sight draft

(redirected from Sight Drafts)
Also found in: Dictionary, Thesaurus, Legal.
Related to Sight Drafts: bank acceptance

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.
Mentioned in ?
References in periodicals archive ?
The advantages of sight draft terms to the exporter are that the exporter retains title until payment of acceptance of the draft by the importer; and drafts are less restrictive in comparison L/Cs.