Draft (bill of exchange) payable to a third party on a specified or determinable future date, as opposed to a Sight Draft. a Banker's Acceptance is an example of a time draft.
Time Draft
| Banking Dictionary: Time Draft |
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| Law Encyclopedia: Time Draft |
This entry contains information applicable to United States law only.
A written order to pay a certain sum in money that is payable at a particular future date.
Time drafts, sometimes called time bills or time loans, are frequently used by merchants to finance the transportation of goods.
See: commercial paper.
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 | commercial paper |
| Dollar Exchange Acceptance (in banking) |
| Trade Acceptance (business term) |
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Copyrights:
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Law Encyclopedia. West's Encyclopedia of American Law. Copyright © 1998 by The Gale Group, Inc. All rights reserved. Read more |
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Mentioned in
- Dollar Exchange Acceptance (in banking)
- Trade Acceptance (business term)
- Tenor (in banking)
- Acceptor (in banking)
- Maturity Date (in banking)
- Sight Draft (in accounting)
- Honor (in banking)
- Banker's Acceptance (business term)
- Acceptance (finance term)
- Draft (in accounting)
- Begging the Ring (1979 Film)
- Bank Discount Rate (in banking)
- Banker's Acceptance (in banking)
- Junior Miss (American Theater)
