Define: Without Recourse

UK Accounting Glossary

Definition: Without Recourse

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What is the dictionary definition of Without Recourse?

Dictionary Definition

Without Recourse (latin: sans recours)

This appears on a bill of exchange to indicate that the holder has no recourse to the person from whom it was acquired, if it is not paid. This term may be written on the face of the bill of exchange or as an endorsement.

If “Without Recourse/Sans Recours” does not appear on a bill of exchange, then the holder does have recourse to the drawer (or endorser) if the bill is dishonoured upon maturity.

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