Sight Draft (Noun)
Meaning
A draft payable on presentation.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The exporter secured payment through a sight draft that the buyer had to pay as soon as the shipping documents were presented.
- When importing goods, many suppliers prefer to receive payment through a sight draft to avoid payment risks.
- She learned about sight drafts in her international trade finance course.
- The international trade terms specified a sight draft to be presented upon delivery of the goods.
- Businesses often opt for a sight draft to facilitate quick payment upon delivery of shipments.