sight draft

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  • noun

Synonyms for sight draft

a draft payable on presentation

References in periodicals archive ?
It argued that it had timely presented all of the documents required by the letter of credit, to wit, a sight draft and the Beneficiary's statement confirming the Woods' default under their contract with the Seller.
As a result, the institution may raise the objection that it cannot honor a local government's sight draft without an order of the bankruptcy court.
The letter of credit beneficiary hat] presented the issuing bank with a sight draft in excess of the amount available for payment under the letter of credit.
A sight draft is a temporary voucher written by a wholesaler or finance company to a dealership, - and these fraudulent drafts allowed -the dealership to settle up with Ford Motor Credit after the audits.
On November 17, 2000, while the letter of credit was still in effect, Amwest had presented to Concord a sight draft in the face amount of the letter of credit, $1,200,000, and a written certification required by the letter of credit.
We might accept an unconfirmed letter of credit or a sight draft.
He was informed that if he needed to pay his bills to foreign vendors, he had to change his terms from Open Account to Sight Draft and forward the documents to his account officer at the bank.
Term options include cash in advance, documentary letter of credit, standby letter of credit, sight draft, time draft, and open account.