"Protest"

Legal procedure that may be administered by a notary public, evidencing non-payment or non-acceptance of a bill of exchange. Useful in support of a subsequent civil action against the defaulter.
In a collection, the presenting bank may be instructed to arrange for this.

Depository glossary and terms by letter

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0

Was this page helpful? Yes: 0 No: 0 6