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TeachMeFinance.com - explain draft draft 'draft' is an military term. It means '(DOD) 2. The depth of water that a vessel requires to float freely; the depth of a vessel from the water line to the keel. See also watercraft'. Previous 5 Terms: downgrade downloading_ dp _ dpi- draft - Next 5 Terms: draft plan drift_ drill mine _ drop altitude- drop height - Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.