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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Dewey Beach lawsuit

The Beacon 23 Feb 2019

After Plaintiff left the meeting he was confronted by the Town’s Audit Committee chairman Larry Silver (“Silver”) demanding he return the draft audit report he was given by Gieser ... Plaintiff was confronted by Silver while walking to his vehicle who demanded that he immediately return the public draft audit report....

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Microsoft Employees Demand Company End £370 Million Contract With US Army

Gizmodo 23 Feb 2019

Ahead of Sunday’s rumoured announcement of the HoloLens 2 headset at Mobile World Congress on Sunday, a group of concerned employees at Microsoft have begun circulating a letter demanding the august tech firm sever an augmented reality contract it won with the Army last year ... We demand that Microsoft.....

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What Is HoloLens? Microsoft Workers Ask Bosses To Drop Military Contract: 'Did Not Sign Up To Develop Weapons'

Newsweek 23 Feb 2019

In addition to pulling out of the major contract, workers have demanded that Microsoft cease development of "any and all weapons technologies" and draft a policy clarifying that commitment ... The group's letter reflects a broader trend of workers at major tech companies coming together to demand greater control over how their work is used....

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BCCI seeks support for its ‘keep-out Pak' stand

Yahoo Daily News 23 Feb 2019

The Committee of Administrators-led BCCI’s strong posturing in the initial draft letter to the International Cricket Council (ICC) demanding a ban on Pakistan from the World Cup fizzled out on Friday as the apex cricket body decided to tone down its protest....

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BCCI seeks support for its 'keep-out Pak' stand

Hindustan Times 23 Feb 2019

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Cons pose as customs officials, cheat man

The Times of India 23 Feb 2019

NOIDA. An MNC executive living in Sector 45 was allegedly duped of around Rs 1.6 lakh by some fraudsters who claimed to be a UK-based woman and customs department officials ... Despite the payment, the ‘official’ again called him and claimed that Sara was in possession of a demand draft worth £50,000 which needed to be registered ... Milaap ... Please save him....

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Midnight drama before Maharashtra farmers suspend 'long march'

International Business Times 22 Feb 2019

"They came with a draft, but we did not approve it. It did not include the assurances made in our meetings with the Chief Minister (Devendra Fadnavis) and the Ministers, so we demanded a modified draft. "After nearly four hours, the final draft was received from Mantralaya (Secretariat)," said Dhawale....

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2019 NFL Draft: Top QB prospect Dwayne Haskins will reportedly throw at the combine

CBS Sports 22 Feb 2019

The Giants are the favorites to draft a quarterback in April; they have the No ... (While we like Haskins a lot, and he's the safe pick, we'd still love to see the Giants draft Murray; imagine that offense with Murray under center, Saquon Barkley in the backfield, and Odell Beckham and Evan Engram running routes....

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Film actor Mahesh Babu-owned theatre returns GST profit

The Times of India 22 Feb 2019

HYDERABAD ... AMB cinemas submitted a letter and paid the money in the form of Demand draft ... ....

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CoA to decide today on whether India should play Pakistan in World Cup

The Economic Times 22 Feb 2019

The draft of the letter demands that Pakistan be banned from participating in the World Cup, else India will recuse itself from the match with Pakistan on June 16 ... ....

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Beggar's savings of ₹6.6 lakh donated to families of CRPF soldiers

The Hindu 22 Feb 2019

... on Thursday submitted a demand draft in the name of Chief Minister Relief Fund in Ajmer....

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Jordy Nelson on criticism of Packers' Aaron Rodgers: ‘The same people’ saying ‘the same stuff’

Cherokee County Herald 22 Feb 2019

Finley has criticized Rodgers frequently in recent years, but while doing interviews on Radio Row during Super Bowl week, Finley said Rodgers has “a trust issue” with teammates and suggested Rodgers is too demanding of his offensive counterparts ... Hockenson could be highest-drafted tight end in years....

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CoA to take call today on whether India should play Pakistan in World Cup

The Times of India 22 Feb 2019

MUMBAI ... TOI had reported on Thursday + that the CoA has drafted a letter addressed to ICC chief Shashank Manohar, expressing concerns over playing against Pakistan ... The draft of the letter demands that Pakistan be banned from participating in the World Cup, else India will recuse itself from the match with Pakistan on June 16 ... But that’s a long shot ... ....