Circular note. A note for a specified amount issued by a dealer in exchange and payable by any
correspondent of the dealer. It is intended for the use of a traveler. A traveler purchases a
number of these notes, say, for £10 each. The traveler indorses each as he presents it for
payment. He is provided with a letter of indication which bears his signature and the signature on
the note must correspond with the signature in the letter of indication.
correspondent of the dealer. It is intended for the use of a traveler. A traveler purchases a
number of these notes, say, for £10 each. The traveler indorses each as he presents it for
payment. He is provided with a letter of indication which bears his signature and the signature on
the note must correspond with the signature in the letter of indication.
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