Endorsement
11.1. The essence of an endorsement lies in the fact that by placing a transfer notation on the back of the bill of exchange or on an additional sheet (allonge) together with the bill of exchange to another person, the right to receive payment is transferred. A person who transfers the bill of exchange by endorsement is called the endorser. The person receiving the bill of exchange by endorsement is referred to as the endorse or endorsee. The act of transferring the bill of exchange is called endorsement or endorsing the bill of exchange. For the payer of an endorsed bill of exchange, it does not matter to whom the payment is made, provided that the bill reaches the last holder through a series of consecutive successive endorsements. The possibility of transferring the bill of exchange by endorsement has expanded its scope of application, transforming the bill of exchange from a means of transferring funds into a means of payment and further into a commodity purchased with the aim of making payments
Endorsement - a transfer notation on a negotiable instrument, bill of exchange, check, consignment note, etc., confirming the transfer of rights under this document to another person. It is usually placed on the back of the document or on an additional sheet. The person who makes the endorsement is called the endorser.
Source: Letter from the Bank of Russia dated 09.09.1991 No. 14-3/30 "On banking operations with bills of exchange"