Who is the beneficiary?

In recent years, business and trade relations have been developing rapidly. This leads to the constant emergence of new terms that are used in the business sphere and imply the activities of different persons. So, recently, the word “beneficiary” has become increasingly common, and many certainly do not know what it means.

This term is often applied to persons who profit from the organization, but this interpretation is not entirely accurate. So what meaning can this word actually have? What rights are granted to the beneficiary and what are his / her responsibilities?

Who is called the beneficiary? Continue reading →