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TeachMeFinance.com - explain Restrictive indorsement historic definition... Restrictive indorsement -- An indorsement so worded as to restrict the further negotiability of the instrument. The words "For collection" written on a promissory note render the instrument restrictive. The indorser in such a case may hold that he is not the owner of the note and did not mean to give title to it or to its proceeds when collected ; such an indorsement merely makes the indorsee agent for the indorser in collecting the note. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.