Assignment of proceeds

Assignment Of Proceeds
Assignment Of Proceeds definition :
Arrangement that allows the original beneficiary of a letter of credit to pledge or turn over proceeds to another, typically end supplier.
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ASSIGNMENT OF PROCEEDS - Arrangement that allows the original beneficiary of a letter of credit to pled...
ASSIGNMENT OF RENTS - a legal document that assigns all rents and income from a property to the mortgag...

Assignment of Proceeds

The assignment (transfer) by the exporter to their right to part or all of the proceeds of a Letter of Credit to a third party (usually the supplier of the goods).

Assignment of Proceeds of a Letter Of Credit
If the bank agrees, the beneficiary assigns all or part of the proceeds to be paid to another party after the required documents have been presented.
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The receipt of an exercise notice by an options writer that requires the writer to sell (in the case of a call) or purchase (in the case of a put) the underlying security at the specified strike price.
Assignment of proceeds ...

See also: Letter of credit, Banks, Issuing bank, Bills, Absorption