- Draft
- An unconventional order in writing - signed by a person, usually the exporter, and addressed to the importer - ordering the importer or the importer's agent to pay, on demand ( sight draft) or at a fixed future date ( time draft), the amount specified on its face. The New York Times Financial Glossary
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a document or piece of writing that has to be checked and possibly changed, and so is not yet in its finished form:• This is only a rough draft of the letter.
• When can I have the first draft of your proposal?
• a draft report, which the Committee has read and considered in detail.
exˈposure ˌdraft ACCOUNTINGa document distributed by the financial which suggests a change in the accounting rules. People who are affected by the rules are asked to comment on the exposure draft before it becomes law — see also bank draftto write a letter, report etc that will need to be changed before it is in its finished form:• I'll ask our contracts department to draft an agreement.
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Ⅰ.draft UK US /drɑːft/ US /dræft/ noun [C]► a piece of writing such as a letter, report, or speech that may not be in its final form and may have changes made to it: »a rough/early/preliminary draft
a first/second draft »She asked me to check the first draft of her proposal.
»the final/latest draft
write/produce/prepare a draft »A draft of the constitution has been prepared for discussion.
»The original draft of the resolution was much more strongly worded.
► BANKING a written order for money to be paid by a bank, especially to another bank: »When products are imported, they have to be paid for, often with a draft on the buyer's bank.
»The money should be transferred by draft rather than electronically.
→ See also BANK DRAFT(Cf. ↑bank draft), BANKER'S DRAFT(Cf. ↑banker's draft), EXPOSURE DRAFT(Cf. ↑exposure draft), SIGHT DRAFT(Cf. ↑sight draft)Ⅱ.draft UK US /drɑːft/ US /dræft/ verb [T]► to write something such as a letter, speech, or report in a form that may have changes made to it: »draft a proposal/plan/report
»draft a letter/speech
»draft a bill/law/constitution
Ⅲ.draft UK US /drɑːft/ US /dræft/ adjective [before noun]► a draft plan, document, etc. is not in its final form, and may have changes made to it: »a draft plan/bill/proposal
»draft legislation/regulations
Financial and business terms. 2012.
