creditor beneficiary

Definition of "creditor beneficiary"
  1. Someone who is meant to benefit directly from the payment made by one party to fulfill a debt or obligation
How to use "creditor beneficiary" in a sentence
  1. The company was identified as the creditor beneficiary when another firm settled their outstanding funds to clear their debt.
  2. In the contract, it was established that the debt would be paid off to a third party, thereby making them the creditor beneficiary.
  3. When the debtor opted to pay directly to the creditor beneficiary, they effectively fulfilled their outstanding obligation.

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