1. CHECK INDORSEMENTS

2. BLANK INDORSEMENT

3.  The simplest kind of indorsement  Only contains a signature of the indorser and there are no additional words or language  It is sufficient to have the indorser’s signature to cash or to deposit a check  It becomes a risky instrument because in the case of theft or loss, the check can be cashed by any person BLANK INDORSEMENT

4. SPECIAL INDORSEMENT

5.  Consists not only of a signature of the indorser but also words indicating to whom, or in whose order, the check is payable (i.e., indorsee)  Becomes tricky if the credit union does not know the original indorser (can’t check relationship to indorsee or signature) SPECIAL INDORSEMENT

6. RESTRICTIVE INDORSEMENT

7.  Besides a signature of the indorser, has information about how to negotiate a check  For example, Marry Smith signs a check made payable to her order as “For Deposit to Account No. 12345678.” This indorsement will only allow depositing this check into the named bank account  Safer than a blank endorsement  Credit union must follow the restriction (a check indorsed as “for deposit only” can not be cashed) RESTRICTIVE INDORSEMENT

8. CONDITIONAL INDORSEMENT

9.  Besides a signature of the indorser, has information about an action that has to be done to negotiate this check  For instance, a condition such as “Payable to … (Indorsee’s Name) after the building is constructed” means that the indorsee will receive his/her money only after this condition is fulfilled  This type of indorsement is not typically accepted by financial institutions because of impossibility to verify performance of the condition CONDITIONAL INDORSEMENT

10. QUALIFIED INDORSEMENT

11.  Relieves the indorser from the liability of making a check good if the check maker defaults on it  Wording "Without Recourse" (along with the indorser’s signature) on the back of a check prevents it from returning to the indorser for any reasons  This type of indorsement is not accepted by financial institutions because of the limitation of the indorser’s liability QUALIFIED INDORSEMENT