Investopedia

No Protest - NP

Dictionary Says

Definition of 'No Protest - NP'

When a bank receives instructions from another bank not to protest items in the event that a negotiable instrument is not paid or accepted. The collecting bank is not liable for nonpayment or non-acceptance when attempting to obtain payment according to the payment terms of the draft instrument.
Investopedia Says

Investopedia explains 'No Protest - NP'

When instructing a collecting bank to not protest items for nonpayment the sending bank will stamp "NP" on the draft. The collecting bank is allowed to send items stamped with NP back to the sending bank in the event of nonpayment.

Articles Of Interest

  1. Student Loan Debt: Is Consolidation The Answer?

    Consolidating your student loans offers convenience, but there are drawbacks.
  2. Home-Equity Loans: What You Need To Know

    We shed light on why consumers decide to use this form of debt and whether it is a good alternative.
  3. 4 Steps To Attaining A Mortgage

    It starts with knowing your choices as well as your price range. We show you how to get there.
  4. Understanding The Mortgage Payment Structure

    We explain the calculation and payment process as well as the amortization schedule of home loans.
  5. Handcuffs And Smoking Guns: The Criminal Elements Of Wall Street

    From godfathers to perps, familiarize yourself with the "criminal elements" creeping around Wall Street.
  6. The Reverse Mortgage: A Retirement Tool

    Discover another way to fund your retirement without having to make payments on a loan.
  7. Financial Career Options For Professionals

    Find out if spreading your wings to try a new career will make you soar or fall flat.
  8. If I want to have some cash in a liquid account for unexpected emergencies, what is best? A savings account or another type?

    It's always a good idea to keep some money set aside in a liquid form, but it's a double-edged sword, because the more liquid your money, the less it's earning. If you never have an emergency, ...
  9. 3 Banking Moves You Should Make Before Traveling

    Putting your finances in order should be one of your top priorities before traveling out of the country.
  10. Clearing Up Tax Confusion For College Savings Accounts

    Put your kids through school without being hounded by the tax man.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
  2. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.
  3. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
  4. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.
  5. Angelina Jolie Stock Index

    An index made up of a selection of stocks from companies associated with actress Angela Jolie.
  6. Consequential Loss

    The amount of loss incurred as a result of being unable to use business property or equipment.
Trading Center