A B C D E F G H I J K L M N O P Q R S T U V W Y Z

Beneficiary

  1. In letter of credit context, generally the exporter-seller; the one on whose behalf the letter of credit is opened by the applicant (the importer-buyer) the party to whom the L/C is opened, generally the exporter-seller.
  2. In a guarantee/bond context, the one who will receive payment under bond should the specified documents or contingencies be produced.
  3. In payments systems, a party to whom funds are allocated through the crediting of an account.

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