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Without Recourse Financing |
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Without Recourse Financing Financing in which the right of recourse to the party receiving funds is forfeited to the party advancing funds. This may be evidenced by conditions added to the endorsement of a draft being sold by an exporter in order to protect the exporter, if the instrument is not paid at maturity by the original obligor. Without Recourse Financing A loan secured by the revenue of the project the loan intends to fund, and nothing else. That is, without recourse financing does not allow the bank or other lending institution access to the borrower's other assets in the event of default. This is a relatively high-risk form of financing; projects that utilize without recourse financing generally have uncertain revenue streams and long loan periods. It is more commonly known as non-recourse finance. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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