Terms & Glossaries of Shipping and Trading
Draft or Draught
1. The depth of a ship's keel below the waterline. The number of feet that the hull of a ship is beneath the surface of the water.
2. An unconditional order in writing, addressed by one party (drawer) to another party (drawee), requiring the drawee to pay at a fixed or determinable future date, a specified sum in lawful currency to the order of a specified person.
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