Jargon beginning with: f

Face Value: A term used in Forfaiting to mean the total value of future cash flows due under a payment instrument such as a Bill of Exchange or Promissory Note. Usually means the total of principal and interest.

Factoring: Advancing funds against future short term trade receivables, usually With Recourse. Can differ from simple Invoice Discounting because of additional services, such as sales ledger management which the factor company may provide.

FAS: Free Alongside Ship. A delivery term under which the seller provides his goods alongside a named vessel at a named port. Refer to 'Incoterms' for standard definition.

FASB: Financial Accounting Standards Board A private sector organisation based in the USA whose purpose is to establish financial accounting and reporting standards.

FATCA: Foreign Account Tax Compliance Act - a piece US legislation enacted in 2009, which imposes a detailed set of reporting and withholding requirements on foreign financial services firms who have dealings with US nationals. It is due to take effect in January 2013.

FDIC: Federal Deposit Insurance Corporation - it's purpose is, it says, "to preserve and promote public confidence in the U.S. financial system by insuring depositors for at least $250,000 per insured bank; by identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails."

Financial Stability Board: The Financial Stability Board (FSB), the super regulator coordinating the work of national and international financial regulators and standard setting bodies.

FOR: Free On Rail. A delivery term under which the seller delivers his goods to a railway authority at a named place. Refer to 'Incoterms' for standard definition.

Force Majeure: A legal term meaning beyond the control of the parties (to a commercial contract).

Forward Cover: To buy or sell a foreign currency in advance of its receipt or payment. Usually used to control foreign currency risk.

Forwarding Agent: A firm which organises and arranges for the carriage of goods.

FOT: Free On Truck. A delivery term similar in meaning to F.O.R. Refer to 'Incoterms' for standard definition.

FRA: Forward Rate Agreement.

FRN: Floating Rate Note.

Front End Fee: A fee paid to bankers for setting up a transaction, usually payable before or shortly after funds are drawn.

FSB: The Financial Stability Board

FTSE: Financial Times Stock Exchange, the name of several London Stock Market equity indices such as the FTSE 100, FTSE 250 etc.

FUll Set: A term often used in the context of documents to be presented under a Letter of Credit. A Full Set of Clean On Board Bills of Lading, means all of the originals Issued.