Rules & Standards check0 / 1 answered · 0 correct
Check 1
Does every sale of an invoice automatically become a URF 800 forfaiting transaction?
URF 800 — Uniform Rules for Forfaiting
The ICC/IFA rule framework for forfaiting transactions.
Forfaiting framework
URF 800 provides standard rules for forfaiting agreements and confirmations in primary and secondary markets.
Reviewed: September 2026Standards and bank policy can change.How MyGreed classifies proceduresOfficial-source directory
Without recourse
Forfaiting is commonly associated with purchase of payment obligations without recourse, subject to the actual agreement and URF provisions.
Documents and conditions
The rules address satisfactory documents, conditions, payments and liabilities.
Use in context
Not every discounting transaction is automatically forfaiting or governed by URF. The agreement must identify the applicable framework.
Standards / source note: ICC and the International Forfaiting Association developed URF 800; the rules have been effective since 1 January 2013.
Remember this“Discounting” and “forfaiting” overlap economically but are not automatically the same legal product.
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