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Drafts Payable
6 Months Ended
Jun. 30, 2022
Drafts Payable  
Drafts Payable

6. Drafts Payable

 

Drafts payable outstanding represent unpaid drafts that have not been disbursed by the bank as of the reporting date, on insurance premium finance contracts received by the Company prior to the reporting date. As of June 30, 2022 and December 31, 2021, the draft payable balances are $2,267,040 and $1,935,278, respectively.