Assignment Of Contract Proceeds

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DEFINITION of 'Assignment Of Proceeds'

Assignment of proceeds occurs when a document transfers all or part of the proceeds from a letter of credit to a third party beneficiary. A letter of credit is often used to guarantee payment of a loan or other obligation. The person who is entitled to receive those proceeds can choose to have them delivered to a third party - this is an assignment of proceeds. To receive an assignment of proceeds, the original beneficiary of the letter of credit will need to submit a request to the bank or other entity issuing the letter of credit asking to assign the funds to a different person or company.

BREAKING DOWN 'Assignment Of Proceeds'

The assignment of proceeds will need to be approved once it is submitted. Once approved, the bank or other entity will release the money to the specified party, pending fulfillment of any requirements set forth in the letter of credit. However, if the principal party does not meet the obligations outlined in the letter of credit, no assignment will take place. Samples of assignment of proceeds letters can be found on the internet. Assigning the proceeds from a letter of credit can be utilized in many types of scenarios, such as to pay suppliers or vendors in a business transaction or settle other debts.

Arab Law Quarterly

Description: Economic and commercial developments in Arab countries continue to attract attention. Courts in the non-Islamic world increasingly need to decide issues involving Arab laws and Islamic law generally. This interest in Arab countries, not only internally but externally as well, enhances the need for a topical journal on Arab law.

The leading English-language legal publication in its field, Arab Law Quarterly covers all aspects of Arab laws, both Shari'a and secular. It provides authoritative articles on the laws and legal developments throughout the twenty countries of the Arab world, notes on recent legislation and case law, guidelines on future changes, and reviews of the latest literature in the field.

Coverage: 1985-2012 (Vol. 1, No. 1 - Vol. 26, No. 4)

Moving Wall: 5 years (What is the moving wall?)

The "moving wall" represents the time period between the last issue available in JSTOR and the most recently published issue of a journal. Moving walls are generally represented in years. In rare instances, a publisher has elected to have a "zero" moving wall, so their current issues are available in JSTOR shortly after publication.
Note: In calculating the moving wall, the current year is not counted.
For example, if the current year is 2008 and a journal has a 5 year moving wall, articles from the year 2002 are available.

Terms Related to the Moving Wall
Fixed walls: Journals with no new volumes being added to the archive.
Absorbed: Journals that are combined with another title.
Complete: Journals that are no longer published or that have been combined with another title.

ISSN: 02680556

Subjects: Law, Middle East Studies, Area Studies, Law

Collections: Arts & Sciences IV Collection, JSTOR Essential Collection

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