A sight draft is payable on presentation to the importer and the exporter usually receives the proceeds within one to two weeks. Normally, the exporter’s bank (or its correspondent bank in the buyer’s country) does not present the draft for payment by the importer until the merchandise has been delivered (usually by ship). When the importer (the buyer) has verified that all the paperwork is in order and that the goods have arrived, it pays the bank and receives title to the merchandise.