Endorsement

An endorsement may refer to a number of concepts. Most commonly the word means a signature that approves or authorizes something (e.g. payment or transfer). It also may refer to a document’s amendment (e.g. driver's license). Any statement of support for a person or a group of people, ideas or goods made publicly may be considered an endorsement.

Meanings of Endorsement

Even though endorsement may refer to a wide range of concepts with different senses, most of them include the idea of approving or authorizing something. In the business field the concept serves as a signature or an alternative of a stamp that approves transfers and payments. Additionally, it may appear as an amendment or clause that makes little changes in a document or makes its terms more specific.

However, the endorsement may be used in more common conditions. In this case an endorsement means words of support for an idea or person. Also, a person who endorses may be paid in some cases. For instance, a singer may endorse a politician, thus, promoting his or her party program.

Kinds of Endorsements

Signature Endorsements. A signature may also serve as an endorsement. An employer provides an employee with a paycheck and in order to authorize it, the employer signs the check. The action of signing itself is regarded as an endorsement. There is another procedure. Blank endorsement is a procedure of putting a sign on the back of a check in order to cash it. Note that everyone may cash such a check , it isn't necessary to be written to the person.

In case of other financial transactions, one of the sides may wish to pay with a check. Thus, the receiving side is obligated to authorize it with a signature. This signature (usually located on the back) means that the transaction is successfully done and allows the further transfer.

In case there are two or more people who are stated as a receiving side, then the endorsement rules are slightly different. If there is “and” between names, all stated people must leave the signature on the check. If there is “or” between, then it doesn’t require all people's signatures, one signature is enough.

Insurance Endorsements. Insurance endorsements are additions or changes in the original policy. In case an insured is dead, his or her beneficiary continues to receive monthly payments. This kind of an endorsement is called a rider. This endorsement implies the policy premium to the policyholder and beneficiary and risk to the insurer.

License endorsements. This kind of endorsement gives additional (beneficial) rights to drivers. After getting such motorcycle endorsement a motorcycle can be ridden on public roads. These licenses may allow carrying a particular kind of cargo as well.

On the other hand, there are restrictions that a license endorsement may impose. For instance, corrective eyewear restriction prohibits the operation of any vehicle without glasses or contact lenses.

Endorsements as Promoting

As it was stated above, endorsements may be words of support of a person or an idea. Mostly it’s used in politics, when an influencer or an artist is asked to support a political candidate. However, endorsements are also popular in advertising. For example, if a celebrity is used in an advertisement it’s called a celebrity endorsement, which is a most popular type of endorsements. Athletes, influencers and even product users may endorse.