Bank Draft Sample Clauses

A Bank Draft clause defines the use and acceptance of bank drafts as a method of payment within a contract. It typically specifies that payments must be made using a bank draft, which is a payment instrument issued by a bank guaranteeing the amount to the payee, and may outline procedures for delivery, timing, and verification of the draft. This clause ensures secure and reliable transfer of funds, reducing the risk of non-payment or fraud for the receiving party.