Alaska Statutes Title 45, Chapter 45.04, Article 05 - Collection of Documentary Drafts

• Sec. 45.04.501 Handling of Documentary Drafts; Duty to Send for Presentment and to Notify Customer of Dishonor.
  A bank that takes a documentary draft for collection must present or send the draft and accompanying documents for presentment and, upon learning that...
• Sec. 45.04.502 Presentment of "on Arrival" Drafts.
  If a draft or the relevant instructions require presentment "on arrival," "when goods arrive," or the like, the collecting bank need not present until...
• Sec. 45.04.503 Responsibility of Presenting Bank for Documents and Goods; Report of Reasons for Dishonor; Referee in Case of Need.
  (a) Unless otherwise instructed and except as provided in AS 45.05, a bank presenting a documentary draft(1) must deliver the documents to the drawee...
• Sec. 45.04.504 Privilege of Presenting Bank to Deal With Goods; Security Interest for Expenses.
  (a) A presenting bank that, following the dishonor of a documentary draft, seasonably requests instructions but does not receive them within a reasonable time,...

Last modified: November 15, 2016