1.Draft: a written order from one party（the drawer）to another（the drawee）to pay a party identified on the order（payee）or to the bearer a specified sum, either on demand（sight draft）or on a specified date（time draft）.
3.Article 19 A bill of exchange is a negotiable instrument, signed and issued by the drawer, who authorizes the drawee to pay unconditionally a sum certain in money to the payee or the holder at sight or on a specified date.
4.A draft or bill of exchange is an unconditional order in writing signed by one party (drawer) requesting a second party (drawee/payer) to make payment in lawful money immediately or at a determined future time to a third party (payee).
