Glossary
What is Protest?
Official establishment through a notary that a negotiable instrument has not been paid or has not been accepted.
As a rule it is required in order to have recourse against endorsers and avalists. If the instrument bears a "without protest" clause, the step is unnecessary. A protest not drawn up in time results in the loss of the right of recourse.
Related terms
This definition is for general information; what the term means in your own file may differ. Let us assess your case together.