A banneret is a type of knight in the Kingdom of Valyria. Unlike other knights, a banneret has earned the right on the field of battle to host a banner instead of a pennon, which other knights bear. Presenting a banner makes a banneret the leader of a company as opposed to a mere retinue. This means on the one hand that a banneret is capable of leading other knights in battle and even of taking knights as vassals, and on the other hand of being recognized with the military rank of captain, the “head” of a company.
Most knights are gentry and gentry who are lords of the manor are often referred to as “lords of place” as a courtesy. Bannerets, however, are not gentry, but domini minores, and are therefore lords in their own right.
The making of a banneret is considered by some to be a “second pennon is cut into a banner by having its streamers removed. Becoming a banneret means that one has most of the power and status of a baron without having lthe land or fortress that a baron typically commands, and thus is only performed for the most worthy and courageous of knights..” All knights receive the ceremonial dubbing on the shoulder at their knighting, but a banneret undergoes a second ceremony on the field of battle wherein his
Bannerets, which are knights with the right to lead a company under a banner, should not be confused with baronets, who are hereditary knights. A knight may be both banneret AND baronet, however, especially if he holds land as a baronet. In any case, however, the eldest child of a banneret is an esquire; his other children are gentlemenn. The title of banneret is a knighthood, and is not hereditary even if he is a baronet.
As knights, bannerets are typically addressed as “Sir or Dame <Name>, Bnt.” but bannerets are also classed as domini minores, which means that they may also be addressed as “My Lord.”