Archive:Funds Remittance/Banker's Drafts: Difference between revisions
wikademia>MSUglobal New page: {{TF4.4}} ==Banker’s Drafts== This draft is similar to a check. However, it is a time draft drawn on a bank by a bank; and once accepted by the drawee bank, it becomes an unconditional... |
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This draft is similar to a check. However, it is a time draft drawn on a bank by a bank; and once accepted by the drawee bank, it becomes an unconditional obligation of the bank to honor at maturity. | This draft is similar to a check. However, it is a time draft drawn on a bank by a bank; and once accepted by the drawee bank, it becomes an unconditional obligation of the bank to honor at maturity. | ||
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[[Category:International Business]] | [[Category:International Business]] | ||
Revision as of 14:05, 28 September 2007
Banker’s Drafts
This draft is similar to a check. However, it is a time draft drawn on a bank by a bank; and once accepted by the drawee bank, it becomes an unconditional obligation of the bank to honor at maturity.