Legal Dictionary of Pakistan

traveler's check

A cashier's check that must be signed by the purchaser at the time of purchase and countersigned when cashed; an instrument that (1) is payable on demand, (2) is drawn on or payable at or through a bank, (3) is designated by the term "traveler's check" or by a substantially similar term, and (4) requires, as a condition to payment, a countersignature by a person whose specimen signature appears on the instrument. UCC § 3-104(i). 0 Traveler's checks, which are available in various denominations, are typically purchased from a bank or financing company.