Assignment of proceeds

Assignment of proceeds

Arrangement that allows the original beneficiary of a letter of credit to pledge or turn over proceeds to another, typically end supplier.
References in periodicals archive ?
Despite having an assignment of proceeds, payments are sometimes made directly to subcontractors, without Banks previous knowledge and approval.
Despite having an assignment of proceeds, payments are sometimes made directly to subcontractors, without the bank's previous knowledge and approval, according to Seetharaman.
The facility is offered to applicants subject to providing an assignment of proceeds from the insurance companies
The prime collateral is the assignment of proceeds to the lender of the financed export trade transactions.
An assignment of proceeds should not be confused with a transferable credit despite this apparent initial similarity.
The facility is offered to those which have service agreements with one or more insurance company against assignment of proceeds to UNB.
If the parent needs Medicaid at a time when the family still owns the home, the Department of Social Services will require an assignment of proceeds to be executed and recorded.