Deed of assignment

Deed of assignment,

Definition of Deed of assignment:

  1. Agreement under which some or all assets of an insolvent debtor are assigned to a trustee, for selling them and distributing the sale proceeds equitably among the creditors.

  2. Assignment of a part of the proceeds of a letter of credit by its beneficiary (usually an exporter or seller) to the manufacturer or producer (of the goods being exported or sold) as a guaranty of payment for those goods. Also called letter of assignment.

Meaning of Deed of assignment & Deed of assignment Definition