Draft

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Draft

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.

draft

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)

References in periodicals archive ?
Installation view of "The Sistine Ceiling" gallery, Michelangelo: Divine Draftsman & Designer at The Metropolitan Museum of Art, New York, November 13, 2017-February 12, 2018.
Now in his final year at college, he is working as an apprentice draftsman with Motherwell firm MB Aerospace to help develop his career.
The draftsman hopes to see it adopted before the summer and put to the plenary in November.
Founded not upon what he failed to finish, but rather based upon the infinite fertility of his mind and hand, his drawings are seen in Leonardo da Vinci: Master Draftsman to be the greatest graphic opera omnia ever "written."
He has not limited Greuze the Draftsman to the sketch studies of the artist's final paintings (Greuze obsessed over his studies), but also included the gray ink wash and black chalk after-models Greuze composed as studies for his engravers.
Plus the Air Force told him he could be a draftsman, his lifelong wish.
It would have been enough for it to be a plan, scribbled down as an instruction to the draftsman or communicated by phone or on a tape, and so need no more resemble the set of its embodiments than a set of scrubbed floors need resemble the injunction "Scrub the floors!" Neither must the transcriptions resemble one another, as long as they comply with the plan.
In the same family and by ranking upon leaving the Ecole Speciale Schneider, two brothers could have quite different appearances, the draftsman of the |First' in bourgeois garb and the turner of the |Third' in working-class dress, carrying his dirty |blues' under his arm Saturday evening.
The health-care reform plan expected to emerge from the White House will be the equivalent of a draftsman's model: an untested conceptual blueprint.
In Hawaii, where the local chapter of the American Institute of Architects counts only 7 percent of its 900 members as women, it's no small feat that Carol Sakata has risen from draftsman to name partner.
Pugin, whose father, Augustus Charles Pugin (1762 - 1832), was also an architectural draftsman and writer on Gothic architecture, was the most prominent theorist of the great Gothic Revival in England in the first half of the 19th century.
Two horticulture officers BS-16 has been promoted as Assistant Director Environment (BS-17), 10 horticulture assistants (BS-14) were promoted as horticulture officers (BS-16) while 11 Divisional Head Draftsman/ Junior Architect (BS-14) has been promoted as Circle Head Draftsman / Senior Architect during the DPCs conducted on Wednesday.