restrictive endorsement definition

restrictive endorsement

Endorsement which limits further negotiability of a negotiable instrument. For example, the words 'accounts payee Only' on the face (in the UK) or 'For deposit only' on the back (in the US) of a check block its cashing over the counter and (generally) endorsement to another party. Also called endorsement limiting further endorsement.

restrictive endorsement is in the Banking, Commerce & Finance and International Trade & Relations subjects.

restrictive endorsement appears in the definition of the following term: endorsement prohibiting further endorsement

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