sight draft

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sight draft

n.
A draft that is payable on demand, especially one due for payment upon presentation.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.sight draft - a draft payable on presentation
bill of exchange, draft, order of payment - a document ordering the payment of money; drawn by one person or bank on another
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
The top five approaches to mitigating risk when selling internationally are as follows, according to the survey: letter of credit, pre-payment of some kind, credit insurance, cash against documents (CAD) and sight drafts. Euler Hermes was the only credit insurance provider mentioned by name.
The missing cars, which had been sold but for which Ford Motor Credit was not paid, were covered by depositing what Powell called "bogus sight drafts" into Fullerton Motor's account at Farmers & Merchants Bank.
First National Bank offers collection services for promissory notes, sight drafts, non-sufficient fundchecks, insurance drafts and foreign drafts.