What is the main features of bank draft?

A bank draft is a payment instrument issued by a bank, ensuring the payee receives guaranteed funds. Key features include its security, as it is drawn on the bank's funds rather than the payer's, and its ability to facilitate large transactions without the risk of insufficient funds. Additionally, bank drafts are often used for international payments due to their reliability and acceptance. They typically require the payer to have sufficient funds in their account at the time of issuance.