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 ?
Burwell and the lack of precedential value for his context-specific approach to Chevron deference in City of Arlington, these positions find some empirical support from a number of congressional staffers and federal agency rule drafters surveyed in prior empirical studies.
The agency rule drafters, for instance, reported that they
Whatever the original reason for the shift, there is another more important reason that caused drafters to almost completely abandon safe-harbor allocations in favor of targeted allocations.
It may therefore require some time for the legal drafters to finish drafting as it is a very extensive piece of draft legislation," Minister KuugongelwaAmadhila said.
The drafters identified many problematic areas in the existing law and included provisions that would have dealt with a number of issues that still arise.
Additionally, he says, the drafters clearly stated the periods for reinstatement and redemption as well as the rules for possession.
The drafter from military-ruled Myanmar, however, has opted to leave the issue up to his foreign minister to decide, while the drafters from Cambodia, Laos and Vietnam said they cannot commit because they have yet to establish their respective human rights commissions.
Moreover, the Canadian judiciary, through its "reading into" the Canadian Charter of Rights and Freedoms rights unforeseen by its drafters, has advanced the recreational concept of sex.
The drafters intended to leave the citizenry free to engage in political speech, in particular, and to protect the free flow of information necessary to a free people.
Frank Keating, president and chief executive officer of the American Council of Life Insurers, said ACLI still is reviewing the final language but plans to continue working with the bill's drafters as it proceeds in the House.
Using his knowledge of constitutional, international, and comparative law, Knechtle served as an adviser last year to the drafters of the new Iraqi constitution.
State legislatures employ professional bill drafters to mold a legislator's idea into a clear, concise, well-organized and legally correct bill draft.