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A written order by the first party, called the drawer, instructing a second party, called the drawee (such as a bank), to pay money to a third party, called the payee. An order to pay a sum certain in money, signed by a drawer, payable on demand or at a definite time, to order or bearer.

A tentative, provisional, or preparatory writing out of any document (as a will, contract, lease, and so on) for purposes of discussion and correction, which is afterward to be prepared in its final form.

Compulsory Conscription of persons into military service.

Also, a small arbitrary deduction or allowance made to a merchant or importer, in the case of goods sold by weight or taxable by weight, to cover possible loss of weight in handling or from differences in scales.

A draft that is payable on demand is called a sight draft because the drawee must comply with its terms of payment when it is presented, in his or her sight or presence, by the payee. In contrast, a time draft is one that is payable only on the date specified on its face or thereafter.

A draft may be payable to a designated payee or to the bearer—the person who has possession of the draft at the time it is presented to the drawee for payment—pursuant to the drawer's directions.

A draft is sometimes synonymous with a bill of exchange, Commercial Paper, or negotiable instrument.


1) n. a bill of exchange or check in which one party (including a bank) is directed by the party drafting (writing) the bill or check to take money from the drafter's (writer's) bank account and pay it to another person or entity. 2) v. to prepare and sign a bill of exchange or check. 3) n. a less than final document, which is ready for discussion, re-writing and/or editing, such as a book, a proposal, or a legislative bill. 4) n. compulsory enrollment of non-volunteers for military service by lottery, as existed under the Selective Service System during World War I, from 1940 as World War II threatened to involve the United States, through the Korean and Vietnam conflicts until 1973. Since 1980 all men are required to register at 18, but there is no draft or call-ups. (See; bill of exchange, check)


noun acceptance bill, bank check, bank note, bank paper, bill, bill of exchange, cashier's check, check, commercial paper, debenture, letter of credit, lettre de change, money order, negotiable instrument, negotiable paper, note, order, order for payment, promissory note, voucher, warrant
Associated concepts: bill of exchange, check, overdraft, sight draft
See also: bill, blueprint, check, coerce, compel, compose, conceive, contrive, course, delineate, design, direction, document, enroll, formulate, frame, instrument, invent, make, nominate, note, originate, pattern, plan, program, proposal, recruit, require, select, suggestion
References in periodicals archive ?
Ht/Wt: 6-5/195 lbs Position:SG Drafted From:Florida Class:Freshman
Paddy Power - quarterbacks drafted in first round: 3-10 under 3.
Another result of the new deadline is it effectively eliminates the longstanding practice of ``drafting and following'' -- where a player is drafted only to secure signing rights with no intention of signing him immediately.
Ariza, then a freshman, was drafted by the New York Knicks in the second round and played 17 minutes a game, considerable playing time for a rookie with little fanfare.
But only 43,000--less than a quarter of those found fit-- were actually drafted.
Storyline: Drafted by the Chicago White Sox in 2002, he was traded to the Diamondbacks a year later.
Nasdaq:MAGZ) today announced that its football agency has signed eight college players who are eligible for the April 2001 NFL draft, including two players expected to be drafted in the first round -- Gerard Warren, University of Florida's defensive tackle, and Rod Gardner, Clemson University's wide receiver.
His story: A defensive catcher drafted in the 24th round of the 2001 draft, Avlas has a plus arm according to scouts, meaning his 1.
Since being drafted by Dallas Burn in the fifth round of the 1996 MLS draft, Kreis has blossomed into the Burn's all-time career leader in points (130), goals (48), assists (34) and games played (125).
You expect or hope that rookies will contribute right away (in the NFL),'' said Whitsitt, who drafted Shawn Kemp for the Sonics and Jermaine O'Neal for the Blazers, neither of whom played beyond high school but developed into all-stars.
Cornerback Mark Roman, LSU, was drafted as the third player in the second round by the Cincinnati Bengals (34th pick overall); wide receiver Todd Pinkston, S.