a payable upon presentment draft, usually accompanied by documents displaying completed transaction terms
Draft that demands payment "at sight," or immediately, as opposed to a time draft, which may be payable "90 days after sight" or "30 days after bill of lading date "
A draft payable upon presentation of the required documents to the drawee, which allows for immediate payment, provided all terms have been complied with
A draft that is payable upon presentation to the drawee Compare Date draft and Time draft
Terms of sale common in manufacturing by which goods are shipped via common carrier to purchaser An invoice, sight draft document, and bill of lading are presented to the customer's bank When the bank debits the customer's account, the bill of lading is released and the goods are delivered