Question: What is "at sight"? Answer: When you should pour cold water on a mime.
Actually, it's a term relating to the timing of payments under certain contracts. Most of the time, a company will give a buyer some time to pay their bill, say 30 days. "At sight" is the opposite of this. Basically, a buyer is expected to pay immediately, at sight of their bill, as it were.
An "at sight" clause might get added if the seller thinks the buyer presents some payment risk. If for instance, the seller had trouble collecting from this buyer in the past. Instead of chasing them around for payment again, they might insist on an "at sight" clause in order to get paid immediately, lowering the risk that the seller will get stiffed.
BTW, according to our lawyers, mime is a perfectly respectable art form and we wish nothing but security and health to all its practitioners. In fact, we're pretending to be stuck in a box right now!
Related or Semi-related Video
Finance: What is Cash on Delivery (COD)?41 Views
Finance a la shmoop what is cash-on-delivery?
or CoD well if you have a deadbeat buyer who's taken forever to pay you in [Danny Deadbeat laying on sofa]
the past think remember Popeye and wimpy borrowing money for burgers next Tuesday
when he actually never pays you'll eventually have to make that customer
that deadbeat a COD status purchaser well CoD has nothing to do with cheap
fish rather it stands for cash on delivery like you get cash when the good
is delivered and it means that the postal person or UPS gal or FedEx dude
has to collect the cash you are owed before they will actually leave the [Cash transfers to mail people]
package being shipped at the warehouse on your doorstep or van parked you know
down by the river if a client has such bad credit or has such a miserable
payment record that they have to be put on COD status well you may really have
to re-evaluate your relationship there COD also carries charges and often
they're big because a postal worker may have to ring the door eight times before [Postal worker ringing door bell]
finding the deadbeat at home and then even if he is home well it's uncertain
whether or not he'll have the ready cash to pay for whatever goods he just
ordered and sometimes you'd have better odds of getting money out of this thing [Pile of fish appear]
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