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D/ Da De Di Do Dr Du

Draft

An unconditional order in writing, signed by a person (drawer) such as a buyer, and addressed to other person (drawee), typically a bank, ordering the drawee to pay a stated sum of money to yet another person (payee), often a…

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Drawee

The individual or firm on whom a draft is drawn. The drawee is instructed by the drawer to pay a specified sum of money to, or to the order of the payee, or to the bearer. In a documentary collection,…

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Drawer

The individual or firm that issues or signs a draft instructing the drawee to pay a specified sum of money to, or to the order of, a named person (payee), or to bearer. In the case of a draft to…

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Drawing

A term used to describe the payment of a letter of credit based on a presentation of documents that comply with the terms and conditions of the letter of credit.

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