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Not negotiable |
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Not negotiableWords written on a bill of exchange or cheque which should prevent encashment following theft. For example if A writes a cheque to B and marks it 'not negotiable', then in the event that the cheque is stolen by C, it could not be cashed since no one can have a good title to it other than B.Similar MatchesNegotiable bill of ladingNegotiable bill of ladingContract that grants title of merchandise to the holder, which allows banks to use the merchandise as collateral. Negotiable InstrumentNegotiable InstrumentAccording to the Uniform Negotiable Instruments Act, an instrument is negotiable when it is in writing and signed, containing an unconditional promise or order to pay a certain amount of money, on demand, or at a definite future date, to the bearer, to order, or to a named or certain drawee. Renegotiable rateRenegotiable rateA type of variable rate involving a renewable short-term "balloon" note. The interest rate on the loan is generally fixed during the term of the note, but when the balloon comes due, the lender may refinance it at a higher rate. In order for the loan to be fully amortized, periodic refinancing may be necessary. Renegotiable Rate MortgageRenegotiable Rate MortgageA real property loan calling for an adjustment in the interest rate at a given time. Example: A loan with a 15 year amortization is adjusted to current interest rates after 2 years. The lender agrees to make the adjusted loan at the new rate as long as the old loan is not in default. The Federal Reserve Board allows the original loan to be treated either as a balloon payment loan or a variable rate loan. However, points must be figured into the A.P.R. based on the time or renegotiation (2 years rather than 15). NegotiableNegotiableA security whose title is transferable by delivery . See also: Negotiable instrument. Further SuggestionsNegotiable instrumentnegotiable instrument Negotiable order of withdrawal (NOW) Negotiable Order of Withdrawal Account (NOW) Negotiable certificates of deposit |
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