Foreign bills of exchange drawn on parties in Great Britain, have expressed upon them the number of days after sight at which they are to be payable.

Thus, a merchant on receiving a foreign bill drawn at 'thirty days after sight,' hastens to get it 'sighted,' or shown to the party on whom it is drawn, and that party accepts it, at the same time marking the date of doing so.

The bill is then complete and negociable, and is presented for payment to the acceptor at the end of the time specified, allowing the usual three days of grace.

Should the bill not be accepted on being 'sighted,' it is a dishonoured bill, and is returned with a legal protest to the foreign correspondent.

To avert, as far as possible, the loss of foreign bills by shipwreck, a set of three bills is drawn for each transaction, called first, second, and third, of the same tenor.