PAYABLE THROUGH DRAFTS


Meaning of PAYABLE THROUGH DRAFTS in English

A method of making payment that is used to maintain control over payments made on behalf of the firm by personnel in noncentral locations. The payer's bank delivers the payable through draft to the payer, which must approve it and return it to the bank before payment can be received.

Campbell R. Harvey. Hypertextual finance English glossary.      Английский словарь гипертекстовых финансов.