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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

draft  

Definition 1.

An instrument signed by a drawer to a drawee requesting payment at a future time to a third party (often the drawer).
 

Definition 2.

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.
 
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