Bank Draft

From LawDepot Law Library

Definition of "Bank Draft"

A bank draft is a check written by one bank on its account with another bank. A bank draft is an extremely secure (safe)method of transferring funds. A bank draft is more secure than a certified check because a bank draft can not have its payment stopped while a certified check can be stopped in limited circumstances.

"Bank Draft" is referred to in the following legal documents:

Assignment

Bill of Sale

Purchase Agreement

Waiver