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The endorsement area is typically about 1.5” long and covers the breadth of the check. A restrictive endorsement limits the use of a financial instrument (usually a check). restrictive endorsement Primary tabs. Search for a definition or browse our legal glossaries. An endorsement signed on the back of a check, note, or bill of exchange that restricts to whom the paper may be transferred -- for example, "for transfer only to Frank Lowry." Restrictive endorsement is one which either by express words restricts or prohibits the further negotiation of a bill or which expresses that it is not a complete and unconditional transfer of the instrument but is a mere authority to the endorsee to deal with bill as directed by such endorsement. 11-3-206 (2010) 11-3-206. Restrictive endorsements may be contained in a letter or note that accompanies a check. Restrictive endorsements are made by signing at the reverse of the instrument by noting the limitations effected there in. Should an association receive a check with a restrictive endorsement, it essentially has two options: 1) reject the check and continue collecting on the amount due; or 2) cash the check and run the risk of being held to the terms of the endorsement. The result of a restrictive endorsement is that a financial instrument is no longer a negotiable instrument that can be passed from the stated payee to a third party. (Examples & Definition) Restrictive Endorsements via endorsement of a check. This seems to indicate that the credit union's name should be listed in the indorsement to meet the definition of a "restrictive indorsement" under the UCC. If you are a creditor, you now have more latitude in your ability to cash checks that are tendered for less than the amount owed. Most Popular Terms: restrictive endorsement — An endorsement on a bill of exchange that restricts the freedom of the endorsee to negotiate it … Big dictionary of business and management. Merriam-Webster, Incorporated. (n) Restrict endorsement is the restriction made in a financial instrument whereby its free transferability is restricted to a specific person noted in that endorsement. Also spelled "indorsement." Restrictive Endorsement restrictive endorsement see endorsement. Source: Merriam-Webster's Dictionary of Law ©1996. Published under license with Merriam-Webster, Incorporated. Simply using a memo, restrictive endorsement, or cover letter will not do the trick. The most secure way to endorse a check is to: Write: “For Deposit Only to Account Number XXXXXXXXXX” Sign your name below that, but still within the endorsement … Restrictive indorsement (a) An indorsement limiting payment to a particular person or otherwise prohibiting further transfer or negotiation of the instrument is not effective to prevent further transfer or negotiation of the instrument. UCC Codes. An endorsement signature on the back of a check that specifies the conditions under which the check can be transferred or paid out. § 11-3-206 - Restrictive indorsement O.C.G.A. For Deposit Only—Restrictive Endorsement. Restrictive endorsement. Safe Harbor - The creditor's protection from settlements. Restrictive Indorsement. The act of a payee or other holder of an instrument, such as a check, that consists of signing his or her name upon the back of the instrument in order to transfer it to another and wording the signature in such a manner as to bar the further negotiability of the instrument. Definition from Nolo’s Plain-English Law Dictionary. For example, the model UCC defines a restrictive indorsement as "an indorsement limiting payment to a particular person…" and bears a signature. A restrictive endorsement is a way of paying an account in a strategic way to improve your credit rating. restrictive endorsement — An endorsement that restricts the negotiability of a document. 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