CHAPTER 5. Collection of Documentary Drafts

Chapter 5 enacted by Stats. 1963, Ch. 819.

§§ 4501–4504 · 4 sections

• § 4501 A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and, upon learning that the…
• § 4502 If a draft or the relevant instructions require presentment “on arrival,” “when goods arrive” or the like, the collecting bank need not present until in its…
• § 4503 Unless otherwise instructed and except as provided in Division 5 (commencing with Section 5101), a bank presenting a documentary draft: (a) Shall deliver the…
• § 4504 (a) A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable…