Home > Term: Documentary draught
Documentary draught
A draught drawn by the seller on the buyer and accepted by the latter in connexion with a documentary collection. If the draught contains the notation D/A (documents against acceptance) the documents are handed over upon acceptance of the draft. If it is marked D/P (documents against payment), they are handed over only after the acceptance has been paid. See also draft.
- Part of Speech: noun
- Industry/Domain: Banking
- Category: Investment banking
- Company: UBS
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Creator
- Harry8L
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(London, United Kingdom)