time draft

Definition of "time draft"
  1. A type of financial document that requires payment at a set number of days following the date of issue or its presentation
How to use "time draft" in a sentence
  1. The exporter presented a time draft, requesting payment sixty days after the date it was issued.
  2. To ensure clarity in the payment terms, a time draft was prepared, specifying the payment to be made thirty days post presentation.
  3. Under the agreed terms, the buyer was given a time draft requiring payment twenty days after it was produced.

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