Glossary
Terms & Glossaries of Shipping and Trading
Assignment of Proceeds
Assignment of Proceeds is a stipulation within a letter of credit in which some or all of the proceeds are assigned from the original beneficiary to one or more additional beneficiaries.
Assignment of Proceeds is a stipulation within a letter of credit in which some or all of the proceeds are assigned from the original beneficiary to one or more additional beneficiaries. An assignment of proceeds occurs when a beneficiary transfers all or part of the proceeds from a letter of credit to a third-party beneficiary.
