To compose or prepare a document, proposal, or strategy. A noun or pronoun can be used between "draft" and "up." Once both parties reach an agreement, Stu will draft up the contract.You draft it up and then give it to me for approval.
draft up
v.
To write or devise some preliminary version or plan: I drafted up a speech to give at the banquet. The architect came up with a basic plan and drafted it up to show the client.