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Assignment of proceeds template

Assignment of funds form 2026

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The document is a formal authorization letter addressed to The Toronto-Dominion Bank, instructing them to pay a designated payee from the proceeds of drafts drawn under a specified Letter of Credit. It outlines the terms of payment, confirms that the authorization is irrevocable, and includes a request for the bank to notify the designated payee of this acceptance.

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Click ‘Get Form’ to open the assignment of funds form in our editor.
Begin by entering the Letter of Credit number and the issuing bank's name at the top of the form.
In the section where you authorize payment, select either a percentage of the draft's face amount or specify a maximum dollar amount. Clearly write this amount in both numeric and word format.
Fill in the name and address of the Designated Payee who will receive the specified funds.
Sign and date the form where indicated, ensuring that your signature is guaranteed by an authorized bank representative.
Finally, attach any required documents, such as your cheque for commission, before submitting it through our platform.

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