Collection of Documentary Drafts

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This is Part 5 of the Code of Virginia, titled “Collection of Documentary Drafts.” It is part of Title 8.4 “Commercial Code — Bank Deposits and Collections”.

It’s comprised of the following 4 sections.

§ 8.4-501	Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
§ 8.4-502	Presentment of "on arrival" drafts
§ 8.4-503	Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need
§ 8.4-504	Privilege of presenting bank to deal with goods; security interest for expenses