Bank draft definition

Bank draft means a check drawn by one bank on another bank.
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Bank draft means a check, draft, or similar instrument on which a banking or financial organization is directly liable.
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Bank draft means a cheque drawn by one financial institution against funds deposited into its account at another financial institution, authorizing the second financial institution to make payment to the individual named in the Bank Draft.
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Examples of Bank draft in a sentence

  • The purchaser has to pay balance payment within 20 days from the date of notification of acceptance, which is to be issued by SPMCIL or his authorized representative, in form of Bank draft drawn on any nationalized or recognized bank in favor of same authority as mentioned above.

  • Deposit account) maintained at SBI, Dispur Branch (IFSC code-SBIN0003030) through Bank draft or Bankers Cheque in favour of The Assistant General Manager(premises & Estate) within a period of 15 days of acceptance of tender.

  • Deposit account) maintained at SBI, Dispur Branch (IFSC code-SBIN0003030) through SBI Bank draft or Bankers Cheque in favour of The Assistant General Manager(premises & Estate) within a period of 15 days of acceptance of tender.

  • The purchaser has to pay balance payment within 20 days from the date of notification of acceptance, which is to be issued by BNPM or his authorized representative, in form of Bank draft drawn on any nationalized or recognized bank in favour of same authority as mentioned above.

  • The SO shall be deposited in the form of bank draft/pay order, drawn on any nationalized or recognized bank in favour of same officer as mentioned in clause 3 of NIT in connection with EMD.54.4.2 The purchaser has to pay balance payment within 20 days from the date of notification of acceptance, which is to be issued by BNPM or his authorized representative, in form of Bank draft drawn on any nationalized or recognized bank in favour of same authority as mentioned above.

  • The successful Bidder will have to submit a sum equivalent to 2% of contract value less EMD to be deposited through SBI Bank draft or Bankers Cheque in favour of The Regional Manager, Patna East(I) within a period of 07 days of acceptance of tender.

  • The successful Bidder will have to submit a sum equivalent to 2% of contract value less EMD to be deposited through SBI Bank draft or Bankers Cheque in favour of The Regional Manager, Patna East(I)within a period of 07 days of acceptance of tender.

  • Tenders not accompanied with EMD as specified above shall be liable for rejection.(N.B.: - Bank draft / Pay orders or Banker’s cheque from any Scheduled Bank in favour of District Project Coordinator, shall not be considered as EMD).

  • Bank draft shall be issued by a bank licensed to operate in Malaysia.

  • Or Certified cheque, Bank draft or Letter of Credit in favour of Office of The Executive Engineer, Xxxxxx Xxxxx Xxxxxx Xxxxxxxxx, SWaRA Bhawan Link Xxxx xx-0,Xxxxx Xxxxxxxxx Department, Bhopal (M.


More Definitions of Bank draft

Bank draft. “Bank Draft” means an unconditional payment instrument drawn by a Bank
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Bank draft means a check drawn by one bank on another bank. Federal Reserve System § 210.2
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Bank draft means a cheque drawn by a licensed credit or financial institution, on itself or on another drawee institution;
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Related to Bank draft

  • Commercial Letter of Credit means any Letter of Credit issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Loan Party in the ordinary course of business of such Loan Party.

  • Facility LC Application is defined in Section 2.19.3.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Drawing means the drawing or drawings specified in or annexed to the Specifications;

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Limit means $5,000,000.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • LOC means the entity awarded the Championships and entering into this Agreement, having executed the Attached Bid.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the "Family Golf Centers, Inc. Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.02(b) and 2.10(a) and (c).

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Letter of Credit Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility