Accommodation endorsers typically have some relationship with the borrowing person. Typical examples would include a parent company endorsing a subsidiary or a parent endorsing a child with no credit rating. The advantage of having an accomodation endorser may not only include obtaining credit, but may result in a reduced rate of interest as well.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
accommodation endorser — A person or a bank that endorses a loan to another party; for example, a parent company may endorse a bank loan to a subsidiary. The endorser becomes a guarantor and is secondarily liable in case of default. Banks may endorse other banks… … Big dictionary of business and management
accommodation endorser — noun a person who endorses a promissory note without compensation or benefit but simply as a favor to the borrower • Hypernyms: ↑endorser, ↑indorser … Useful english dictionary
endorser — noun 1. someone who expresses strong approval • Syn: ↑subscriber, ↑indorser, ↑ratifier • Derivationally related forms: ↑ratify (for: ↑ratifier), ↑indorse ( … Useful english 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
accommodation paper — or accommodation bill or accommodation note n. a bill of exchange cosigned by one party as maker, acceptor, or endorser without requiring collateral or a fee, in order to lend his or her credit reputation to the second party * * * … Universalium
accommodation paper — or accommodation bill or accommodation note n. a bill of exchange cosigned by one party as maker, acceptor, or endorser without requiring collateral or a fee, in order to lend his or her credit reputation to the second party … English World dictionary
accommodation party — The person who signs an accommodation bill as drawer, acceptor, or endorser and acts as the guarantor … Accounting dictionary
indorser — noun 1. someone who expresses strong approval • Syn: ↑subscriber, ↑endorser, ↑ratifier • Derivationally related forms: ↑ratify (for: ↑ratifier), ↑indorse, ↑ … Useful english dictionary
surety — sure·ty / shu̇r ə tē/ n pl ties [Anglo French seurté, literally, guarantee, security, from Old French, from Latin securitat securitas, from securus secure] 1: a formal engagement (as a pledge) given for the fulfillment of an undertaking 2: one… … Law dictionary
comaker — noun certifier, coapplicant, coborrower, co obligor, coratifier, cosignatory, cosigner, endorser, party to an instrument Burton s Legal Thesaurus. William C. Burton. 2006 comaker … Law dictionary