sight draft

noun

1. a draft payable upon presentation.

Word History and Origins

Origin of sight draft¹

An Americanism dating back to 1840–50

Example Sentences

We are prepared to honor a sight-draft with the Bonds attached, or to pay cash on presentation and transfer.

From Project Gutenberg

If it is a sight draft—that is, a draft payable when A sees it—he may give cash for it at once and take the draft as his receipt.

From Project Gutenberg

I will most gladly draw a sight draft to-morrow, and pay your expenses back to that city, if you will only accept my offer.

From Project Gutenberg

The former is known as a time draft, while the latter is a sight draft.

From Project Gutenberg

What is the proper entry when a customer pays our sight draft?

From Project Gutenberg