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Time Draft

   Also found in: Dictionary/thesaurus, Financial 0.01 sec.

A written order to pay a certain sum in money that is payable at a particular future date.

Time drafts, sometimes called time bills or time loans, are frequently used by merchants to finance the transportation of goods.

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Commercial Paper.
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Time draft is a demand for payment on a specified future date--comprising banker's acceptance, bill and sight draft.
Glossary of keybanking terminology by African Business
One of the cheapest methods of payment is to sell on an open-account basis: The exporter sends shipping documents directly to the importer who pays the exporter, either upon arrival of the goods documents against payment (D/P), or on an agreed date thereafter - documents against acceptance of time drafts (D/A).
International trade finance by De Georgio, Emmanuelle Moors / African Business
 
 
 
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