A restrictive endorsement is a notation added to the back of a negotiable instrument, such as a check or promissory note, that limits the further negotiation or transfer of the instrument. This type of endorsement typically includes specific instructions or conditions regarding how the instrument may be used or negotiated. For example, a restrictive endorsement may specify that the instrument is only payable to a particular person or for a specific purpose. By endorsing a negotiable instrument restrictively, the endorser seeks to ensure that it can only be used or negotiated in accordance with the specified conditions, thereby providing additional control and security over the instrument.
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This glossary post was last updated: 29th March, 2024.
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