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Question
Answer in one sentence.
What are noting charges?
One Line Answer
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Solution 1
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 gets 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.
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Solution 2
The fee charged by the notary public for noting of dishonoured of inland bill is known as noting charges.
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