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 ?
C, the rule drafters surveyed demonstrated, on balance, a
To assist in the drafting process, careful drafters engage the help of accountants or other professionals who are skilled at modeling partnership allocations, including allocations of debt among the partners and the dreaded Sec.
23) Section 324 of the Senate Manual alerts drafters to the canon against implied repeals by advising that courts are likely to interpret statutes that are arguably inconsistent as being consistent, even "at the risk of reaching a far-fetched interpretation of I or both of the provisions.
A typical exchange between the advisory group and the constitutional committee, he said, would go something like this: One of the Iraqi drafters would have a question about, or take issue with, the legality of a section or a particular statement within the draft constitution.
Drafters often cringe when a legislator submits a draft and says, "Just draft me up this model legislation.
Editions, issues, and states, or, When to create a new record (John Attig and Ann Copeland drafters, Robert Maxwell leader).
Historically, drafters have focused on the first challenge, that of "in-texting" the law, and have paid little attention to the challenge of communication.
In speculating upon the form a new ergonomics rule might take, it could be that drafters will find it to be more acceptable and appropriate to use a performance-based approach rather than a prescriptive standard.
I was one of the party platform drafters, which is why I was supposed to be up there," Achtenberg says.
Drafters of insurance requirements are frequently guilty of using outdated or simply inappropriate language to express the insurance requirements they wish to impose on parties to leases and contracts.
They have a 17-person staff, including two licensed architects, three Auto CAD drafters, two architectural and graphic designers, two contract administrators, one New York City Building Department Expediter, and general clerical and office support staff.
Nevertheless, the NCCUSL has passed UCITA, and its drafters defend the legislation on the ground that both consumers and vendors will be able to rely on a single law.