sight draft
1
8.9
- noun
- Formal
:
letra de cambio a la vista
- The Tai-Pan asked my father... to bring along the sight drafts he holds against Noble House.
Examples
-
Frederic Henry's money is, moreover, not just money; it is drawn from the accumulated wealth of his grandfather, whose sight drafts supply the grandson with more than sufficient funds to live comfortably overseas.
Academic text (2017) -
"I will draw a sight draft on my grandfather," he tells Rinaldi.
Academic text (2017) -
I live by sight drafts.
Academic text (2017) -
Now, Tyler, i wonder if you'd do me the courtesy... to let me see the sight drafts you say you hold against Noble House.
-
A sight draft allows immediate payment to be collected by presenting it at a bank.
-
When I went to pay the vendor, I used a sight draft to settle the bill on the spot.
-
To ensure prompt payment, the contractor requested a sight draft for the services rendered.
Synonyms
7
5.8
A written order telling a bank to pay money to someone
A written order that the bank or buyer must pay immediately when shown
A written order telling one person or bank to pay money to another at a set time
How Long
- Specialized
- Formal
1
8.9
Surface Forms
Morphology
sight + draft
The components give a clear clue: 'draft' is a bill/order for payment and 'sight' (in the phrase 'at sight') indicates presentation/seeing, so a learner could infer a bill payable on presentation. However, the usage is a specialized banking/legal convention and relies on the collocation 'at sight' rather than ordinary, everyday senses, so the exact contractual meaning is not fully predictable to a B1 learner without some domain exposure.
Etymology
Sight draft comes from old trade language: a draft is a written order to pay and sight means 'when seen'. Picture showing the paper to the bank and getting paid 'right away' as soon as they see it, so a sight draft is a bill that must be paid immediately when shown.