sight draft

n. (Abbr. SD)
A draft or bill that is payable on demand or upon presentation. Also called demand draft.

Bill of exchange or draft that is payable when presented. Used when the seller of goods wants to retain control of the goods being shipped to an importer or exporter, either for credit reasons or to retain title. Money is payable at sight, or when the completed documents are presented, or within a specified period called days of grace. See also Time Draft.

This entry contains information applicable to United States law only.

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.