Draw is an informal term for neither player winning in a game or series of games.
A game might be considered a draw if both players end up with the same score (jigo) and there is no prior agreement of White winning in such an event. In modern go, this would be unlikely due to fractional komi.
A draw should be clearly distinguished from a no result game.
(On the other hand, Korean rules use the same word for score ties and games ending on repetition, which is translated to English as "draw". "Tie" may be the word that is never used for repetition though.)
In certain cases, a series of games could be considered a draw if it ends with the same number of games won on both sides.