bearer document

(banking/finance/law/shipping) A negotiable instrument, commercial paper, document of title, or security that is issued payable or transferable on demand to the individual who holds the instrument, or one that is endorsed in blank. A bearer document authorizes the payment of funds or the transfer of property to the bearer when the bearer presents the document to the person, such as a bank or a shipper, that is holding the funds or property. See bearer; endorsement.

Was this article helpful?

Related Articles

Need Support?

Can't find the answer you're looking for?
Contact Support