Sight Drafts financial definition of Sight Drafts
sight draft (redirected from Sight Drafts)
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Demand for immediate payment.
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.
A draft that is payable on demand. Compare time draft
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.