GLOSSARY

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.

What is 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. 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.

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