What are assignment of proceeds documents?
Author: Resources
Definition of "assignment of proceeds".

by Tekle Sebhatu

Question:

Hi, I was wondering if you could tell what an "assignment of proceeds" document is.

Answer:

Assignment is the transfer in writing of proceeds from one party to another party. For example, a beneficiary of a letter of credit may pledge the proceeds of future drawings to a third party. The documents used for this mechanism are referred as assignment of proceeds documents.

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Related Comments

what is the safest mode of payment
by SOUREMM on Fri Nov 17 17:26:24 PST 2006
Hello Sir , Which is the safest mode of payment that can be proposed to my Buyer . I have recieved many enquiries for food stuffs

Re: what is the safest mode of payment
by SOUREMM on Mon Feb 19 14:43:24 PST 2007
THE SAFEST MODE OF PAYMENT AS FAR AS THE EXPORTERS ARE CONCERNED , WILL BE TO RECIEVE CASH IN ADVANCE BY TELEGRAPHIC TRANSFER OR SENT THE DOCUMENTS THROUGH BANK OR MAKE THE BUYER OPEN AN IRREVOCABLE , CONFIRMED AND UNCONDITIONAL L/C AT SIGHT THROUGH ANY FIRST CLASS BANKS IN THE RESPECTIVE COUNTRY . THANKS

Re: Re: what is the safest mode of payment
by yarenimex on Wed Feb 21 10:13:30 PST 2007
Replying to [SOUREMM]:

What do you mean " irrevocable,confirmed and unconditional L/C at sight" ?

An L/C itself is a combination of various terms and conditions
relating to the definition of the goods,required documentation,dates,
transports of the goods and so on..

Yarenimex

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