Idaho § 28-4-502 PRESENTMENT OF “ON ARRIVAL” DRAFTS

Idaho Statutes

§ 28-4-502 — PRESENTMENT OF “ON ARRIVAL” DRAFTS

Idaho § 28-4-502

Title 28COMMERCIAL TRANSACTIONS

Part 5.COLLECTION OF DOCUMENTARY DRAFTS

Ch. 4UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS

This text of Idaho § 28-4-502 (PRESENTMENT OF “ON ARRIVAL” DRAFTS) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 28-4-502 (2026).

Text

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 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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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 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.