Receivable lending with the requirement that the borrower's account debtors must be notified of the bank's lien. The payments on the accounts are then usually sent directly to the lender by the account debtors.
Sometimes called notification plan. American Banker Glossary

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notify no‧ti‧fy [ˈnəʊtfaɪ ǁ ˈnoʊ-] verb notified PTandPP [transitive]
to tell someone something officially or formally, usually by writing to them:

• The company notified about 110 employees they would lose their jobs because of the planned closure.

notify somebody of something

• Customers affected by this change are being notified of their options by letter.

— notification noun [countable, uncountable] :

• You can ask for notification in writing if you wish.

• The goods may be assembled in the UK, provided the above notification is sent to Customs.

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notification UK US /ˌnəʊtɪfɪˈkeɪʃən/ noun [C or U]
the act of telling someone officially about something that has happened or will happen, or a document that does this: »

a written notification


You must give the bank notification in writing if you wish to close your account.


Millions of taxpayers have now received notification of their new tax code.

notification to sb »

Good professional practice requires notification to clients of major changes to the composition of a firm.

Financial and business terms. 2012.

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Look at other dictionaries:

  • notification — [ nɔtifikasjɔ̃ ] n. f. • 1468; « connaissance » 1314; du rad. lat. de notifier ♦ Dr. Action de notifier; acte par lequel on notifie. ⇒ annonce, avis, exploit, signification. Donner, recevoir notification d un arrêt. Dr. admin. Information… …   Encyclopédie Universelle

  • Notification — No ti*fi*ca tion, n. [Cf. F. notification. See {Notify}.] 1. The act of notifying, or giving notice; the act of making known; especially, the act of giving official notice or information to the public or to individuals, corporations, companies,… …   The Collaborative International Dictionary of English

  • notification — I noun announcement, annunciation, aviso, bulletin, caution, communication, communique, declaration, denuntiatio, disclosure, dispatch, dissemination, divulgation, enlightenment, enunciation, evulgation, information, intelligence,… …   Law dictionary

  • notification — Notification. s. f. Acte par lequel on notifie. Ils ne peuvent plus en douter, la notification leur en a esté faite …   Dictionnaire de l'Académie française

  • notification — [nōt΄ə fi kā′shən] n. [ME notificacioun < MFr notification] 1. a notifying or being notified 2. the notice given or received 3. the letter, form, etc. used to convey such a notice …   English World dictionary

  • Notification — Notification, lat. deutsch, Bekanntmachung; Meldung; notificiren, anzeigen, eröffnen …   Herders Conversations-Lexikon

  • notification — (n.) late 14c., from O.Fr. notificacion (13c.) and directly from M.L. notificationem (nom. notificatio), noun of action from pp. stem of L. notificare to make known, notify (see NOTIFY (Cf. notify)) …   Etymology dictionary

  • notification — [n] announcement advertisement, advisory, alert, bulletin, communication, communique, declaration, information, message, news, notice, proclamation, release, report, statement, warning; concepts 49,274 …   New thesaurus

  • Notification — Cette page d’homonymie répertorie les différents sujets et articles partageant un même nom. La notification est la formalité rencontrée dans différents domaines : le droit l informatique l agro alimentaire Sommaire 1 En droit …   Wikipédia en Français

  • notification — n. 1) to send notification 2) to get, receive notification 3) notification that + clause (we read the notification that our building had been sold) 4) pending (further) notification * * * [ˌnəʊtɪfɪ keɪʃ(ə)n] receive notification pending (further) …   Combinatory dictionary

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