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Question
Answer the following question in one sentence only.
What are Noting Charges?
Solution 1
Noting charges are the fees paid to the Notary public for recording the fact of dishonoured bill.
Solution 2
When a bill is presented for payment and the acceptor fails to make the payment, the bill gets dishonoured. In order to keep a legal proof of such dishonour, the bill gets noted by the Notary Public (who is approved by the government). In exchange for the notary service, the Notary Public charges fees known as noting charges.
RELATED QUESTIONS
Noting charges are payable to the Notary public, in case of honour of a bill.
Give word/term or phrase for the following statement.
Officer appointed by the Central Government for noting of dishonor of a bill
Give word / term or phrase for the following statement.
Fees charged by the Notary public on dishonour of a bill.
Write True or False
Noting charges are payable to the Notary public on honour of a bill.
