Explain the term “Noting”

1.	Explain the term “Noting”
Answer» When a bill of exchange is dishonoured due to nonpayment, it is usual to get it ‘noted’, to establish the matter of dishonour legally. The noting is done by the “Notary public”, who is an officer appointed by the Government for this purpose. Noting authenticates the facts of dishonour. For providing this service, a number of fees is charged which is called “Noting charges” Noting charges either paid by the holder or any other parties should be borne by the acceptor in the absence of any agreement.

Answer»

When a bill of exchange is dishonoured due to nonpayment, it is usual to get it ‘noted’, to establish the matter of dishonour legally. The noting is done by the “Notary public”, who is an officer appointed by the Government for this purpose. Noting authenticates the facts of dishonour.

For providing this service, a number of fees is charged which is called “Noting charges” Noting charges either paid by the holder or any other parties should be borne by the acceptor in the absence of any agreement.

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