🕒 After Sight
US Capital Private Bank Knowledge Base
📖 What Does "After Sight" Mean?
The term After Sight refers to a specific payment condition on a draft or bill of exchange. When a draft bears the phrase “After Sight,” it means that the payment period or maturity time begins to run only after the draft has been accepted by the drawee (the party responsible for payment).
⚙️ How Does It Work?
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The draft is presented to the drawee for acceptance.
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Once the drawee signs or acknowledges the draft, the clock starts on the agreed payment period (e.g., 30 days after sight).
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The payment is due at the end of this period from the date of acceptance, not from the date of issuance or presentation.
💡 Why is After Sight Used?
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It provides a clear and fair timeline for payment that depends on the drawee's acceptance.
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Protects the drawee from premature payment demands before they have acknowledged the obligation.
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Commonly used in international trade finance to coordinate payments and shipment timing.
📚 Related Terms
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At Sight: Payment is due immediately upon presentation of the draft.
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Usance: Refers to a draft with a fixed maturity date after presentation, similar but not dependent on acceptance.
📞 Contact US Capital Private Bank
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🌐 Website: https://uscapitalprivatebank.com