1. Bank Draft
-Anish Prasai

2. Concept
It is a written order by one branch of bank to another branch of the same bank to pay certain sum of money on demand to the person named.
a check drawn on a bank’s funds and is guaranteed by the bank that issues it
The term bank draft is used for other situations, and use varies from country to country

3. Features of Bank Draft It is conditional order for payment.
It is drawn by one branch to another branch.
The bank of the two branches will be same is payable on demand.
It is payable on demand.
The amount specified is written on it.
The name of specified person is also written on it.
It bearer signature of the issuing authority.
Branch code number is also written on it.
It bears no stamp

4. Advantages of Bank Draft
It is very useful for trade
It is useful for the settlement of debts.
It is a reliable credit instrument for remitting money
The payment of draft through telegraphic transfer (T.T) is made with in a few hours

5. DIFFERENCE BETWEEN CHEQUE AND DRAFT
In case of draft, the banker has direct liability to pay while in case of cheque banker will pay if the sufficient amount is available in the account.
A draft can not be made payable to the bearer. A cheque can be drawn by the bearer.
A banker is bound to pay the draft money while cheque payment can be sloped by the drawer.

6. Thank You!!!