A bank draft is one which is drawn on or accepted by a bank.
We hereby engage with drawers and / or bona fide holder that drafts drawn and negotiated on presentation and that drafts accepted within the terms of this credit will be duly honoured at maturity.
The buyers shall duly make the payment against documentary draft made out to the buyers at sight by the sellers.
The acceptor or payer has been declared bankrupt according to law or whose business operations have been suspended due to violations of the law.
In refusing the presentation for acceptance or for payment by the holder, the acceptor or payer shall produce certificates of dishonour or the statement on the ground for protest.
我同函寄上由AxBridge的布莱克先生付款、见票后30日付款的面额为50美元汇票一张,请向付款人提出后请其承兑, 并予保管, 到期请将金额给我汇来不胜感激
I take liberty to trouble you with the enclosed draft for $50, at thirty days' sight, on Mr. Black of Axbridge, which I shall be obliged by your getting accepted, and retaining in your possession until due, at which time you can remit me the amount.
In applying those provisions, the maker of a note shall be deemed to correspond with the acceptor of a bill, and the first indorser of a note shall be deemed to correspond with the drawer of an accepted bill payable to drawer's order.
In the absence of such specific instructions, the Banks concerned with the collection have no obligation to have the document(s) protested (or subjected to other legal process in lieu thereof) for non-payment or non-acceptance.
Nevertheless, in the event that goods are dispatched directly to the address of a bank without prior agreement on the part of that bank, such bank shall have no obligation to take delivery of the goods, which remain at the risk and responsibility of the party dispatching the goods.
No person is liable as drawer, indorser, or acceptor of a bill who has not signed it as such: Provided that--where a person signs a bill in a trade or assumed name, he is liable thereon as if he had signed it in his own name;