What is a non-draft credit? How many types can it be classified into?

What is a non-draft credit? How many types can it be classified into?

There is a modern tendency for payment to be made by presentation of the documents without the formality of drawing and presenting a draft. Such credits are non-draft credit. They mainly include payment credit and deferred payment credit which are respectively similar to sight credit and usance credit with the difference that no draft is drawn and presented in the case of non-draft credit.