Assignable,

Definition of Assignable:

1. Banking: Letter of credit (L/C) whose beneficiary can assign its proceeds to a third party. Normally the assignability of a L/C is not dependent on the advising or issuing banks approval.

2. Law: Power or property that can be transferred by one entity to another with its associated obligations and rights.

3. Able to be allotted to someone or designated for a specific purpose.