A Bank Withdrawal or Draft Agreement is a legally binding contract between a bank and its customer that outlines the terms and conditions of a withdrawal or draft. It typically includes the withdrawal date, the amount to be withdrawn, the bank's fees, and the customer's signature. The agreement also typically includes the bank's eligibility criteria and any applicable limits or restrictions. There are two main types of Bank Withdrawal or Draft Agreement: Demand Drafts and Time Drafts. A Demand Draft is an agreement between a bank and its customer in which the bank agrees to pay a certain amount of money on demand by the customer. The customer typically pays the bank a fee for this service, and the bank issues a demand draft to the customer. A Time Draft is an agreement between a bank and its customer in which the bank agrees to pay a certain amount of money in the future, usually after a specified period of time. This type of agreement is typically used for larger purchases such as real estate or cars. The customer pays the bank a fee for this service, and the bank issues a time draft to the customer.