A bank draft refers to a bill issued by a bank that unconditionally pays a certain amount to the payee or holder on a specified date after sight.

Legal basis:

Article 19 of People's Republic of China (PRC)'s Negotiable Instruments Law: A bill is a bill issued by the drawer, and the payer is entrusted to unconditionally pay a certain amount to the payee or holder at sight or on a specified date. Bills of exchange are divided into bank bills and commercial bills.