Indemnifying bank (Check 21)
nounid
2833·updated May 12, 2026candidate
A financial institution that transfers, presents, or returns a substitute check or a paper or electronic representation of a substitute check for which it receives consideration. The financial institution shall indemnify the recipient and any subsequent recipient (including a collecting or returning financial institution, the depository financial institution, the drawer, the drawee, the payee, the depositor, and any endorser) for any loss incurred by any recipient of a substitute check if that loss occurred due to the receipt of a substitute check instead of the original.
MWE
Classifications
Entity Type
Organization0%rule-basedmulti_axis_classifier_low_confidence.v1
Sensitivity
Regulated90%llm-generatedllm:claude-haiku-4-5
Information Class
—70%llm-generatedllm:claude-haiku-4-5
Variants
- plural
- Indemnifying bank (Check 21)s
- possessive
- Indemnifying bank (Check 21)'s
- pluralpossessive
- Indemnifying bank (Check 21)s'
Framework definitions
Federal Financial Institutions Examination Council (FFIEC) IT Examination Handbook Infobase, Glossary1 senseview framework →
- §1
- A financial institution that transfers, presents, or returns a substitute check or a paper or electronic representation of a substitute check for which it receives consideration. The financial institution shall indemnify the recipient and any subsequent recipient (including a collecting or returning financial institution, the depository financial institution, the drawer, the drawee, the payee, the depositor, and any endorser) for any loss incurred by any recipient of a substitute check if that loss occurred due to the receipt of a substitute check instead of the original.
Outgoing relationships
No outgoing triples
This term is not the subject of any RDF-style relationship yet.
Incoming relationships
No incoming triples
No other term currently asserts a relationship to this one.