Foreign drafts are generally used to send money to a foreign country. This method is cheaper and safer than sending the currency itself. It also enables the receiver to access the funds quicker than if a draft or check were written in U.S. currency. Further, it is less expensive and requires less information (such as the routing transit number) on the purchasers part than a wire transfer.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
foreign draft — noun a bill of exchange that is drawn in one country and made payable in another • Syn: ↑foreign bill • Hypernyms: ↑draft, ↑bill of exchange, ↑order of payment * * * foreign bill or foreign draft noun A bill or draft payable in … Useful english dictionary
foreign bill — noun a bill of exchange that is drawn in one country and made payable in another • Syn: ↑foreign draft • Hypernyms: ↑draft, ↑bill of exchange, ↑order of payment … Useful english dictionary
Draft blunder — is a term most commonly used in association with a phenomenon that occurs in the four major sports leagues of North America: the NFL, NHL, NBA and MLB. These four sports leagues represent the sports of American Football, Ice Hockey, Basketball… … Wikipedia
Foreign relations of Tajikistan — are based on a desire to secure foreign investment and promote regional security while ensuring Tajikistan s independence. Hamrokhon Zarifi is the Foreign Minister of Tajikistan. [http://www.rferl.org/featuresarticle/2007/4/F2CC94E9 3AEC 41E6… … Wikipedia
Foreign Business Act of 1999 (Thailand) — The Foreign Business Act was a law enacted by the Chuan Leekpai controlled National Legislative Assembly of Thailand in 1999 that limited foreign ownership of certain Thai industries. It s predecessor was the Alien Business Act of 1972, enacted… … Wikipedia
Foreign trade of the Soviet Union — Soviet foreign trade played only a minor role in the Soviet economy. In 1985, for example, exports and imports each accounted for only 4 percent of the Soviet gross national product. The Soviet Union maintained this low level because it could… … Wikipedia
Draft Ron Paul movement — Congressman Ron Paul. The Draft Ron Paul movement refers to any of several grassroots efforts to convince United States Congressman Ron Paul of Texas to run for particular office, often president of the United States, as in the 2008 and … Wikipedia
Foreign relations of Pakistan — Pakistan is the second largest Muslim country in terms of population (behind Indonesia), and its status as a declared nuclear power, being the only Islamic nation to have that status, plays a part in its international role. Pakistan is also an… … Wikipedia
Foreign policy of the Bill Clinton administration — Clinton embraces British Prime Minister Tony Blair … Wikipedia
Foreign policy of the Clinton Administration — The Foreign policy of the Clinton Administration was the foreign policy of the United States from 1993 to 2001 under President of the United States Bill Clinton during his Administration. Clinton s main foreign policy advisors were Secretaries of … Wikipedia