Definition of Assignable:

  1. Banking: Letter of credit (L/C) whose beneficiary can assign its proceeds to a third party. Normally the assignability of a L/C is not dependent on the advising or issuing banks approval.

  2. Law: Power or property that can be transferred by one entity to another with its associated obligations and rights.

  3. Able to be allotted to someone or designated for a specific purpose.

Meaning of Assignable & Assignable Definition