What is the beneficiary?
What is a beneficiary, or rather, who is it? The beneficiary is the beneficiary, in other words, a natural or legal person that receives any benefit. This can be a cash payment, a profit from transactions, the receipt of assets or any other income.
The word beneficiary is derived from the Frenchbenefice, which in translation means "profit", "profit". Perhaps the presence of Latin roots in the birth of this expression, so, in Latin, beneficium sounds like "good deed."
Examples of the use of the word "beneficiary"
The word can be heard as applied:
- To a person receiving income from the surrender of hisproperty for rent. The beneficiary, having transferred the trust management of his real estate, shares, stakes in the authorized capital of the firm, copyright or intellectual rights, trademarks and art objects to third parties, derives profits from this.
- To the direct beneficiary of the payment. For example, when performing banking operations: when the bank opens a documentary letter of credit, within the framework of collection or bank certificate.
- To who gets the benefit of insurance. The beneficiary is a person specified in the insurance agreement as a beneficiary, that is, the recipient of insurance payments.
To get acquainted with the meanings of other words, cognitive articles from the section of our Definitions resource will help you.
