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

  • All intending bidders are required to deposit 10% of the fixed reserve price for the said property by Bank Draft or Cashier’s Order only in favour of HSBC BANK MALAYSIA BERHAD on the day of auction sale and the balance of the purchase money shall be paid by the Purchaser within ninety (90) days from the date of auction sale to HSBC BANK MALAYSIA BERHAD, failing which the deposit shall be forfeited by the Assignee/Bank at its absolute discretion.

  • Settlement of the balance purchase price: The balance of the purchase price is to be settled within ninety (90) days from the date of auction sale by Bank Draft or Cashier’s Order drawn in favour of Malayan Banking Berhad or by way of XXXXXX directly into the account of Malayan Banking Berhad.

  • Tender fee will be Non-refundable amount of Rupees One thousand (Rs. 1000/-) only and the tenderer shall deposit a separate Bank Draft in favor of "All India Institute of Medical Sciences, Jodhpur" along-with tender Document (Technical Bid).

  • Settlement of the balance purchase price: The balance of the purchase price is to be settled within ninety (90) days from the date of auction sale by Bank Draft or Cashier's Order drawn in favour of Malayan Banking Berhad or by way of XXXXXX directly into the account of Malayan Banking Berhad.

  • NEC Co-op Energy Automatic Bank Draft: NEC Co-op Energy Automatic Bank Draft makes sure your bill gets paid on time by directly debiting your bank account each month.

  • Security deposit is to paid either in cash or Bank Draft, in favor Uranium Corporation of India Limited, payable at State Bank Of India, Jaduguda Branch, Code No. 0227 alternatively security deposit will be recovered @ 10 % from each running bill till the full security deposit is recovered .

  • All intending bidders are required to deposit 10% of the fixed reserve price for the said property by Bank Draft or Cashier’s Order only in favour of HSBC AMANAH MALAYSIA BERHAD on the day of auction sale and the balance of the purchase money shall be paid by the Purchaser within ninety (90) days from the date of auction sale to HSBC AMANAH MALAYSIA BERHAD, failing which the deposit shall be forfeited by the Assignee/Bank at its absolute discretion.

  • Online bidders are further subject to the Terms & Conditions on xxx.xxxxxxxxxxxxxxxx.xxx All intending bidders are required to deposit 10% of the fixed reserve price by bank draft/ cashier’s order only in favour of RHB Bank Berhad prior to the auction sale with the under mentioned Auctioneer and the balance of the purchase price is to be settled within ninety (90) days from the date of auction to RHB Bank Berhad via Bank Draft / XXXXXX.

  • AND WHEREAS the Tenderer has requested UCIL to exempt them from payment of xxxxxxx money in Bank Draft and in lieu of the Tenderer depositing xxxxxxx money in Bank Draft UCIL has agreed to accept a Bank Guarantee for equivalent amount.

  • All intending bidders are required to deposit 10% of the fixed reserve price and any prevailing tax that may be imposed by the Government of Malaysia (if applicable) by Bank Draft or Cashier’s Order only in favour of PUBLIC BANK BERHAD by 5pm at least one (1) working day before auction date prior to the auction sale with the undermentioned Auctioneer.


More Definitions of Bank draft

Bank draft means a check drawn by one bank on another bank. Federal Reserve System § 210.2
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Bank draft. “Bank Draft” means an unconditional payment instrument drawn by a Bank
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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 which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.

  • Facility LC Application is defined in Section 2.19.3.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • 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 Lender or Underlying Issuer 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 Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

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

  • Letter of Credit Advance means an advance made by any Issuing Bank or any 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