ACCOMODATION ENDORSEMENT Definition

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ACCOMODATION ENDORSEMENT is a) the guarantee given by one legal entity to induce a lender to grant a loan to another legal entity. b) a banking practice where one bank endorses the acceptances of another bank, for a fee, qualifying them for purchase in the acceptance market.

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CHECK is a draft drawn against a bank, payable upon demand to the person/entity named upon the draft.

PROXIMO (usually abbreviated to PROX) means of or in the following month.

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