What is 'beneficiary' in SAP SD-FT - Foreign Trade?

beneficiary - Overview

• Component: SD-FT

• Component Name: Foreign Trade

• Description: The party to be paid under a letter of credit exporter.

beneficiary - Details

• 
  Key Concepts: 
  A beneficiary is a person or organization that receives a payment from an exporter or importer in a foreign trade transaction. In SAP SD-FT Foreign Trade, the beneficiary is the party to whom the payment is made. The beneficiary can be either an individual or a company. 
  
  How to use it: 
  In SAP SD-FT Foreign Trade, the beneficiary is entered in the payment document. The payment document contains information about the payment, such as the amount, currency, and payment method. The beneficiary can be selected from a list of existing beneficiaries or entered manually. 
  
  Tips & Tricks: 
  When entering a new beneficiary in SAP SD-FT Foreign Trade, make sure to enter all relevant information, such as name, address, and contact details. This will ensure that payments are made correctly and on time. 
  
  Related Information: 
  The beneficiary is related to other entities in SAP SD-FT Foreign Trade, such as the exporter and importer. It is important to ensure that all entities are correctly entered in order for payments to be made correctly and on time.