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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Netcare cries foul over Discovery executive’s involvement in market inquiry

Business Day 11 Dec 2018

It is a sensitive issue, because supplier-induced demand leads to overservicing and drives up costs. Netcare said it was concerned by the fact that the report’s chapter on supplier-induced demand had been drafted by Neil Soderlund, who heads a joint venture between Discovery Health and Quantium called Quantium Health Outcomes....

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Call to make CNIC process more easier

The News International 11 Dec 2018

These women drafted a charter of demands which they presented to policy makers and women parliamentarians on second day of this convention ... These women drafted a charter of demands which they presented to policy makers and women parliamentarians on second day of this convention....

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McConnell to bring up criminal-justice bill for a Senate vote

The Jamestown Sun 11 Dec 2018

But several revisions to the initial draft, which was released shortly before Thanksgiving, that had been approved by several law-enforcement groups and demanded by influential GOP senators has slowly won over once-hesitant Republican senators ... Asked when the final draft will be released, Durbin sighed and said....

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Eugenics victims blast proposed relief bill as ‘meaningless’

Asahi News 11 Dec 2018

An outline of the bill integrated draft proposals of the ruling coalition’s working group and a nonpartisan group of lawmakers during their meeting on Dec. 10 ... The wording drew anger ... The plaintiff has also demanded that the government send notices to individual victims after they are identified as such. But this was not incorporated in the draft bill....

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Bulls Mutiny, Suns Misery, and the Power of Bad Ownership in the NBA

Sports Illustrated 11 Dec 2018

Two years ago, the same night they traded Jimmy Butler and settled on a "new direction" to rebuild, the Bulls sold the 34th pick in the draft for $3.5 million from the Warriors ... Six months after the draft, Bledsoe demanded a trade with his "I don't want to be here" tweet....

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IGNOU OPENMAT 2018 results declared, check here

Indian Express 11 Dec 2018

IGNOU OPENMAT 2019. The result for the MBA and management entrance exam – OPENMAT – conducted by the Indira Gandhi National Open University (IGNOU) has been released on the official website – ignou.ac.in. Candidates who had appeared for the exam can check their results. Advertising ... Step 1 ... 00.45 ... Demand draft for Rs 1800 (per course) in favour of IGNOU....

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Chinese-built Halogaland Bridge becomes landmark in Northern Europe

Market Watch 11 Dec 2018

CHENGDU, China, Dec ... (SRBG), was officially opened to traffic ... The wind speed in the Arctic Circle can reach 130 kilometers per hour, which places an enormous demand on the ability of the bridge to withstand wind ... According to Norwegian Law, all bidding documents must be drafted in Norwegian -- a language not in popular demand in China ... (SRBG)....

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Newsstands face battle amid changing times

China Daily 10 Dec 2018

Due to falling demand for newspapers and magazines, newsstands in many cities have been closing ... According to the Beijing Municipal Commission of City Management, the city's newsstands will be better located based on passenger flow, the number of people living in nearby residential communities, and public demand....

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CTET 2018 exam concludes, answer key expected soon @ctet.nic.in

The Times of India 10 Dec 2018

NEW DELHI ... The test was conducted in twenty languages in 92 cities all over the country ... APPLICABILITY ... A candidate can get a duplicate copy of Marks Statement or Eligibility Certificate by paying the prescribed fees by way of Demand Draft in favour of Secretary, Central Board of Secondary Education drawn on any nationalized bank, payable at Delhi ... ....

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The Coal Mine Next Door

Human Rights 10 Dec 2018

According to Hendryx and other West Virginia University scientists involved in the studies, a coal mining company twice invoked the Freedom of Information Act (FOIA) to demand Hendryx and other researchers produce all their emails, notes, drafts, data sets, and interview questions relating to several studies they published....

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Gurgaon man who appeared on KBC gets Rs 50 lakh for his old-age home from Amitabh Bachchan

The Times of India 09 Dec 2018

After getting the promised money in the form of demand drafts, Kalra says, “Bachchan ji had said that he would help me in any way he could, and last week, he donated Rs50 lakh on behalf of himself and his entire family ... Amitabh Bachchan wrote to Ravi Kalra and sent his contribution in the form of demand drafts of Rs 50 lakh. ....

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Gurgaon man who appeared on KBC gets Rs 50 lakh for his old-age home from ...

The Times of India 09 Dec 2018

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Blair Kinghorn relishes ‘brilliant result’ over Newcastle

Scotsman 09 Dec 2018

“[They were] horrible conditions out there really. The pack really fronted up and gave us a great platform to attack from ... The rules are there for a reason and you can imagine a scenario where the flexibility that Richards demanded of EPCR was abused to draft in a stronger player who had, perhaps, recovered from injury quicker than expected ... ....