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Published

draft

vr.tr.draft · thing-draft

Let an agent handle drafts as payment instruments by type, parties, amount, validity and fraud risk, with no personal financial advice.

Thing Registry Society, people and institutions SOC.ECO
Bundle → Layer → Finding → QuestionsClassifiersWhat it isWhy it existsDistinguishing featuresWhat robots and AI may and may not doMoral aspectsOwnersLinks to other meta-modelsIdentity and identifiersDirect propertiesRecognitionCapabilities and actionsHazards and failure modesStandards and interfacesContext of useSources

Bundle → Layer → Finding → Questions Filled

4 bundles · 8 layers · 8 findings · 16 questions

Instrument Which draft.

Type

Bank draft or bill.

Type

Draft type.

  1. Is it a bank draft or a bill of exchange? definition
  2. Sight or time? definition

Parties

Drawer, drawee, payee.

Parties

Parties.

  1. Who are the drawer, drawee and payee? provenance
  2. What amount and currency? measurement
Validity Is it genuine.

Verification

Bank check.

Verification

Verification.

  1. Has the issuing bank confirmed the draft, using independently found contact details? provenance
  2. Has it cleared? provenance

Red flags

Scams.

Red flags

Scam signs.

  1. Is someone asking for a refund of an overpayment by draft? boundary
  2. Where can fraud be reported? action
Use Payment.

Issuing

Getting a draft.

Issuing

Issuing.

  1. How is a bank draft obtained, and at what fee? action
  2. How long is it valid? measurement

Trade

Bills in trade.

Trade

Trade use.

  1. How are bills of exchange used in trade finance? definition
  2. Under which rules? provenance
Limits No advice.

Advice

Boundary.

Advice

Advice limit.

  1. Is the user asking for personal financial advice? boundary
  2. How should the agent respond? action

Senses

Disambiguation.

Senses

Other senses.

  1. Is an overdraft, a document draft or military conscription meant? boundary
  2. Which entry fits? action

Classifiers Filled

Family
Thing Registry
Category
Society, people and institutions
Entry kind
noun.possession
Plane
SOC
Domain
SOC.ECO
Tags
document
Facets: substance
social
Facets: origin
conceptual
Facets: agency
inert
Facets: mobility
not-applicable
Facets: scale
not-applicable
Facets: affordances
readable
Other names and narrower kinds
bill of exchange, order of payment, overdraft, foreign bill, foreign draft, inland bill, redraft, trade acceptance, bank draft, banker's draft, dividend warrant, money order

What it is Filled

A written order to pay money, drawn by one person or bank on another, such as a bank draft or bill of exchange; distinct from an overdraft, which is credit on an account.

Why it exists Filled

Let an agent handle drafts as payment instruments by type, parties, amount, validity and fraud risk, with no personal financial advice.

Distinguishing features Filled

  • Order to pay
  • Bank drafts are drawn on the bank itself
  • Bills of exchange can be sight or time
  • Frequent target of counterfeit fraud

What robots and AI may and may not do Filled

Must not

  • Issue, accept or present a draft without the account holder's authority.
  • Forge, alter or help pass a fraudulent draft.
  • Treat a draft as cleared funds before the issuing bank confirms it.

Only with a human decision

  • Any payment, endorsement or acceptance of a draft.

May

  • Explain what a bank draft or bill of exchange is and how it differs from an overdraft.
  • Help a user check that a draft was issued by a genuine bank through official channels.

Moral aspects Filled

  • Counterfeit drafts are a common tool of fraud against sellers.

Who is affected

  • Payees and sellers
  • Account holders
  • Issuing banks

Owners Filled

Steward

The drawer and the bank that issued it; the payee once it is delivered.

Links to other meta-models Filled

parent

  • oewn-06492827-n - registry parent class

related

  • payment instrument - category
  • bank - issuer
  • cheque - instrument
  • overdraft - credit

What else AI and robots need to interact with it Filled

Identity and identifiers required Filled

  • Vercy registry: vr.tr.draft
  • Open English WordNet: oewn-13398441-n

Direct properties not applicable Not applicable

Not applicable

Plane SOC: no invented physical properties.

Recognition optional Filled

  • Bank name and draft number
  • Drawer, drawee and payee
  • Overdraft and document draft are other senses
  • A printed or electronic payment order naming drawer, drawee, payee and amount.

Capabilities and actions required Filled

  • issue or request a bank draft
  • accept or endorse a bill of exchange
  • verify authenticity with the issuing bank
  • present for payment

Hazards and failure modes required Filled

  • Counterfeit bank drafts in scams
  • Paying out before clearance
  • Confusing senses

Standards and interfaces required Filled

  • Geneva Uniform Law on Bills of Exchange (1930)
  • UK Bills of Exchange Act 1882
  • UCP 600 for documentary collections and credits

Context of use required Filled

  • Guaranteed or deferred payment, especially in trade.
  • bank drafts
  • bills of exchange
  • sight and time drafts
  • foreign and inland bills
  • demand drafts

Sources Filled

  1. Open English WordNet 2024, synset oewn-13398441-n - sense and gloss of the concept
  2. Wiktionary: draft - word senses and usage

Open questions

  • Should bank drafts and bills of exchange be separate entries?
  • How should the document-draft sense be split off?
  • How should fraud warnings be kept current?

Machine files

Card as JSON Specification Card backlog vercy.card/1

Provenance

thing registry research (pass 2) · unreviewed

Built from: models/things/publications/thing-draft/spec.json