Definition of 'at sight' payment

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MIA19
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Definition of 'at sight' payment

Post by MIA19 » Wed Sep 01, 2010 7:13 pm

Hi,
can anyone please tell me where can I find definition for 'at sight' payment.
How many days is it? (2, 3, 5...)?
Is there something in writing or is it just usual practice that can be subject to different interpretations?
regards
Snježana
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shahriar
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At sight

Post by shahriar » Sat Sep 04, 2010 11:02 am

here is a quote from James E bryne
While payment “at sight” originally meant presenting the documents at the bank’s counter and waiting while a decision to pay was made, it now means payment after the time for examination of the documents.
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