Finans
Sartli Ciro (Qualified Endorsement)
İngilizce: qualified endorsement
Türkçe Tanım
Bir kiymetli evraki devreden cirantanin, imzasina 'rucusuz' gibi bir kayit ekleyerek sonraki hamillere karsi odeme sorumlulugunu sinirladigi ciro turudur. Ciranta boylece evrakin mulkiyetini devreder ama borclunun odememesi halinde geri odeme riskini ustlenmez; bu, riski zincirin bir sonraki halkasina kaydirir. Ticaret finansmaninda rucusuz ciro, ihracatcinin alacagini iskonto ettiren bankanin ulke ve karsi taraf riskini fiyatlamasini zorunlu kildigindan, iskonto orani cogu zaman ruculu isleme kiyasla belirgin bicimde yukselir.
English Definition
An endorsement in which the transferor of a negotiable instrument limits its liability to subsequent holders by adding words such as 'without recourse' to the signature. The endorser thereby passes title but does not assume the repayment risk if the debtor defaults, shifting that exposure to the next link in the chain. In trade finance a without-recourse endorsement compels the bank discounting an exporter's receivable to price country and counterparty risk itself, so the discount rate is typically markedly higher than on a with-recourse transaction.