ALTERNATE PAYEE ENDORSEMENT Definition

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ALTERNATE PAYEE ENDORSEMENT, normally, it is when one payee endorses a draft over to another entity, then the new or alternate payee endorses the draft near the original payees endorsement (signature).

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DISBURSE/DISBURSEMENT is the paying out of money to satisfy a debt or an expense.

NON-FIXED INCOME refers to any income that is not fixed, e.g. wages, profits realized on the sale of assets and/or securities. See FIXED INCOME.

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