Who is the beneficiary when paying to a third party. Additional obligations of the beneficiary

Market relations are developing, new economic entities are emerging. And many of ordinary people It is not clear what the word BENEFICIARY means. Let's try to figure it out. There are several definitions for this concept. And if you plan to engage in foreign trade activities, you definitely need to understand the whole variety of new concepts.

Beneficiary

The beneficiary is allowed to be a legal entity and an individual. Their income is generated by performing specific transactions. They are also beneficiaries from transactions that are performed with their property while managing on a fiduciary basis. Interested parties, as they are also called, can hold bills of exchange, bank letters of credit.

What is a beneficiary? If a foreign trade activity is carried out, it is a company that acts as a seller. If trust operations are carried out, this is the person who benefits from the trust management of his property.

There is another definition explaining who the beneficiary is. You can become a beneficiary by inheritance if the person who was recorded in the insurance policy as a beneficiary died before the expiration of this contract. Translated from French, this word is translated as profit.

Beneficial owner

Under Russian law, the beneficial owner is the person who actually owns the entire company.

The beneficiary receives profit from the client's activities under an agency agreement or trust management.

The beneficial owner is an individual. He is the owner of the company directly or through other persons. Can control all client activities.

AT founding documents these persons may not appear, but they fully control the conduct of business. By law, the beneficial owner has a share in the capital of a legal entity of twenty-five percent or more.

The ultimate beneficiary is an individual who owns the beneficiary organization. It was at the opening of offshore companies that the hidden ultimate owners of profits appeared. Data about them is known only to the bank when opening an account and to the company's agent. The ultimate beneficiary may manage the bank account.

Read also: Checking account - what is it

Beneficiary and beneficiary

Is there anything similar and what is the difference between the beneficiary and the beneficiary? Both of them have income from the actions of the client. Difference. The ultimate owner has a share in the company, a quarter of it or more. And he can control the activities of this company and manage it. The beneficiary cannot do this. He doesn't even have his share.

It is the beneficiaries that are controlled by the state. There are certain conditions when the company is obliged to provide about them necessary information. This is necessary in order to identify criminal acts and prevent them. Also this information helps prevent financial fraud.

Beneficiaries and information about them

We have already said why information about these persons may be required. Recently, another point has been added, no less important than the above - the prevention of terrorist operations and the fight against terrorists.

Banking structures may also require the necessary information, and companies are required to provide them. And from banks, this information goes to Rosfinmonitoring. Banks cannot fail to do this, because otherwise they may be fined up to half a million rubles. This applies not only to banks, but to any financial institutions.

Some companies, in order to hide the data of the real owner, open an account for a person who has only the right to sign. The beneficiary person in this case is under constant control. It turns out that it is easy to identify the beneficiary, and more difficult - the real owner.

The data of the real owners is requested by both financial and other state institutions. For example, when public procurement contracts are concluded. In the document "Information on the chain of owners, including beneficiaries", all data of beneficiaries is recorded.

Rights and obligations

The rights of beneficiaries are protected by law. But they also have some obligations. The beneficiary can protect his property by a special trust management agreement. If the contract is violated, the ultimate owner and nominee are responsible for this.

Beneficiary identification

For the purposes of execution federal law dated August 7, 2001 No. 115-FZ "On counteracting the legalization (laundering) of proceeds from crime and the financing of terrorism" and Regulations of the Central Bank of the Russian Federation of August 19, 2004. No. 262-P “On the Identification of Clients and Beneficiaries by Credit Institutions for the Purpose of Counteracting the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism” The Bank is obliged to identify and identify the beneficiary, i.e. the person for whose benefit the Bank's Client acts.

In this regard, when carrying out banking operations in which you act in favor of third parties, we kindly ask you to submit to the Bank certified copies of documents (agreements, agreements, contracts, powers of attorney, letters, etc.) on the day of the transaction, indicating this.

The submitted documents must be duly certified (each sheet is certified with a seal and signatures according to the signature card or the entire document is stitched and certified on the last sheet).

If your beneficiary is:

Legal entity, it is necessary to fill information about the beneficiary - legal entity ;

Individual, then you must complete information about the beneficiary - an individual ;

Sole proprietor, must be completed information about the beneficiary - an individual entrepreneur.

For convenience, we present you examples of documents proving the existence of a beneficiary.

AGENCY CONTRACT

By agency agreement one party (agent) undertakes, for a fee, to perform legal and other actions on behalf of the other party (principal) on its own behalf, but at the expense of the principal, or on behalf and at the expense of the principal. The contract may or may not contain a reference to the person (another person) to whom these actions can be performed. The beneficiary in this case is Principal.

PRINCIPAL - a copy of the agreement is submitted;

AGENT - a copy of the contract is submitted, as well as the Questionnaire for the principal;

CONTRACT OF ORDER

Under an agency agreement, one party (the attorney) undertakes to perform certain tasks on behalf and at the expense of the other party (the principal). legal action. The contract may or may not contain a reference to the person (another person) to whom these actions can be performed. The beneficiary in this case is principal.

If under this agreement you are:

PRIVATE - a copy of the agreement is submitted;

ATTORNEY - a copy of the agreement is submitted, as well as the Questionnaire for the principal;

BY ANOTHER PERSON - a copy of the contract is submitted.

COMMISSION AGREEMENT

Under a commission agreement, one party (commission agent) undertakes, on behalf of the other party (principal), for a fee, to make one or more transactions on its own behalf, but at the expense of the principal. The contract may or may not contain a reference to the person (another person) with whom the transaction is made. The beneficiary in this situation is Principal.

If under this agreement you are:

COMMITTEE - submit a copy of the contract;

COMMISSIONER - a copy of the contract is submitted, as well as the Questionnaire for the committent;

BY ANOTHER PERSON - a copy of the contract is submitted.

If, when paying in a payment document, you pay for a third party, you must also submit to the Bank a duly certified copy of the agreement and a questionnaire for this person.

Good evening Julia. the beneficiary is one of the participants in the insurance relationship, acting on the side of the insured along with the insured person, is beneficiary

The beneficiary is one of key figures in insurance.

It is he who receives the money from the insurance company.

That is why it is so important to take care of his competent choice and timely appointment.

Who appoints the beneficiary?

In whose favor to sign an agreement with the insurer, the policyholder usually decides.

He signs the contract and pays for the insurance.

It is possible to appoint a beneficiary in personal insurance only if written consent the insured.

If there is no consent, the money will be paid to the insured or his heirs.

For example, if a wife wants to insure the life and health of her husband and appoint herself as the beneficiary in the event of his death, the husband must approve her decision in writing.

Otherwise, the contract will not be concluded.

The beneficiary in property insurance is obliged to provide a document confirming his interest in preserving the property, the owner or custodian of which he is.

Without such a document, the designated person will not be able to receive insurance compensation.

For example, a relative of the owner of the car, driving it by proxy, will not be able to receive insurance compensation if he insures the car in his favor.

The owner of the car will not be able to receive payment under this agreement, since the agreement was concluded in favor of the insured.

On the onset insured event the specified insurance contract will be declared invalid.

In some cases, the beneficiary is appointed by law and cannot be changed.

According to the law, the permanent beneficiary is:

• a person who has been harmed, injured (under civil liability insurance). For example, the owner of a car wrecked as a result of a traffic accident due to the fault of the insured, a hit pedestrian, a neighbor from the lower floor, whose apartment was flooded due to a burst pipe in the insured's apartment;
• a person who has suffered losses as a result of non-fulfillment by the insured of contractual obligations (in case of liability insurance under the contract). For example, the customer of a consignment of goods, if the insured is engaged in production or delivery;
• the policyholder himself (in case of business risk insurance), if he organized own business and insured it for a certain amount;
• owner or custodian of the pledge (when insuring pledged property). The owner of a mortgage apartment or a bank in whose safe there are, for example, securities accepted for storage as collateral.

That is, someone who is not interested in the occurrence of an insured event.

Important! Even if another beneficiary is specified in the contract, this will not be taken into account.
The beneficiary may not be specified in the contract

Then the insured person (in case of personal insurance) or the owner (in case of property insurance) has his rights under the law.

In the event of the death of the insured (or the owner of the property), the next of kin will receive the payment from the insurance company.

Not as beneficiaries, but as legal heirs - after entering into inheritance rights. If there is a will not in favor of relatives, the heirs appointed by the testator will receive the money.

Good afternoon. I was interested in your answer "Good evening Julia. The beneficiary is One of the participants in insurance relations, speaking at the article ..." to the question http://www.. Can I discuss this answer with you?

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The issues of protection of property rights to property were significant for mankind in any historical era and under a variety of socio-political formations. What is the most significant in these matters?

Some general provisions

In the definition and regulation of property relations, there are a number of fundamental concepts on which the entire current legislative framework and legal system is based. One of the most significant terms is such a concept as a beneficiary. This is a legal entity or a holder of ownership rights to a particular property and appropriately receiving income from such ownership. Or profiting from some operation of a commercial nature. In legislative and legal practice, there are a number of nuances, one way or another connected with this term. Let's try to consider some of them in more detail.

Who can be considered beneficiaries?

Sometimes in domestic legal practice such international equivalent of this term as "beneficiary" ("beneficiary"). In its meaning, it completely coincides with the concept of "beneficiary". This is nothing more than a synonym, historically dating back to Roman law. In Russian legal and economic practice, both terms are equally common. Who are usually considered beneficiaries? Most often, the beneficiary is a person who receives income in the form of his property transferred to trust management or for use by other persons or organizations. Relations with the beneficiary in this case, the users of his property occur on specially agreed conditions.

Beneficiary-insured

This term is also widely used in insurance. In the field of insurance business, the beneficiary is a natural or legal person who receives payments under the contract in accordance with the conditions specified in the insurance policy. This term is also very common in inheritance law. Here, the beneficiary is a person who receives certain property or financial rights in accordance with a will or current inheritance law. In addition, beneficiaries also include persons to whom banking structures provide various kinds of financial preferences.

Legislative regulation

The current legislation properly elaborates the rights and obligations that the beneficiary has, regardless of whether he is a legal or individual. Thus, in particular, according to the current Civil Code Russian Federation, beneficiary legal entity has the right to receive insurance payments in cases stipulated in the contract on insurance of his property, if such property has been damaged as a result of an insured event. The legislative framework in the field of financial obligations has now been worked out in sufficient detail, the rights and obligations of both parties to the insurance contract are spelled out in it in an exhaustive manner. Except Civil Code insurance relations are regulated by the Law of the Russian Federation dated November 27, 1992 "On organization in the Russian Federation".

Responsibilities and

Insurance of its tangible property and other types of property gives its owner confidence in receiving financial compensation in the agreed amount if the property is damaged as a result of exposure to natural factors or any aggressive criminal encroachments. But the insured beneficiary, in accordance with the procedure established by law, also bears a number of obligations to the insurer with whom he has concluded an appropriate contract. The first of these is the timely payment in full of the contributions specified in the contract, or as they are often called "insurance premiums".

Additional obligations of the beneficiary

In addition to the mandatory payment of insurance premiums, the insured-beneficiary has a number of obligations to the insurer, as they say, "second order". But that doesn't make them any less important. Execution of the contract in the event of an insured event without compliance with these obligations is not possible. First of all, they should include the provision to the insurer of the entire documentary base for the object of insurance in full. Timely informing such of all changes that have occurred and any relevant circumstances. And most importantly, the insurer must be informed of the occurrence of an insured event within the time period specified in the insurance contract. Of course, the beneficiary is obliged to fulfill this clause in the situation if he intends to exercise his right to receive the financial compensation due to him as a result of the occurrence of an insured event.

What makes an insurer pay?

Upon the occurrence of an insured event, the insurer is obliged to fulfill, in accordance with the terms of the contract concluded by him, all the financial obligations assumed to the owner of the affected property. These payments in certain cases can be more than significant. There are frequent cases when, in order to fulfill its insurance obligations, the insurer has to resort to external financial loans on burdensome conditions for him. What makes him do it? The point here is that insurance is, as they say, "a long game" and "running a long distance." And only those who are able to build a strategy for the development of their business in the long term can win here. An insurer that consistently fulfills its financial obligations acquires a reputation. And consequently, the client base, which will certainly be covered for a certain period of time by all the expenses incurred by him to fulfill his financial obligations.

Some general thoughts

The history of the insurance business goes back several centuries. Appearing for the first time in Great Britain during the formation of industrial capitalism and the rapid development of world trade, this area has steadily grown and improved up to the present day. What is the attractiveness for all who are the beneficiaries of concluding agreements on insurance of their tangible property and other assets? After all, according to the concluded agreement, the beneficiaries have to assume quite significant financial obligations. The point here, perhaps, is that it is vital for property owners to have a sense of confidence in the achieved material results. They are driven by a desire for stability and confidence in the future. And the beneficiaries are willing to pay for it. It is this circumstance that makes them turn to insurers. No one else can sell them the necessary sense of confidence and stability. Both parties are equally interested in this deal. It should be noted that successful development insurance business is possible only in a state with a steadily developing economy and a stable legal system.