b. Broker is not necessarily a party to a forfaiting transaction.
Forfaiting is a financing technique used in international trade to mitigate the risk of non-payment by the importer. It involves the exporter selling its rights to receive payment from the importer to a forfaiting institution (usually a bank or a financial institution) at a discount in exchange for cash payment.
The parties involved in a forfaiting transaction typically include the exporter, the importer, and the forfaiting institution. The broker may be involved in facilitating the transaction, but it is not a necessary party to the transaction.