NOTICE OF COMPLETION

A notice issued to concerning parties by the contractee stating that all the work concerning the project has finished. In addition, the period within which the concerned parties can exerciset their lien rights is also stated in the notice.

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NOTICE OF DEFAULT

A note stating the intent of legal action against the borrower by the lender, in the event that the borrower is in default.

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NOTICE OF DISHONOR

When a negotiable bill or note is dishonored by nonacceptance onpresentment for acceptance, or by non-payment at its maturity, it is the duty of theholder to give immediate notice of such dishonor to the drawer, if it be a bill, and to theindorser, whether it be a bill or note. 2 Daniel, Neg. Inst.

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NOTICE OF FORFEITURE

the name of the notice that is given to property owners to appear in court to say why the property shouldn’t be forfeited.

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NOTICE FOR NON-ACCEPTANCE

A notice assigned to instruments such as a check that has been dishonored. It indicates the nonacceptance of the dishonored instrument as a form of payment.

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NOTICE OF JUDGMENT

the name given to the notice govern to a party against the judgdement was made that the judgement has been recorded.

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NOTICE IMMEDIATE

the term given to the time a person has to make an insurance claim.

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NOTICE OF LOCKOUT

When negotiations break down between the employer and the recognized trade union, this statement to the related government agencies filed by the employer acts as a notification to stop business activities and the closure of its premises.

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NOTICE IN PAIS

the term that is given to the notice in a record that is not in writing.

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NOTICE OF LOSS

In the event of a loss, this notice informs the insurer about the occurrence of the loss. The procedure to notify the insurer is usually stated in the insurance policy.

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