assignment of proceeds

Englisch - Türkisch

Definition von assignment of proceeds im Englisch Türkisch wörterbuch

(Ticaret) alacakların devri

Englisch - Englisch

Definition von assignment of proceeds im Englisch Englisch wörterbuch

order transferring the right to compensation from an insurance company

An acknowledgement by a paying/negotiating bank issued at the request of the beneficiary of the credit to pay a third party for services rendered or goods sold under a separate contract It conveys no engagement on the part of the bank making such an acknowledgement and payment is only made if and when funds have become available under the credit

Request by a beneficiary to assign the proceeds of any draft honored under a letter of credit to a third party

Legal mechanism by which the beneficiary of a letter of credit may pledge the proceeds of future drawings to a third party Assigning proceeds involves giving the letter of credit to a bank, which will hold the L/C until drawn upon, along with irrevocable instructions to the bank to disburse proceeds, when generated, in a specified way, e g , "pay 75% of each drawing to XYZ Company " The bank will acknowledge the assignment to the assignee but has no obligation actually to pay any funds to the assignee unless the L/C is drawn upon by the beneficiary and payment is received from the issuing or confirming bank An assignment of proceeds is not an assignment or transfer of the letter of credit and the assignee acquires no rights to perform under the L/C in order to generate funds

The beneficiary of a letter of credit may instruct the negotiating bank, in writing, to pay all or a portion of the proceeds due them to a third party The request to assign the proceeds should be accompanied by the original letter of credit and the fee that the negotiating bank may charge for this service

Silbentrennung

as·sign·ment of pro·ceeds

Türkische aussprache

ısaynmınt ıv prōsidz

Aussprache

/əˈsīnmənt əv prōˈsēdz/ /əˈsaɪnmənt əv proʊˈsiːdz/