Draft 02
Draft 02 : (1) Depth of water required for a vessel to float clear of the bottom. The vertical distance from the waterline to the lowest part of a vessel. (2) A financial instrument to transfer money: (a) The Buyer's payment for goods through a bank in a cargo sales transaction. See: Commercial Set. (b) Bank Draft - A payment order to a bank. See: Bank Draft. (c) Sight Draft - A payment order payable upon presentation, i.e. sighting
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