Question

Give word / term or phrase for each of the following statement.

Fees charged by the Notary public on dishonour of a bill.

Answer 1

Noting charges

Explanation: 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 is 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.