Draft


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Related to Draft: bank draft, Military draft

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 ?
Draft Law on Commercial Contract: Currently waiting response from Ministry of Justice.
Craft beers continue to grow, even when American beer sales overall are down, and draft is what craft drinkers prefer.
If, because of injury, a player selected in the Rule 5 draft spends less than 90 days on the active Major League roster, he also must remain on the Major League roster the next season until he earns 90 days of service.
Being a non-technical person, I wonder if I have made some mistake in my Yahoo mail or Yahoo has changed its draft facility.
Draft horses can be used almost anywhere you would use a tractor on the farm.
But the profit margin set out in the July draft is unconscionable and we can only assume which interested party suggested such a lopsided deal.
Angels right-hander Jered Weaver was taken with the 12thoverall pick in the 2004 draft from Long Beach State but couldn't sign until May 2005, when he agreed to a $4 million bonus.
The new draft keeps the specific changes suggested by Liturgiam Authenticam, including one that English translations of the Creed return to the first person singular--"I believe"--used in the Latin and most other languages.
The letter acknowledged that an implicit concern of the exposure draft is that enterprises might overstate tax benefits by making unreasonable assumptions about audit detection risks or taking speculative positions.
In this stage students are encouraged to go through multiple drafts.
It also was determined during the course of this dispute that draft expert reports exchanged between experts for the United States and third parties were not produced to Trigon's counsel and that such draft expert reports had been deleted from the experts' hard drives and network files.