Understanding Drafts for Peru

Drafts are a type of payment instrument that implies a direct communication between the bank of the payer company and the bank of the company receiving payment.

In most countries, drafts are a promise of payment for an acquired debt. The use of drafts as payment of a debt affects the legal nature of the debt. Consequently, you must distinguish draft payments from other types of payments and submit legal reports for drafts separately from other types of payments and legal liabilities.