Concept in Definition ABC

The verb endosar comes from the French term endosser and in turn from the Latin indorsare, which means behind or on the back of. In this way, to endorse is to place something on another person.

The term that concerns us has two different meanings. To endorse means to give or give something to another person, being that which is given something normally unpleasant in some sense. Thus, if someone says "I endorsed the turtles to my neighbor before I went on vacation" they are indicating that she has stopped taking care of the turtles, which is responsibility It involves a certain work and a burden. The person to whom an activity is endorsed assumes a responsibility that is not, in principle, desirable.

The second meaning of the term has a dimension inexpensive and worth explaining its meaning in some detail.

Endorse a bank check

An endorsement is a signature on the back of a check. The purpose of signing the check is to indicate that the person signing is the holder of the check. Thus, there are two protagonists in this action: the endorser is the one who transmits the bank title (the check), while the recipient is the endorsee and becomes the new owner of the check. Keep in mind that the only checks that can be endorsed are bearer checks or checks made to the order or nominative (those in which the beneficiary appears who is authorized to collect it).

The purpose of the endorsement of a bank check is very specific: that the recipient of the check has all the rights to the check. This means that the endorsee can cash the check at the bank, deposit it in an account or endorse it to a different person. Consequently, on the back of the check it is possible to establish a chain of endorsements, but for this succession to be valid it must be clearly specified.

Which are the requirements?

The necessary requirements for its correct operation are the following: the signature and the stamp with enough space for other endorsements, the maintenance of a logical order in the chain of endorsements and not incorporate erasures that could confuse a correct interpretation of document. Failure to meet these requirements is considered an incomplete endorsement.

While endorsing a bank check is a practice financial very common, experts in safety banking recommends being cautious when using checks, as there are a number of possible frauds (checks valid that are endorsed and then collected by someone other than the beneficiary, as well as other procedures fraudulent through forgery of the signature or alteration of the check)