There are three main ways of endorsement:

1. Limited endorsement

Some limited endorsements stipulate that the bill can only be delivered once and can only be used by the transferee. A bill of exchange without the right to be transferred again. If the endorser signs the back of the bill, it should be written "Payment to ××× (name of endorsee) only" or "Payment to ××× (name of endorsee), no transfer possible."

2. Blank endorsement

Also known as bearer endorsement, that is, the endorser only signs the bill and does not write payable to someone, that is, there is no endorsee. A bill endorsed in blank is negotiable upon delivery. That is, after the first transferor of a blank endorsement signs the endorsement, it can be circulated in the market multiple times until the last beneficiary. There is no need to indicate other transferors and transferees in the circulation process on the back of the bill.

3. Registered endorsement

A registered endorsement must have a bank or company as the endorser, and most registered endorsements are given to the issuing bank. Registered endorsement is rarely used in daily business. A registered endorsement of an insurance document means that the assignee of the insurance document has the right to claim compensation from the insurance company or its agent after the insured goods are in danger.

Extended information:

The endorsement of the insurance document should be consistent with the endorsement of the bill of lading, that is, the transfer scope of the insurance document through endorsement should be equal to or greater than the transfer scope of the bill of lading. If the bill of lading is endorsed in a named manner, the insurance document can be endorsed in a named manner with the same content.

When the endorsee realizes his pledge right in accordance with the law, he can exercise his rights in the bill of exchange. If the drawer of a bill writes the words "not transferable" on the front of the bill, the bill shall not be transferred (loses its negotiability). If its direct successor endorses and transfers the bill, the drawer shall not be liable for the guarantee to the endorsee directly subsequent to it, and the bank will not accept the bill presented for payment or entrusted for collection by the endorsee.

Baidu Encyclopedia-Endorsement