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Sight Draft |
Also found in: Dictionary/thesaurus, Financial, Acronyms | 0.03 sec. |
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A Commercial Paper that is payable upon presentment. When a draft or bill of exchange is payable at sight, money may be immediately collected upon presentment to the drawee named in the instrument. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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To accept an offer, the owner signs the deed before a notary, endorses the sight draft and mails both documents to the purchaser. Once approved, KeyBuy financing includes a Sight Draft (which works like a check) that the customer can take to the dealer. |
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