Question

what is demand draft ​

Answer 1

Answer:

• a financial draft payable on demand.

• A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client, directing another bank or one of its own branches to pay a certain sum to the specified party. A demand draft can also be compared to a cheque. However, demand drafts are difficult to countermand.

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Answer 2

Demand Draft

A demand draft is a negotiable instrument similar to a bill of exchange.

A bank issues a demand draft to a client, directing another bank or one of its own branches to pay a certain sum to the specified party.

A demand draft can also be compared to a cheque.

However, demand drafts are difficult to countermand.