International Payments
What is an assignment of proceeds under a letter of credit?
An assignment of proceeds under a letter of credit is the allocation of a portion of the payment available under a letter of credit to a party other than the letter of credit beneficiary. The assignment is typically arranged by the letter of credit beneficiary through the advising/confirming bank, as appropriate. The party to which the assignment is made (assignee) is assured of payment under the letter of credit if and when the letter of credit is successfully negotiated. The assignee does not, however, receive any rights or protection under the letter of credit.
More FAQs...
[Back to top]
Firm |
Practice Areas |
Important Developments |
Client Resources |
Search |
Home
Client Access
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.
Copyright © by Gatti
& Associates Attorneys at Law. All rights reserved. You may reproduce
materials available at this site for your own personal use and for non-commercial
distribution. All copies must include this copyright statement.
|
|
This FirmSite® is designed and hosted by FindLaw®, a service of West Group, Eagan, Minnesota.
|
|
