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LSDefine

Simple English definitions for legal terms

documentary draft

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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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JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
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