Sources Forfaiting exporter receives cash at the time of shipment via third party. The exporter receives promissory notes and receives cash from a third party which buys them at a discount Factoring purchase of exporter's receivables at a discountSources: • Forfaiting: – exporter receives cash at the time of shipment via third party. The exporter receives promissory notes and receives cash from a third party which buys them at a discount. • Factoring: – purchase of exporter’s receivables at a discount