Definition of At sight:
At sight is a payment due on demand. It requires the party receiving the good or service to pay a certain sum immediately upon being presented with the bill of exchange.
This type of payment is also known as a "sight draft" or a "sight bill.".
Bill of exchange payable on the day it is presented to the named entity (the drawee). Also called sight bill or sight draft. See also after sight.
How to use At sight in a sentence?
- At sight transactions are common when shipping goods overseas.
- At sight is a form of payment due on demand when presented with required documentation.
- Exporters might use a sight letter of credit or a letter of credit at sight to guarantee payment upon satisfying the requirements outlined in the letter. .
- A seller might place an at sight clause in a contract if the buyer has missed payments in the past, and is deemed to have a higher risk of default.
Meaning of At sight & At sight Definition