Che cosa significa restrictive endorsement ?

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This is commonly used in the banking field. In the UK, cheques made payable to someone often have the term "A/C payee only", which means the cheque can ONLY be put into an account held by the addressee/payee on the cheque. This is to prevent the cheque being assigned to someone else (which can be done on a cheque without this endorsement by the payee signing the back of the cheque and hence paying the money over to someone else.). It is a protection against fraud. The "A/C payee only" statement is a "restrictive endorsement" - an endorsement on the cheque which restricts the way the cheque can be cashed.