receivables without recourse to the original owner (usually the supplier)
  • can be implemented in two ways:
    • at the risk of the banking entity
      • bill of exchange or promissory note, with the aval of the bank
      • documentary letter of credit
    • at the risk of the commercial entity (debtor – customer)
      • invoice
      • bill of exchange without the aval of the bank
  • the following receivables are discounted:
    • short-term
    • medium-term
    • long-term (depending on the level of risk assumed and the nature of the receivable)
  • minimum maturity: 45 days
  • lower value limit of receivables discounted: approx. CZK 1 million, or the equivalent of this amount in foreign currency
  • the price for discounting is set individually and especially depends on the following:
    • the financial standing of the debtor
    • the value, maturity and nature of the receivable
    • all fees are usually deducted from the amount paid at the moment the receivables are purchased

The functioning of Forfaiting can be seen on the following diagram.

Example of purchase of receivables under a documentary letter of credit

Example of purchase of receivables under a documentary letter of credit

1 – Contract
2 – Request for issue of a documentary letter of credit
3 – Letter of credit
4 – Delivery of goods or services
5 – Presentation of letter of credit documents
6 – Acceptance of letter of credit documents
7 – Conclusion of a contract on assignment of debts
8 – Payment
9 – Settlement of receivable

Advantages of Forfaiting:

  • acquisition of funds immediately after delivery
  • decrease in the volume of receivables in the balance sheet
  • improvement of financial indicators
  • a flexible form of financing, which does not increase the loan liability of the supplier with Komerční banka
  • increase in competiveness when winning orders (offer of deferred maturity)
  • possibility of preparing Forfaiting already in the pre-contracting phase and including its costs in the price of the delivery

Forfaiting allows you to:

  • supply goods with deferred payment
  • gain funds immediately after delivery

How to get Forfaiting?

  • contact your relationship manager
  • call the regional Global Transaction Payment System specialists – contacts can be found on the map below
  • call the toll-free KB Info line on 800 521 521


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