Home > Term: account payee only
account payee only
Words added to the crossing on a check to ensure that check is paid only into the account of the entity to whom the check is made out. This step makes a check a non-negotiable instrument, and provides protection against its fraudulent conversion. The words 'not negotiable' have the same effect.
- Part of Speech: noun
- Industry/Domain: Accounting
- Category: General accounting
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Creator
- anton.chausovskyy
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