time draft
Definition
Bill of exchange payable at a fixed future date or a determinable future time such as 30 days after presentation (after sight). The purpose of a time draft is to allow the buyer some time to pay for goods bought. In contrast, a sight draft becomes payable at the time it is presented to the buyer. Also called usance draft.
Mentioned in these definitions
Popular 'Accounting & Auditing' Terms
time draft in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/time-draft.html
