Beneficiary

Question

What is the meaning of BENEFICIARY?

Accepted Answer

Seller firm, drawer (exporter) in whose favour the credit is opened (issued). The beneficiary cashes compensation of material he exported, against for the documents he submits in accordance with letter of credit terms.

Answer

given right in favour of; a person who collects cost of bill in bill of exchange.

Answer

A beneficiary (also, in trust law, referred to as the cestui que use) in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor.