§12A-4-502.

§12A-4-502.
   
                     PRESENTMENT OF "ON ARRIVAL" DRAFTS
                                      
   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 the
   refusal but need not present the draft again until it is instructed to
   do so or learns of the arrival of the goods.