Colorado § 4-4-502 Presentment of on arrival drafts

Colorado Statutes

§ 4-4-502 — Presentment of on arrival drafts

Colorado § 4-4-502

Title 04Uniform

Art.Bank Deposits and Collections

This text of Colorado § 4-4-502 (Presentment of on arrival drafts) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 4-4-502 (2026).

Text

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.

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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.