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Glite Dictionary
✏️ To rewrite 💸 A replacement check 🏈 A new team selection
redraft

redraft

8.6
A new bank check written for the original unpaid amount plus extra fees
  • noun
  • Specialized
translation icon : reembolso
  • International transactions sometimes require a redraft if the initial payment is dishonored.

Examples

  • The bank issued a redraft for the unpaid bill.

  • The bank issued a redraft to recover the unpaid sum and the additional fees.

  • After the original check bounced, a redraft was drawn for the total amount owing.

  • Did you receive the redraft from the bank?

  • The bank issued a redraft to cover the total amount owed after the first draft was dishonored.

  • To resolve the payment issue, the company sent a redraft that included the extra fees incurred.

  • After the initial payment failed, he received a redraft to pay off the original balance with added charges.

Surface Forms

redraft singular
redrafts plural

Morphology

redraft = draft (semi-transparent) = re + draft

The form 're-' + 'draft' (a draft issued again) is clear, but the specific banking sense (replacement after a dishonour with added charges) is domain-specific and not obvious to all learners.

Etymology

Redraft starts with re- meaning 'again' and draft meaning 'a bill or check'. So a redraft is a draft written 'again' to recover the unpaid amount plus any extra fees.