certificate of deposit

A Certificate of Deposit or FIXED DEPOSIT RECEIPT is only an acknowledgement from a Banker to a Coustomer of an agreement or understanding that so and so amount is depposited for so and so period at a particular rate of interest.  It is not in the strict sence a Negotiable Instrument because it cannot be transfered or endorsed to another person or entity.  An endorsement on the back of this certificate to pay another peson may or may not be acted upon by the bank, who for the purposes of repayment will not recognised any other person except the depositor, and in the event of the death of the depositor his nominees.  If no nominees are avaialble the normal law of succession will be fgvien effect to.

sir,

i mean this is the first time bank wrote at top 'this is not a negotiable instrument' the reason of which is not known to me.sbi only doing and not other bank.thanks for reply