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Simple English definitions for legal terms

documentary draft

Read a random definition: most-favored-nation clause

A quick definition of documentary draft:

A documentary draft is a written order that tells someone to pay a certain amount of money to another person or to a group. It can be used for things like buying goods or paying bills. The person who writes the order is called the drawer, and the person who has to pay is called the drawee. The order can be conditional, which means it only gets paid if certain documents are presented. There are different types of drafts, like a sight draft that gets paid right away or a time draft that has a specific payment date. Sometimes, people use the word "draft" to talk about when the government makes people join the military.

A more thorough explanation:

A documentary draft is a type of payment demand that is conditioned on the presentation of a specific document, such as an invoice, certificate, or notice of default. It 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.

For example, if a company orders goods from another country, the seller may require a documentary draft to ensure payment. The seller will not release the goods until the buyer presents the required documents and pays the specified amount.

Another example is a letter of credit, which is a type of documentary draft used in international trade. A bank issues a letter of credit on behalf of the buyer, guaranteeing payment to the seller once the required documents are presented.

Overall, a documentary draft is a payment method that provides security for both the buyer and seller by ensuring that payment is made only when the required documents are presented.

documentary credit | documentary instruction

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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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