The Collaborative International Dictionary of English v.0.48:

Redraft \Re*draft"\ (r[=e]*dr[.a]ft"), v. t.
   To draft or draw anew.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Redraft \Re*draft"\, n.
   1. A second draft or copy.
      [1913 Webster]

   2. (Com.) A new bill of exchange which the holder of a
      protected bill draws on the drawer or indorsers, in order
      to recover the amount of the protested bill with costs and
      charges.
      [1913 Webster]

WordNet (r) 3.0 (2006):

redraft
    n 1: a draft for the amount of a dishonored draft plus the costs
         and charges of drafting again

Bouvier's Law Dictionary, Revised 6th Ed (1856):

RE-DRAFT, comm. law. A bill of exchange drawn at the place where another
bill was made payable, and where it was protested, upon the place where the
first bill was drawn, or when there is no regular commercial intercourse
rendering that practicable, then in the next best or most direct practicable
course. 1 Bell's Com. 406, 5th ed. Vide Reexchange.