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