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.
Despite the fact that the draft legislation was eventually withdrawn on May 2, demonstrations continued with demands to reject a health reform project, demilitarize the country, fulfill the peace agreement, and dismantle criminal organizations ... ....
The law demanded the publishing of a new city plan and the drafting of that plan allowed us a chance to fit all the jigsaw pieces together to give us a whole that we could then promote as the biggest series of opportunities for the city for over a century.
Tim Walz’s. was drafted to meet the increased demand and interest for getting outdoors during the ongoing COVID-19 pandemic. So says DNRCommissionerSarah Strommen ... Based on published reports, ... Without additional funds, the quality of services will suffer at a time when demands on the state’s outdoor offerings have never been higher ... .
... on the way to deal with the issue and address the parents who demand answers and feedback today ... "Some concerned parents drafted a memorandum of demands to the principal and set a deadline but the principal ignored the deadlines and answered after hearing we are now after her.".
Kolb said she was deeply concerned about a draft board policy to implement a law that allows guns on campus, and she said it’s inevitable that a person will be harmed as a result ...Rogers said the Board would consider the Constitutional question separately and requested members of the public comment on the draft policy.
Although most (92%) organizations surveyed are trying to transform their handling of contracts, the majority of respondents are struggling in the face of significant obstacles ... Sixty-nine percent of organizations do not require staff to use a template when drafting contracts, and the same percentage do not demand adherence to any rules or guidance ... .
The Patriots were rumored to be looking to trade up for one of the top quarterbacks in the draft, but they didn't end up needing to as Alabama's Mac Jones fell to them at No ... The Tom Brady comp is obvious for Jones, and everyone has been making it on draft night ... NFLDraft QB Prospects.
Hari could have been a character out of a spoof ... “There are two reasons ... Bengaluru case ... Hari allegedly handed him a forged demand draft for Rs 360 crore, said to be the loan the businessman had sought, and demanded Rs 7.2 crore as commission ... Hari threatened him with dire consequences when he demanded his money back,” says an investigator ... Hari Nadar.
... be accustomed to, to enable us to demand them from the State ... "The NCCE is working on a draft for onward submission to Parliament that will demand that the GhanaEducationService allows Civic Education to be included in the schools' curriculum and be taught at schools," she said.
Davante Adams is keeping busy this offseason ... Adams is hoping to build off of a 2020 campaign that saw him earn All-Pro honors while leading the NFL with 18 touchdown receptions ... "Being able to overcome obstacles and to demand the most out of yourself is a quality that everyone needs to be successful.". Our Latest Stories. NFCNorth draft reset ... .
More On.. new york knicks ...Knicks coach backs up Julius Randle ... Randle spent one season in New Orleans in 2018-19 – a rocky one ruined when Davis demanded a trade midseason. It’s probably another reason Randle always gets up to face the Lakers, who drafted him in the 2013 lottery but didn’t re-sign him in 2018 when James came over from Cleveland.
I am a billionaire paying people extremely well to make football decisions, and even more money to my players — who are employed to perform, not to run the draft, how we should operate, or what we're having for dinner ... So what? Did Tom demand the Bucs not draft a quarterback (replacement?) Kyle Trask? Besides, he's Tom Brady.
UNITED NATIONS -- The U.N ... Nakamitsu, the U.N ... The chemical weapons group's Executive Council responded by demanding that Syria provide details. When it didn't, France submitted a draft measure on behalf of 46 countries in November to suspend Syria's "rights and privileges" in the global watchdog ...U.S ... .
The bland admission that political censorship was being imposed—contrary to the demands of military security—set off bitter recriminations ... A petition was drafted excoriating me in language worthy of the frenzy of the assembly and demanding that the Associated Press be forbidden to report news for a punitive period.