At Sight

Definition of At Sight (as) in International Trade

The following is a concept of At Sight (as) in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): Term indicating that whatever action it pertains to must be undertaken immediately. This term is commonly used on drafts accompanying bank collections to indicate that they are immediately payable (as soon as the drawees see them). However, in practice, payments are often deferred until the arrival of the goods covered by such collections, since the buyers have no need for accompanying documents until then. A draft drawn at sight are also frequently required by letters of credit.