Time Draft


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Related to Time Draft: sight draft

Time Draft

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.

Cross-references

Commercial Paper.

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References in periodicals archive ?
To expedite matters, a time draft collection procedure may be used where the draft is sent by the forfaiting bank to the buyer's bank along with the original shipping documents and instructions to release the documents once the draft has been accepted ("documents against acceptance") and, if necessary, avalized.
Time drafts are similar to sight drafts in that the procedure for getting the shipping documents and other paperwork to the customer through the banks is the same.
Currently live, utilizing three currencies and operating in 13 countries, the Electronic Time Drafts solution with print option activated is being used by almost 1,000 suppliers on more than 100 buyer programs.
The Ministry of Justice at the time drafted and passed an amendment to the judiciary law relocating the circuit to the Cairo Court of Appeals
Paul Cadmus (1904--1999), egg tempera on pressed wood panel, 1945, 1.5 X 1.25 inches Dancer Sprawled in tights On floorboards in a tiny Square of time drafted between Rehearsals near the end Of the war, the page After page he browses so Distracting from start To finish, the spine Of his book broken His shoulders exhausted Foreshortened by the score He has all morning bent His body to, the music's dark Harmonies without Remorse forcing his world in To step with its own, as No longer lithe, he removes Himself, gives in, pas A pas, to oblivion Reading himself beyond Men yet to return and others He loves who never shall The precise squares Of time he borrows So necessary So seldom spared.
1.5 x 1.25 inches Sprawled in tights On floorboards in the tiny Square of time drafted between Rehearsals near the end Of the war, page after page He browses something Distracting from the beginning Through, the spine Of the book broken His shoulder exhausted Foreshortened by the score He has all morning bent His body to, dark harmonies Forcing the world in To step with his own Without remorse He removes himself Gives in, pas A pas, to oblivion Reading himself beyond Men yet to return And others who never will The precise squares Of time he is Loaned so necessary So seldom spared.

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