When it comes to banking matters，for an exporter with different types of international settlements，forfaiting can be used mainly in two ways in transaction: one is under documentary credits and the other is under documents against acceptance with Aval. According to UCP600 article 2，both the "irrevocable" and the "independent" characteristics of a documentary credit stated in UCP600，make forfaiting under documentary credits favored by the exporter.

In the case of an exporter's complying presentation and receipt of an acceptance message，the issuing bank has an irrevocable liability to the beneficiary. Therefore，the beneficiary can still get the issuing bank’s reimbursement even if the applicant is in a bankruptcy or default situation. Consequently，regardless of 100% pledge or credit for the importer's application of issuing a documentary credit，forfaiting under documentary credits in many banks is considered as a low-risk trade finance product. Benefiting from convenience and low cost，forfaiting has been applied widely in recent years.

As a low-risk trade finance product，forfaiting under a documentary credit takes the following as a premise. First is the beneficiary’s complying presentation and second is the acceptance message sent by the issuing bank. When sending the acceptance message through the SWIFT system，the message between two institutions with an authorized relationship normally starts with a 7. It might look like MT799，MT756，MT752，or MT754，for example. Because some issuing banks may not have established an authorized relationship with the advising bank in another country，the acceptance message sent by the issuing bank is consequently uses the MT999 format. In this case，is it possible to do forfaiting on behalf of the exporter and if so，how to do it? What kinds of risk would the forfaiter be confronted with?

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