20:49
THATS SO FUNNY
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
clean draft
Read a random definition: reconduction
A quick definition of clean draft:
A clean draft is a written order that tells one person to pay a certain amount of money to another person. It's like a check that you write to pay for something. There are different types of drafts, like a demand draft that you can get your money right away, or a time draft that you have to wait until a certain date to get your money. A clean draft doesn't have any extra papers attached to it. Sometimes, people are forced to join the military through a draft. To draft also means to write or choose someone for a job or task.A more thorough explanation:
Definition: A clean draft is a type of draft that does not have any shipping documents attached to it. A draft is an unconditional written order signed by one person (the drawer) directing another person (the drawee or payor) to pay a certain sum of money on demand or at a definite time to a third person (the payee) or to bearer. A check is the most common example of a draft.
Example: A company in the United States wants to purchase goods from a supplier in China. The supplier sends a clean draft to the company, which the company can then use to pay for the goods. The clean draft does not have any shipping documents attached to it, which means that the company can use it to pay for the goods without having to provide any additional documentation.
Explanation: The example illustrates how a clean draft can be used in international trade to pay for goods. By using a clean draft, the company can pay for the goods without having to provide any additional documentation, which can make the payment process faster and more efficient.