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 ?
At the end of the rough copy, the final stanza entrenches what the
(87) In his first attempt, as preserved in the rough copy, Bellenden misses the secondary sense of lapis, lapidem, that is 'milestone', and translates the phrase as a place name: 'The ennimess [...] come to ane place namyt be thrid stane in the gabyne [w]ay'.
Elsewhere on the bill for the show, which takes place at Coventry Airport, are The X Factor finalists Rough Copy and Britain's Got Talent favourites Old Men Grooving.
*Damage will be supported in Newcastle by X Factor 2013 contestants Rough Copy. Tickets are still available from the box office and online from ticketweb.
X Factor contestants Jack Walton and Rough Copy joined Britain's Got Talent's Gabz and Olympic medallist Sarah Stevenson to highlight the work of young fundraisers at the ceremony.
This time last year, the likes of Kingsland Road, Rough Copy and eventual winner Sam Bailey were about to embark on a 10-week trial by TV as they aimed to win over the public, so it'll be intriguing to see how the latest 12 cope with life in the spotlight.
Big Reunion stars Damage as well as Rough Copy, Tich, The Parades and Hollywood Ending also entertained the masses, as did Only Men Aloud, Connie Fisher and another former X Factor contestant Lucie Jones and 57 Chevy.
She will headline alongside British boyband Union J and Big Reunion stars Damage as well as Rough Copy, Tich, The Parades and Hollywood Ending.
Kazeem Ajobe from band Rough Copy had also past conflicts with authorities but was allowed to compete.
The other morning he took a selfie of himself eating a kebab for his breakfast (vile boy) and out comes his mobile phone once again when we have guests in the studio, like X Factor boy band Rough Copy (below).
X FACTOR boyband Rough Copy chatting to fans outside the Radio City tower ?