Beneficiary. A party that receives some benefit or advantage or profits from something.
In the context of lending it is the party in whose favor a Letter of Credit is issued, who is entitled to present documents required by the letter of credit and receive payment.
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.