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twanintokyo
AMOUNT OF BILL TO BE DRAWN AGAINST THE SHIPMENT meaning? I have a question regarding this meaning cause a frend of mine wants to know this. Is anyone familiar with this term?
Jul 4, 2012 3:07 AM
Answers · 2
If you draw money against something, you take an advance amount from it, expecting the full amount to come later. If you are expecting to be paid expenses for a long trip for the company, you might draw an advance against the final expense amount you expect the company to pay you. The way I interpret this is that some person or company expects to be paid some part of the final total bill that will be paid from the receiver when the shipment is finally received. I expect to be paid $1000 to ship some product. The contract may state that I can expect to draw $200 ahead of time from the company that the product is shipping to. That is a draw of $200 from the total bill of $1000. When the shipment is received, the company receiving the shipment will send an additional $800.
July 4, 2012
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twanintokyo
Language Skills
Chinese (Mandarin), Chinese (Taiwanese), English, Japanese, Korean, Malay, Vietnamese
Learning Language
Chinese (Mandarin), Chinese (Taiwanese), Japanese, Korean, Malay, Vietnamese