Okla. Stat. tit. 12A § 2-514
Unless otherwise agreed documents against which a draft is drawn are to be delivered to the drawee on acceptance of the draft if it is payable more than three (3) days after presentment; otherwise, only on payment.
Okla. Stat. tit. 12A, § 2-514
Oklahoma Code Comment
There are no previous Oklahoma statutes or decisions.
This section governs the duties of the financing agency to whom a draft, with bill of lading attached, has been sent for collection. If the draft is payable within three days after presentment, it is considered a "cash" item, and the draft must be paid before the financing agency may deliver the bill of lading. However, if the draft is payable more than three days after presentment, the financing agency shall deliver the bill of lading upon the acceptance of the draft by the buyer. The three day period is an old commercial custom.