Sight Draft definition

Sight Draft means a draft drawn by a beneficiary under a Letter of Credit and presented to the L/C Issuer, which draft is payable upon presentation to the L/C Issuer together with the documents called for under such Letter of Credit.
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Sight Draft means the Sight Draft in the form of Exhibit 3 attached hereto.
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Examples of Sight Draft in a sentence

  • We hereby agree with you that any Sight Draft and Certificate drawn under and in compliance with the terms of this Letter of Credit shall be duly honored by us upon delivery, if presented on or before our close of business on the Expiration Date at our office specified above.

  • With respect to an order on which credit is not extended by Seller or, if extended, is subsequently withdrawn, shipment or delivery shall be made, at Seller’s election, cash with order (in whole or in part), C.O.D., letter of credit or Sight Draft attached to ▇▇▇▇ of Lading or other shipping documents, with all costs of collection for the account of Buyer.

  • Provided that a compliant drawing is presented by 12:00 p.m., Eastern Standard time, on any Banking Day, payment shall be made to you of the amount specified in the applicable Sight Draft, not to exceed the Stated Amount, in immediately available funds, not later than 11:00 a.m., Eastern Standard time, on the second following Banking Day.

  • With respect to an order on which credit is not extended by Seller or, if extended, is subsequently withdrawn, shipment or delivery shall be made, at Seller’s election, cash with order (in whole or in part), C.O.D., letter of credit or Sight Draft attached to ▇▇▇▇ of Lading or other shipping documents, with all costs of collection (plus 18% interest on Sight Drafts not paid at maturity) for the account of Buyer.

  • Letter of Credit (with form of Sight Draft) (if applicable) (4663).

  • Cepheid reserves the right to require alternative payment mechanisms, including without limitation, Sight Draft, Letter of Credit, or Payment in Advance.

  • Issuer will effect payment under this Letter of Credit within twenty-four (24) hours after presentment of any Sight Draft.

  • The form of the Letter of Credit, Sight Draft, Drawing Request and Notice of Assignment are attached hereto as Annex II-1, II-2, II-3 and II-4 respectively.

  • Presentation of any Sight Draft and Certificate shall be made at our office located at [Investec Bank PLC, ▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, London, EC2V 7QP, United Kingdom].

  • Provided that a compliant drawing is presented by [12:00 P.M.] Eastern Standard Time, on any Business Day, payment shall be made to you of the amount specified in the applicable Sight Draft, not to exceed the Stated Amount, in immediately available funds, on or before the second Business Day after presentation.

Related to Sight Draft

  • Draft means a draft as defined in section 3104 or an item, other than an instrument, that is an order.

  • Facility LC Application is defined in Section 2.19.3.

  • Drawing means the drawing or drawings specified in or annexed to the Specifications;

  • Shop Drawing means any and all drawings, diagrams, layouts, explanations, illustrations, manufacturer's drawings or other written or graphic materials which illustrate any portion of the construction work.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.