{"data":{"id":"us-ak/as-45.04.502","jurisdiction":"us-ak","citation":"AS 45.04.502","heading":"Presentment of “on arrival” drafts.","body":"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 this refusal, but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.","path":["Title 45. Trade and Commerce.","Chapter 04. Bank Deposits and Collections.","Article 5. Collection of Documentary Drafts."],"source_url":"https://www.akleg.gov/basis/statutes.asp#45.04.502","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:44Z","sha256":"c1c77e0bcfd6508f632c2c70dc562a5b20ac0c10807a71c0ed65ee86c47783b1","source_id":"us-ak","stale":false,"prev":"us-ak/as-45.04.501","next":"us-ak/as-45.04.503"},"notice":"GroundRules: Original legal text. Not legal advice."}