This concept is used in everyday life as well. For example, someone who is young and has no credit established to qualify for a credit card or loan, may be able to qualify if a parent or guardian co-signs. This process is similar to accommodation endorsement.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
accommodation endorsement — The act of a third person the accommodation party in writing his or her name on the back of a commercial paper without any consideration, but merely to benefit the person to whom the paper is payable or to enable the person who made the document… … Law dictionary
accommodation — I (adjustment) noun accordance, adaptation, agreement, arrangement, compositio, composition of differences, compromise, friendly agreement, harmonization, mutual understanding, obliging, provision, readjustment, reconciliatio, rectification,… … Law dictionary
endorsement — en·dorse·ment also in·dorse·ment n 1: the act or process of endorsing 2: an inscription (as a signature or notation) on a document or instrument; esp: an inscription usu. on the back of a negotiable instrument that transfers or guarantees the… … Law dictionary
Accommodation Paper — A negotiable instrument that provides a third party promise of payment in the case that the original borrower does not live up to the terms of the original transaction. Accommodation papers are usually used to support one party s creditworthiness … Investment dictionary
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