sight bill

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Explanation of "Sight Bill"

Definition:
A "sight bill" is a type of financial document, specifically a draft or bill of exchange, that is payable upon presentation. This means that when the person holding the sight bill shows it to the bank or the person who owes the money, they must pay the amount immediately.

Usage Instructions:

• When to use: You can use "sight bill" in financial or banking contexts, especially when discussing payments or transactions.
• Who uses it: This term is commonly used by bankers, businesspeople, and anyone involved in international trade or finance.

Example:

• "The exporter sent a sight bill to the importer, who paid the required amount as soon as he presented the document."

Advanced Usage:

In more complex financial discussions, you might encounter "sight bills" in relation to international transactions. For instance, a company might use a sight bill to ensure they receive payment for goods before they are shipped.

Word Variants:

• Sight Draft: Another term that is often used interchangeably with "sight bill."
• Bill of Exchange: A broader term that includes various types of drafts, including sight bills.

Different Meanings:

• In general usage, "sight" can refer to the ability to see or the act of seeing something. However, in the context of "sight bill," it specifically pertains to the immediate payment upon presentation.

Synonyms:

• Sight Draft
• Demand Draft
• Immediate Payment Draft

Idioms and Phrasal Verbs:

While there are no specific idioms or phrasal verbs directly related to "sight bill," you might hear phrases like: - "Cash on delivery" (which means paying for goods when they are delivered, similar in immediacy to a sight bill).

Summary:

A sight bill is an important financial document that requires payment as soon as it is presented.

Academic

Noun

1. a draft payable on presentation

Synonyms

• sight draft