Draft


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Related to Draft: bank draft, Military draft

Draft

An unconventional order in writing-signed by a person, usually the exporter, and addressed to the importer-ordering the importer or the importer's agent to pay, on demand (sight draft) or at a fixed future date (time draft) the amount specified on the face of the draft.

Draft

A document in which a payer agrees to make a payment in a certain amount to a payee from an account held with a third party, usually a bank. A common example is a check. There are two main types of draft: a sight draft must be paid by the third party on demand of the payee, while a time draft may only be paid at a stated time.

draft

A written order by one party for a second party to make payment to a third party. A check is an example of a draft drawn by a depositor (first party) on a financial institution (second party) and payable to an individual or organization (third party). See also overdraft, sight draft, time draft.
References in periodicals archive ?
Under the draft proposal, employers must establish the first two elements within a year after the final rule becomes effective.
Everyone involved should understand what the finished product should look like before beginning the draft.
In what seems like a stream of consciousness to the observer, drafts in the brain rapidly construct an interpretation of what happened that does not coincide with the actual sequence of observed events.
has announced the introduction of O M Genuine Draft and O M Genuine Draft Light to Florida, Virginia and Ohio in September.
has published Final Draft software - the number-one selling screenwriting application in the world - for over 20 years.
Looking at this draft, I don't know if any of those players could come in now and help us immediately,'' said.
Perhaps the most important sign that reviving the draft is being considered seriously is a March 9 forum on the proposal held at the Manhattan headquarters of the Council on Foreign Relations.
This article addresses the most significant provisions of the February 2004 draft legislation.
Almost every argument against the draft boils down to the belief that we don't really need one to defend ourselves.
The comment deadline for the IASC exposure draft is June 30, 1996.
The NIH draft report notes that no other research team has replicated the paper's central finding.