Only the acceptor of a draft is obligated to pay an instrument without reservations of any kind.

Acceptor

In the context of banking and finance, an acceptor refers to the party who agrees to pay a bill of exchange or draft, typically a bank.

Draft

A preliminary version of a document or plan, subject to revisions and corrections.

Instrument

A legal document that formalizes an agreement or right, often used in financial and property transactions.