{"data":{"id":"us-ny/n.y.-uniform-commercial-code-law-4-502","jurisdiction":"us-ny","citation":"N.Y. Uniform Commercial Code Law § 4-502","heading":"Presentment of \"On Arrival\" Drafts","body":"Section 4--502. Presentment of \"On Arrival\" Drafts.\n  When a draft or the relevant instructions require presentment \"on\narrival\", \"when goods arrive\" or the like, the collecting bank need not\npresent until in its judgment a reasonable time for arrival of the goods\nhas expired. Refusal to pay or accept because the goods have not arrived\nis not dishonor; the bank must notify its transferor of such refusal but\nneed not present the draft again until it is instructed to do so or\nlearns of the arrival of the goods.","path":["Uniform Commercial Code Law","Article 4. Bank Deposits and Collections","Part 5. Collection of Documentary Drafts"],"source_url":"https://legislation.nysenate.gov/api/3/laws/UCC/4-502","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"ca9ba1fa3652f91634002ba47a329ea66451eabacf3807eed49511dc65e53edf","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-uniform-commercial-code-law-4-501","next":"us-ny/n.y.-uniform-commercial-code-law-4-503"},"notice":"GroundRules: Original legal text. Not legal advice."}