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order instrument
Paper which can be transferred by endorsement (negotiable). Legal order instruments (cheques, drafts, bills of exchange, registered shares) are always order instruments, even if they do not bear the «to the order of» notation. Bills of lading, bill-like orders, etc. become negotiable only with such a notation.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Banking
- Category: Investment banking
- Company: UBS
- Product:
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