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Pay order
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Demand draft
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1.Document which instructs a bank to pay a certain sum to a third
party. Such orders are normally acknowledged by the bank which provides a
guarantee that the payment will be made.
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1.A signed, written order by which one party instructs another party
to pay a specified sum to a third party.
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2.Not Negotiable Instrument
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2.Negotiable Instrument
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3.Is payable on the issuing branch
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3.Is payable to same bank with other branch
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4.Is not mode of payment
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4.Is mode of payment
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5.Paid locally
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5.In one place to another place
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Wednesday, September 21, 2016
Pay order VS Demand draft
