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2019 Ohio Revised Code
Title [13] XIII COMMERCIAL TRANSACTIONS - OHIO UNIFORM COMMERCIAL CODE
Chapter 1304 - BANK DEPOSITS AND COLLECTIONS
Section 1304.38 - Presentment of on arrival drafts - UCC 4-502.
Universal Citation: Ohio Rev Code § 1304.38 (2019)
If a draft or the relevant instructions require presentment "on arrival," "when goods arrive," or at a similar time related to the arrival of goods, 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 shall notify its transferor of the refusal but is not required to present the draft again until it is instructed to do so or learns of the arrival of the goods.
Effective Date: 08-19-1994 .
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