California Commercial Code CHAPTER 5 - Collection of Documentary Drafts

• Section 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...
• Section 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...
• Section 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 documents to the...
• Section 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 time may...

Last modified: October 22, 2018