Draft

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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 ?
80 "Evasion from Regular Draft to Active Military Service" that criminalized draft evasion with possible sentences of one to five years in prison.
To help Rubinstein with his draft evasion case,Corcoran that day called William Leahy, Selective Service director for the District of Columbia: "He [Rubinstein] is a rich man who's scared as I never knew one who's scared.
The board declined Ali's request for reclassification and he was eventually found guilty of draft evasion, stripped of his title and forced into exile for 3-1/2 years.
Congressional hearings, independent councils, special prosecutors, cover-ups, hush money, subpoenas, pleading the fifth, legal defense funds, draft evasion, marital infidelity, sexual harassment, Paula Jones, Gennifer Flowers, boxers vs.
In the Granite State's 1992 winter primary, Clinton somehow brought himself back from an early political grave after scandals over his youthful draft evasion and alleged adultery.