A time draft is payable at a definite future time.

Name: A time draft is payable at a definite future time.
Brand: Quizplus
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Quizplus · Accepted Answer

A time draft is a type of bill of exchange that is payable at a definite future time, usually after a specified period of time has elapsed, such as 30, 60, or 90 days. This is in contrast to a sight draft, which is payable on demand or upon presentation of the draft to the drawee.

A Time Draft Is Payable at a Definite Future Time