- The holder of an instrument. American Banker Glossary————also bearer form Euroclear Clearing and Settlement glossaryThe owner is not registered in the books of the issuer or of the registrar. Euroclear Clearing and Settlement glossary
* * *bearer bear‧er [ˈbeərə ǁ ˈberər] noun [countable] FINANCE1. someone who owns or possesses a document such as a bond, cheque, or a bill of exchange:
• The firm became suspicious about the bonds and asked the bearer for confirmation.2. FINANCE payable to bearer words written on a document to say that the amount of money stated on the document should be paid to the person who has it in their possession, rather than to a named person:
• I took a check marked `payable to bearer' to a bank to cash.3. FINANCE bearer bond/cheque/share etc a bond, cheque, share etc that is considered to be owned by or payable to the person who has it in their possession, even though their name may not appear on it or may not be on the official list of owners
* * *bearer UK US /ˈbeərər/ noun [C] BANKING, FINANCE► someone who has in their possession a document, such as a bond or share, which they can legally exchange for a sum of money: »
Letters of credit are documents issued by banks which give the bearer the authority to draw a stated sum of money on the bank or its agencies.»
The bonds promised to repay the bearer the full amount, plus 25% in 20 years' time.»
The bonds are normally in bearer form, which means the physical holder of the certificate is deemed to be the owner.
Financial and business terms. 2012.