Information about financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.
Main Page: tax advisor, financial advisor, finance, business, inventory control, accounting, inventory, money,
Also see related: homebuying, mortgage, credit, home financing, homebuyer, insurance, real estate, homes, property,
Definition of draft
A guaranteed form of payment which is issued in amounts over $5,000 (also see bank draft).
An unconventional order in writing - signed by a person, usually the exporter, and addressed to the
A draft addressed to a bank.
Demand for payment.
A method of making payment that is used to maintain control over payments made
Demand for immediate payment.
Demand for payment at a stated future date.
A draft addressed to a commercial enterprise. See:draft.
Money owed to the bank in a cheque account where payments exceed receipts.
The amount by which a check or other payments exceeds the funds on deposits.
Is an agreement with the Bank or Financial Institution to cover overdrafts. This service will typically involve a fee and be limited to a pre-set maximum amount.
System whereby a depositor may write cheques in excess of the balance, with the bank automatically extending a loan to cover the shortage.
A loan facility on a customers account at a financial institution allowing the customer to overdraw up to a certain agreed limit for an agreed period.
A guaranteed form of payment which is issued in amounts over $5,000.
A short-term source of credit which allows you to overdraw on your account up to a pre-established limit. For example, overdraft protection spares customers both the cost and the personal embarrassment of NSF cheques. Overdraft protection is attached to your PCF Chequing Account.
Amounts due and payable by the business within a period of 12 months, e.g. bank overdraft, creditors and accruals.
Currency, coin, and funds on deposit that are available for immediate withdrawal without
A bill of exchange, or draft, drawn by the borrower for payment on a specified date, and accepted by a chartered bank. Upon acceptance, the bill becomes, in effect, a postdated certified cheque.
Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.