- endorsement
- A written statement on a document, usually on the back of the document, in which the owner assigns his rights to an individual or entity named in the endorsement. American Banker Glossary
* * *
endorsement en‧dorse‧ment [ɪnˈdɔːsmənt ǁ -ɔːr-] also indorsement noun1. [countable, uncountable] LAW when someone signs a formal document for something they own so that ownership changes to someone else:• A bill of lading was transferable by endorsement, and capable of transferring title to the goods.
2. [countable, uncountable] BANKING when someone signs a cheque, bill of exchange etc that was payable to them so that it becomes payable to someone else3. [countable, uncountable] BANKING when a bank official signs a bill of exchange, or promissory note as a promise that the bank will pay it. The bank will then get the money from the person who originally should have paid it after discounting it• Under the policy terms and endorsements, we will insure you against certain legal liability, loss or damage.
5. also ˈproduct enˌdorsement [countable, uncountable] MARKETING when a well-known person says in an advertisement how good they think a product is:• Her agent committed her to product endorsement deals ranging from supermarkets to digital cameras.
* * *
endorsement UK US (US ALSO indorsement) /ɪnˈdɔːsmənt/ noun► [C or U] (also product endorsement) MARKETING a statement made by someone in an advertisement, especially a well-known person, saying that they use and like a particular product: »The company is considering other marketing tactics like celebrity endorsement and using cartoon characters to promote products.
»Artists and athletes can earn a lot of from brands, film rights, product endorsements, and such things.
an endorsement contract/deal »The young swimmer has just signed a lucrative endorsement deal with a well-known swimwear maker.
► [C or U] a public statement made by someone saying that they approve of or support someone or something: endorsement of sth »The stock exchange was boosted by the central bank's endorsement of another interest rate cut.
a government/official/personal endorsement »Federal regulators gave their official endorsement to a technology standard for digital TV broadcasts, clearing the way for the next-generation of TV sets.
»a ringing/strong/overwhelming endorsement
endorsement by/from sb »The plan, which would require endorsement by the federal government, is unlikely to be approved in its current form.
► [C or U] BANKING the act of signing the back of a cheque, bill of exchange, etc. that has your name on it in order to give your permission for it to be paid to someone else: »What are the regulations for cheque endorsements?
► [C] INSURANCE a condition that is included in an insurance agreement: »A policy endorsement can be used to modify a current policy without completely rewriting it.
Financial and business terms. 2012.
