Demand draft

A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party (payee).

A demand draft can also be compared to a cheque. However, demand drafts are difficult to countermand. Demand drafts can only be made payable to a specified party, also known as pay to order. But, cheques can also be made payable to the bearer. Demand drafts are orders of payment by a bank to another bank, whereas cheques are orders of payment from an account holder to the bank.

Definitions and regulations by region

In United States

Demands drafts are also known as sight drafts, as they are payable when presented by sight to the bank. Under UCC 3-104, a draft has been defined as a negotiable instrument in the form of an order. The person making the order is known as the drawer and the person specified in the order is called the drawee, as defined in the UCC 3-103. The party who creates the draft is called the maker and party who is order to pay is called the drawee.

This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Demand_draft

Latest News for: Demand draft

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The Daily Dot 23 Sep 2018

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Review meet at GHMC sees barbs traded over electoral roll revision

The Times of India 23 Sep 2018

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Cleveland Browns: Terry's Talkin' Baker, Ward, Josh Gordon -- Terry Pluto

Cleveland 23 Sep 2018

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Bemidji Pioneer 23 Sep 2018

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Danny Ainge eyes Celtics Jimmy Butler trade - NBA rumors and more

Metronews USA 23 Sep 2018

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Congress to focus on jobs, farmers in its 2019 election manifesto

Hindustan Times 23 Sep 2018

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Fair attendance 64,303 less than last year

The Grand Island Independent 22 Sep 2018

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Portuguese protests against eviction, rising rents

Xinhua 22 Sep 2018

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Institutions like SC, EC being 'systematically captured' by RSS: Rahul Gandhi

The Times of India 22 Sep 2018

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Institutions like SC, EC being #39;systematically captured#39; by RSS: Rahul Gandhi

Moneycontrol 22 Sep 2018

PTI @moneycontrolcom ... "(RSS chief) Mohan Bhagwat in his earlier speeches has said ... The Congress chief asserted that when it comes to the Indian education system, two things are non-negotiable -- teachers should be able to express and they should be given a vision for their own future.Gandhi said the Congress was commencing its work in drafting a manifesto and invited teachers to form a delegation and come forward with their demands ... ....

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Institutions like SC, EC being 'systematically captured' by RSS, alleges Rahul ...

Hindustan Times 22 Sep 2018

Gandhi alleged that the Rashtriya Swayamsevak Sangh’s vision of India is that of a “golden bird” which it views as a product.The product has to be monetised and utilised, and they will decide who will do this, the Congress chief said. india Updated. Sep 22, 2018 20.21 IST ... New Delhi ... --> ... Gandhi said the Congress was commencing its work in drafting a manifesto and invited teachers to form a delegation and come forward with their demands....

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Activists push for law to enforce Kannada signage in State

The Hindu 21 Sep 2018

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Regional 'burqa ban' up for vote in Switzerland

The News International 21 Sep 2018

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