time draft
- noun
- Specialized
:
letra de cambio a plazo
- The exporter received a time draft that would mature in 60 days.
Examples
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A time draft gives the buyer additional time to make payment after receiving goods.
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Banks often charge a fee for processing a time draft.
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The bank issued a time draft for the loan.
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Have you ever received a time draft?
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A time draft allows the seller to collect payment at a later date, which can help with cash flow.
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The company utilized a time draft to facilitate payment for their international shipment.
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After reviewing the terms, the buyer agreed to a time draft that was due in three months.
Synonyms
A written order to pay money on a fixed future date
How Long
- Specialized
- Formal
1
8.9
Surface Forms
Morphology
The noun compound is directly compositional: 'time' qualifies 'draft' to indicate a draft involving a specified time/temporal condition (i.e., payable at a future date). This modifier+head pattern is a standard English formation and would be understandable to a B1 learner who knows both constituent meanings, even if the term is somewhat technical.
Etymology
Time draft comes from a paper order called a draft and the word time shows the payment is set for a future date, so picture a paper stamped with a calendar day telling you when to pay. So a time draft means 'payable on a specific future date'.