2020 Colorado Revised Statutes
Title 4 - Uniform Commercial Code
Article 2. Sales
Section 4-2-310. Open time for payment or running of credit - authority to ship under reservation.
Unless otherwise agreed:
Payment is due at the time and place at which the buyer is to receive the goods, eventhough the place of shipment is the place of delivery; and
If the seller is authorized to send the goods, he may ship them under reservation, andmay tender the documents of title, but the buyer may inspect the goods after their arrival before payment is due, unless such inspection is inconsistent with the terms of the contract (section 4-2513); and
If delivery is authorized and made by way of documents of title otherwise than bysubsection (b) of this section, then payment is due, regardless of where the goods are to be received, (i) at the time and place at which the buyer is to receive delivery of the tangible documents, or (ii) at the time the buyer is to receive delivery of the electronic documents and at the seller's place of business or, if none, the seller's residence; and
Where the seller is required or authorized to ship the goods on credit, the creditperiod runs from the time of shipment, but postdating the invoice or delaying its dispatch will correspondingly delay the starting of the credit period.
Source: L. 65: p. 1308, § 1. C.R.S. 1963: § 155-2-310. L. 2006: (c) amended, p. 491, § 7, effective September 1.
