The title of a *knight permitted to take his *vassals into battle beneath his *banner; this usually meant five or six knights with *squires and *sergeants; also, a person on whom a knighthood was bestowed on the field of battle; a rank of knighthood. The term banneret was used to differentiate between knights of higher rank and ordinary knights bachelor. The banneret was entitled to display his arms on a square banner; the ordinary knight bachelor had to use a triangular *pennon. He would have had a larger retinue than the knight, perhaps as many as 20 men. On campaign with the king, he received 4s a day, the knight 2s. He was responsible for commanding retinues in the field and garrisoning castles. Thus, Edward Montagu as a banneret at Crecy (1346) fought at the head of 9 knights, 15 esquires and 20 archers. In the 14c the title banneret began to be applied to those promoted to the baronage but possessing no land. They thus fell below a full *baron but above a knight. When summoned to parliament, the barons insisted upon their distinction. However, by the first quarter of the 15c this had been blurred by succeeding bannerets going to parliament and it fell out of use.
Dictionary of Medieval Terms and Phrases. Christopher Coredon with Ann Williams.