- Any order in writing requiring the recipient to pay the amount specified on the face of the document, either on presentation of the document (sight draft) or at a fixed future date (time draft).
Accounting dictionary. 2014.
Look at other dictionaries:
documentary draft — see draft Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
documentary draft — A documentary draft or a documentary demand for payment is one the honor of which is conditioned upon the presentation of a document or documents. Document means any paper including document of title, security, invoice, certificate, notice of… … Black's law dictionary
documentary draft — noun see documentary bill … Useful english dictionary
draft — 1 n 1: a preliminary version of something (as a law) 2 a: a system for or act of selecting individuals from a group (as for military service) b: the act or process of selecting an individual (as for political candidacy) without his or her… … Law dictionary
draft — A written order by the first party, called the drawer, instructing a second party, called the drawee (such as a bank), to pay money to a third party, called the payee. An order to pay a sum certain in money, signed by a drawer, payable on demand… … Black's law dictionary
documentary bill — noun or documentary draft also document bill : a bill of exchange drawn on a consignee of goods and having appended to it the shipment documents by way of collateral security for its payment … Useful english dictionary
Draft Dodger Rag — Song by Phil Ochs from the album I Ain t Marching Anymore Published 1964 Released 1965 Genre Protest song, folk … Wikipedia
Draft details — An ISO term. Information pertaining the draft required under a documentary credit. ISO Documentary Credit Forms term. 20x 30x. ISO Standard Telex Formats term. 4*35x … International financial encyclopaedia
documentary collection — A service provided by banks to sellers in obtaining payments. This service is usually transacted by the seller s bank through the buyer s bank, with the latter presenting the shipping documents to the buyer in exchange for payment or for signing… … Financial and business terms
documentary collections — Trade transactions handled on a draft basis. Bloomberg Financial Dictionary … Financial and business terms