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2025 Pennsylvania Consolidated & Unconsolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 45 - Collection of Documentary Drafts
Section 4502 - Presentment of "on arrival" drafts
Universal Citation:
13 PA Cons Stat § 4502 (2025)
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§ 4502. 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.
(July 9, 1992, P.L.507, No.97, eff. one year)
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