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Draft |
Also found in: Dictionary/thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia, Hutchinson | 0.05 sec. |
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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Looking at both, you get wistful for the days when draughting was about semi-edible hand-made Fabriano paper and the time-honoured T square/set square/Rapidograph combo. When I was a student in the 1950s I fixed my drawing paper to my board with drawing pins -- draughting tape had not been invented -- and I drew with either a newly sharpened pencil or a ruling pen. |
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