An assignment is an arrangement under an L/C in terms of which the payee assigns or transfers 

part of the L/C amount to a third party.

 

Assignment to one or several third parties in a contract is possible. An assignment can be made directly when opening the contract in Import LC's.

 

To create an assignment, only the party and the amount for the assignment need to be recorded in the Assignment of proceeds panel. 

 

The assignment amount can be captured in the Amount column. The application uses this to automatically compute the percentage share of the assignment. Alternatively, a percentage may be entered and the application will then compute the percentage of the assignment amount.