Welcome to the new malegislature.gov! Please take a moment to let us know what you think.
Skip to Content
The 189th General Court of the Commonwealth of Massachusetts

Section 4-502: Presentment of ''On Arrival'' Drafts

Section 4-502. 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 judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor; the bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.