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A draft that matures on a fixed date, regardless of the time of acceptance.



Related Terms

TIME DRAFT

A draft that matures at a fixed or determinable time after presentation or acceptance.

FIXED-CHARGE PROBLEM

A linear programming problem in which each variable has a fixed-charge coefficient in addition to the usual cost coefficient; the fixed charge (for example, a setup time charge) is a nonlinear function and is incurred only when the variable appears in the solution with a positive level.

ELLIPTICAL SYSTEM

A tracking or navigation system where ellipsoids of position are determined from time or phase summation relative to two or more fixed stations which are the focuses for the ellipsoids.

BALANCED DRAFT

The maintenance of a fixed value of draft in a furnace at all combustion rates by control of incoming air and outgoing products of combustion.

NATIONAL GEODETIC VERTICAL DATUM

A fixed reference once adopted as a standard geodetic datum for heights in the United States. The geodetic datum now in use in the United States is the North American Vertical Datum of 1988. The geodetic datum is fixed and does not take into account the changing stands of sea level. Because there are many variables affecting sea level, and because the geodetic datum represents a best fit over a broad area, the relation- ship between the geodetic datum and local mean sea level is not consistent from one location to another in either time or space. For this reason the National Geodetic Vertical Datum should not be confused with MEAN SEA LEVEL.

BUILDING-BLOCK APPROACH

A technique for development of a set of standard data by creating fixed groups or modules of work elements that may be added together to obtain time values for elements and entire operations.

DISCOUNTED DRAFT

A time draft under a letter of credit that has been accepted and purchased by a bank at a discount.

AMOUNT LIMIT

In a test for a fixed quantity of work, the time required to complete the work or the total amount of work that can be completed in an unlimited time.

FIXED STAR

A star whose apparent position relative to surrounding stars appears to be unvarying or fixed for long periods of time

WAVE PERIOD

The time interval between passage of successive wave crests at a fixed point.

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