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.
Sample 1Sample 2
Sight Draft means the Sight Draft in the form of Exhibit 3 attached hereto.
Sample 1

Examples of Sight Draft in a sentence

  • Price offered shall be for goods packed and delivered CIF Seaport/ International Airport (FCA) including packing, forwarding, Handling, Ancillary charges like processing of Sight Draft, negotiation charges of bank, Export declaration, Certificate of origin etc.Packing shall be Air/Sea worthy, best suitable for trans-shipment and to take care of transit damages.

  • Payment TermsFor Purchase within India :- 1) Credit period less than 45 days15* For Foreign Purchase :- 1) Payment through At Sight Letter of Credit102)Payment through Letter of Credit with usance credit of 45 days53) Sight Draft with credit period less than 45 days52.Penalty for Delayed Delivery1) Non – Acceptance102) Partial Acceptance ( X% )(10 – X) * All bank charges shall be to seller’s account.

  • Price offered shall be for goods packed and delivered F.C.A (named international Airport) ,FOB International sea port including packing, forwarding, Handling, Ancillary charges like processing of Sight Draft, Letter of credit (L/C) if applicable, negotiation of bank documents, Export declaration, Certificate of origin etc.Packing shall be Road / Rail / Air / Sea worthy, best suitable for transshipment and to take care of transit damages.

  • For foreign suppliers, the preferred payment term will be on Sight Draft basis and bank charges inside India will be to BHEL account and outside India will be to supplier’s account.

  • IMPORT ORDERS: NET 30 days / Documents through bank / Sight Draft or Irrevocable Letter Of Credit.

  • Being a Government of India Department, the normal terms of payment are by Sight Draft [SD].

  • The Sight Draft / Letter of Credit will be operative on presentation of the under mentioned documents: Original Bill of Lading / Airway Bill Commercially certified invoices describing the stores delivered, quantity, unit rate and their total value, in triplicate.

  • For offers received with Sight Draft payment terms with usance of less than 45 days, loading of 5% will be applicable.

  • Being a Department of the Government of India, the normal terms of payment are by Sight Draft.

  • TERMS OF PAYMENT: Being a Department of the Government of India, the normal terms of payment are by Sight Draft.

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;

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

  • Bank Guarantee means an irrevocable and unconditional undertaking by a trading bank approved by the Council to pay the Development Contribution amount on demand without an expiry or end date and containing terms and conditions acceptable to Council and in accordance with clause 9 of this Agreement;

  • Facility LC is defined in Section 2.19.1.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit H, signed by a Responsible Official of Borrower, and properly completed to provide all information required to be included therein.

  • Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Final Drawing has the meaning specified in Section 3.05(i).

  • As-built drawings, as used in this clause, means drawings submitted by the Contractor or subcontractor at any tier to show the construction of a particular structure or work as actually completed under the contract. “As-built drawings” shall be synonymous with “Record

  • Standard Letter of Credit Practice means, for Issuing Bank, any domestic or foreign law or letter of credit practices applicable in the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Documentary draft means a draft to be presented for acceptance or payment if specified documents, certificated securities as defined in section 8102 or instructions for uncertificated securities as defined in section 8102, or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.