Pay down and Payable through draft: Difference between pages

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''Borrowings management''
(PTD). A draft that is only payable via a nominated bank.


To pay down debt means repaying the principal, in full or in part.
Depending on the conditions attached to the draft, the nominated bank may be the paying bank or only act as the collecting bank that presents the draft for payment.


The paying down may be in accordance with a schedule agreed at the outset of the borrowing, or it may be faster repayment than originally envisaged.
== See also ==
* [[Draft]]


== See also ==
* [[Debt]]
* [[Pay]]
* [[Principal]]

Revision as of 14:20, 23 October 2012

(PTD). A draft that is only payable via a nominated bank.

Depending on the conditions attached to the draft, the nominated bank may be the paying bank or only act as the collecting bank that presents the draft for payment.

See also


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