Question

definition of demand draft

Answer 1

Demand Draft (also known as DD) is a pre-paid negotiable instrument, wherein the Bank by whom the Demand Draft has been made undertakes the responsibility to make full payment whenever the Instrument is presented for payment. In order to obtain the payment, the beneficiary either has to deposit the same in his Bank Account or get the same collected through the Branch who has made the DD.

Answer 2

specifically a financial draft payable on demand as an impact.