Investment dictionary

WAIVER OF DEMAND

Waiver Of Demand: translation

An agreement by the party that has endorsed a check or draft to accept legal responsibility, without being formally notified, should the original issuer of the check or draft default. The waiver of demand may be express or implied; it may also be oral or written unless oral waivers are specifically prohibited by law.

The term also refers to a bank's waiver of its right to formal notification when it presents short-term negotiable debt instruments such as drafts or banker's acceptances to a Federal Reserve bank for rediscounting. In such instances, the Federal Reserve considers the bank's endorsement as a "waiver of demand, notice and protest" if the original issuer defaults on its debt obligation.

  1. waiver of demand—Отказ от протеста векселя...Англо-русский словарь по экономике
  2. waiver of demand—фин. waiver of notice waiver of notice. отказ от протеста векселя отказ от протеста векселяСловарь экономических терминов...Англо-русский экономический словарь