Banker's Draft (Noun)
Meaning
A draft drawn by a bank against funds deposited in another bank.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company opted for a banker's draft to ensure secure payment for the international transaction.
- To confirm the sale, the buyer was required to provide a banker's draft within three working days.
- The real estate agent advised the client to use a banker's draft for the down payment on the house.
- The businessman arranged for a banker's draft to be issued by his bank in favor of the supplier.
- The exporter insisted on a banker's draft as payment for the shipment of goods overseas.