sight draft


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Sight draft

Demand for immediate payment.

Sight Draft

A check or other draft that is payable to the payee when the payee presents the draft to the appropriate party. It contrasts with a time draft, which is not payable until a stated date in the future.

sight draft

A draft that is payable on demand. Compare time draft.
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Wholesalers in Little Rock and North Little Rock "were aware of the bogus nature of these sight drafts and accompanying documents and the absence of any title certificates with the drafts," he said.