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Glossary   >   P   >   "Payable through drafts" Definition            Payable through drafts A method of making payment that is used to maintain control over payments made on behalf of the firm by personnel in noncentral locations. The payers bank delivers the payable through draft to the payer, which must approve it and return it to the bank before payment can be received. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Payable through drafts - A method of making payment that is used to maintain control over payments made on behalf of the firm by personnel in noncentral locations. The payers bank delivers the payable through draft to the payer, which must approve it and return it to the bank before payment can be received.