draft on demand的意思|示意

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English words have a variety of usage in many different contexts. Draft on demand is one of these words and is used primarily in finance.

Draft on demand refers to a document that a bank or financial institution can draw up based on the request of a customer. This type of draft is an irrevocable payment order that is valid for a limited time period, usually 60 to 90 days. A customer may make a draft on demand because it is a way to guarantee payment from a third party, typically someone from whom the customer is buying goods or services.

The seller of the goods or services can present the draft on demand to their bank or financial institution and be guaranteed payment. The customer who has requested the draft is required to fill out certain documents to accept the terms and conditions of the draft on demand. The requesting customer is also responsible for any fees associated with the draft.

Draft on demand can also be used for the refunding of customers. If a customer has a dispute with a vendor, the vendor can issue a draft on demand to the third party, usually a bank, to guarantee the customer's refund. If a customer is unhappy with their purchase, they can present the draft on demand to their bank to cover the cost of the refund.

Overall, draft on demand is primarily used in certain financial transactions to guarantee payment or refunds. This document is an irrevocable payment order that is typically valid for a limited period of time. The customer who initiated the request for a draft is responsible for any associated fees, as well as documents required to accept the terms and conditions of the draft on demand.