The forfaiting is a transaction involving the sale of one of the firm's transactions.

Forfaiting enables exporters to convert a credit sale into a cash sale.

In 2003, FIMBank acquired full control of UK registered London Forfaiting Company Ltd.

Disposals such as Woodchester, London Forfaiting, the three Gartmore trusts, and two divisions of Atlantic Computers should raise another £225million, Mr Gunn said yesterday.

It is different from forfaiting in the sense that forfaiting is a transaction-based operation involving exporters in which the firm sells one of its transactions, while factoring is a Financial Transaction that involves the Sale of any portion of the firm's Receivables.