Forfaiting is a new financing tool used in international deferred payment trade.

福费廷是为国际延期付款贸易服务的一种新型融资工具.

It points out the advantages and disadvantages of three guarantee forms widely used in forfaiting, i. e. aval , demand guarantee and standby letter of credit.

本章指出了背书担保、独立保函和备用信用证这三种福费廷业务中常用的担保方式各自的优点和不足。