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letra de cambio a la vista

English translation: sight draft

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:letra de cambio a la vista
English translation:sight draft
Entered by: Camara
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22:35 Sep 12, 2001
Spanish to English translations [PRO]
Bus/Financial - Business/Commerce (general)
Spanish term or phrase: letra de cambio a la vista
Para garantizar el cumplimiento de las obligaciones que el presente contrato le impone, el productor acepta a la orden del comprador una Letra de Cambio a la vista en garantía, firmada ante notario, por la suma de US$
anablis
Local time: 16:29
sight draft
Explanation:
this is a type of bill of exchange that has to be paid when presented, i.e., at sight, rather than just accepted and paid later, when it becomes a true bill of exchange.

Here is a brief explanation taken from a google search: "sight draft"+exchange (649 hits)
Bills of Exchange (Drafts)

The bill of exchange, commonly referred to as the draft or the bill, is an unconditional order in writing, signed and addressed by the drawer (the exporter usually) to the drawee (the confirming bank or the issuing bank usually), requiring the drawee to pay the drawer a certain sum of money at sight or at a fixed or determinable future time.

The draft is widely used in international trade, most frequently in the payment against a letter of credit (L/C). It is also used in the open account without any L/C involved.

Selected response from:

Nikki Graham
United Kingdom
Local time: 21:29
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +2sight draft
Nikki Graham


  

Answers


49 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
sight draft


Explanation:
this is a type of bill of exchange that has to be paid when presented, i.e., at sight, rather than just accepted and paid later, when it becomes a true bill of exchange.

Here is a brief explanation taken from a google search: "sight draft"+exchange (649 hits)
Bills of Exchange (Drafts)

The bill of exchange, commonly referred to as the draft or the bill, is an unconditional order in writing, signed and addressed by the drawer (the exporter usually) to the drawee (the confirming bank or the issuing bank usually), requiring the drawee to pay the drawer a certain sum of money at sight or at a fixed or determinable future time.

The draft is widely used in international trade, most frequently in the payment against a letter of credit (L/C). It is also used in the open account without any L/C involved.




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    exp. used to teach translation of this for Chamber of Commerce exams
Nikki Graham
United Kingdom
Local time: 21:29
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 142

Peer comments on this answer (and responses from the answerer)
agree  Lafuente
6 hrs
  -> thanks

agree  Marian Greenfield
7 hrs
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Changes made by editors
Apr 25, 2005 - Changes made by Nikki Graham:
Field (specific)(none) » Business/Commerce (general)


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