§ 47-4501 Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
§ 47-4502 Presentment of “on arrival” drafts
§ 47-4503 Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need
§ 47-4504 Privilege of presenting bank to deal with goods; security interest for expenses
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Terms Used In Arizona Laws > Title 47 > Chapter 4 > Article 5 - Collection of Documentary Drafts

  • Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
  • Customer: means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank. See Arizona Laws 47-4104
  • Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (section 47-8102) or instructions for uncertificated securities (section 47-8102) or other certificates, statements or the like are to be received by the drawee or other payor before acceptance or payment of the draft. See Arizona Laws 47-4104
  • Draft: means a draft as defined in section 47-3104 or an item, other than an instrument, that is an order. See Arizona Laws 47-4104
  • Drawee: means a person ordered in a draft to make payment. See Arizona Laws 47-4104
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.