PocketLaw | Delaware Code | Collection of Items; Depositary and

Collection of Items; Depositary and Collecting Banks

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Status of collecting bank as agent and provisional status of credits; applicability of article; item indorsed “pay any bank”.

Responsibility for collection or return; when action timely.

Effect of instructions.

Methods of sending and presenting; sending directly to payor bank.

Depositary bank holder of unindorsed item.

Transfer between banks.

Transfer warranties.

Presentment warranties.

Encoding and retention warranties.

Security interest of collecting bank in items, accompanying documents and proceeds.

When bank gives value for purposes of holder in due course.

Presentment by notice of item not payable by, through, or at bank; liability of drawer or indorser.

Medium and time of settlement by bank.

Right of charge-back or refund; liability of collecting bank; return of item.

Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal.

Insolvency and preference.