documentary draft

Definition of "documentary draft"
  1. A specific type of draft that requires the presentation of certain documents, such as an invoice or certificate of title, before it can be honored
How to use "documentary draft" in a sentence
  1. The bank told the business that they would need to provide an invoice in order for the documentary draft to be honored.
  2. Before releasing the goods, the company requested a documentary draft that required a certificate of title.
  3. The documentary draft served as secure payment, as it required the buyer to present the necessary documents for it to be honored.

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