Beneficiary
Normally beneficiary is the seller or exporter in whose favour the documentary credit has been established.
Beneficiary is the party who will receive payment under a financial guarantee if certain events occur, such as default on a loan.
Beneficiary means one or more persons or organizations that the policyholder designates to receive the cash payment on a life insurance policy.
Webster Dictionary Meaning
1. Beneficiary
- Holding some office or valuable possession, in
subordination to another; holding under a feudal or other superior;
having a dependent and secondary possession.- Bestowed as a gratuity; as, beneficiary gifts.
2. Beneficiary
- A feudatory or vassal; hence, one who holds a benefice
and uses its proceeds.- One who receives anything as a gift; one who receives a benefit or advantage; esp. one who receives help or income from an educational fund or a trust estate.
Category: Banking & Finance
Previous: ← Basis Points
More from this Section
- Capacity
Definition of Capacity: Capacity is the ability to accumulate a certain amount of something ... - Back office
Brokerage house clerical operations that support, but do not include, the trading of stocks ... - Bear hug
Bear hug often used in risk arbitrage. Hostile takeover attempt in which the acquirer ... - Equipment breakdown insurance
Equipment breakdown insurance is an insurance that covers losses due to accidental breakdown ... - Primary insurance amount (PIA)
Primary insurance amount (PIA) refers monthly cash benefit paid to a retired worker at ...