Business, Legal & Accounting Glossary
In situations where a person owes money to a creditor, and the creditor is not prepared to accept a personal cheque because he thinks it might bounce, a banker’s draft can provide a solution. It is simply a cheque made out to the creditor by the debtor’s bank, and in the eyes of the creditor is much more secure.
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This glossary post was last updated: 26th April, 2020 | 0 Views.