facility of payment clause

facility-of-payment clause.

1. Insurance. An insurance-policy provision allowing the appointment of a person to receive payment from the insurer on the beneficiary’s behalf. [Cases: Insurance 3468.]

2. Trusts. A trust provision that allows anyone who owes money to an incapacitated trust beneficiary to discharge the debt by paying the money owed to the custodial trustee.

---

词条贡献者

资深译员Betty，毕业于亚洲一流的高级翻译学院，专注翻译各种与商业移民有关的法律文件。