- The act of agreeing to make a payment upon the presentation of a financial request called draft, check, note, or similar instrument
- The act of buying or reducing the cost of a financial draft, in accordance with the terms set out in a letter of credit
- The bank agreed to honor the check that was presented by the merchant.
- The financial institution decided to honor the terms of the letter of credit and purchased the draft at a discounted price.
- When presented with valid proof, the company will honor your rebate claim.