Collection Of Documentary Drafts

This is Part 5 of the Code of Virginia, titled “Collection Of Documentary Drafts.” It is part of Title 8.4, titled “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