time draft

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Time draft

Demand for payment at a stated future date.
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Time Draft

A check or other draft that is not payable to the payee until a stated date in the future. It contrasts with a sight draft, in which the payee may demand payment upon presentation of the draft to the appropriate party.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

time draft

A draft that is payable a certain number of days after it has been presented. Compare sight draft.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.