There are four types of negotiable instruments: drafts, checks, notes, and certificates of deposit. Drafts and checks fall under a classification as “promises to pay.”

There are four types of negotiable instruments: drafts, checks, notes, and certificates of deposit. Drafts and checks fall under a classification as “promises to pay.”

You need to be aware of the fact that certificates of deposits are very similar to savings account and they also have functions like one. One major difference is that certificates of deposit carries a fixed term like three months, six months, one year or even multiple years and most do also have fixed interest [...]