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Tags: payment instruments, trading
Categories: Economics & Finance
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.
(source: http://legal-dictionary.thefreedictionary.com/draft)
Synonyms:
promissory note, bill of exchange
