                                 CODE OF VIRGINIA

OPEN TIME FOR PAYMENT OR RUNNING OF CREDIT; AUTHORITY TO SHIP UNDER RESERVATION
(§ 8.2-310)

Unless otherwise agreed:

a. payment is due at the time and place at which the buyer is to receive the
goods even though the place of shipment is the place of delivery; and

b. if the seller is authorized to send the goods he may ship them under
reservation, and may tender the documents of title, but the buyer may inspect
the goods after their arrival before payment is due unless such inspection is
inconsistent with the terms of the contract (&#xA7; 8.2-513); and

c. if delivery is authorized and made by way of documents of title otherwise
than by subsection (b) then payment is due regardless of where the goods are to
be received (i) at the time and place at which the buyer is to receive delivery
of the tangible documents or (ii) at the time the buyer is to receive delivery
of the electronic documents and at the seller&#8217;s place of business or if
none, the seller&#8217;s residence; and

d. where the seller is required or authorized to ship the goods on credit the
credit period runs from the time of shipment but postdating the invoice or
delaying its dispatch will correspondingly delay the starting of the credit
period.

HISTORY: 1964, c. 219; 2004, c. 200.