Payable through drafts

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 payer's bank delivers the payable through draft ...

Payable through drafts are used by corporations to pay freight bills, or by insurance companies to settle claims.

to rise; instead of letting the stock go, he "pays up" to buy the shares at the higher prevailing price. (2) Buy shares in a high-quality company at what is felt to be a high, but supportable, price due to its quality.
Payable through drafts ...

See also: Banks, Expense, Pass-through securities, Time value of money, Pass-through