(a) Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other than a bank, and with or without the approval of any person involved, may waive, modify, or extend time limits imposed or permitted by this [Act] for a period not exceeding two additional banking days without discharge of drawers or indorsers or liability to its transferor or a prior party.
(b) Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by this [Act] or by instructions is excused if (i) the delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure of equipment, or other circumstances beyond the control of the bank, and (ii) the bank exercises such diligence as the circumstances require.
Structure Delaware Code
Article 4. Bank Deposits and Collections
Part 1. General Provisions and Definitions
§ 4-103. Variation by agreement; measure of damages; action constituting ordinary care.
§ 4-104. Definitions and index of definitions.
§ 4-106. Payable through or payable at bank; collecting bank.
§ 4-107. Separate office of bank.
§ 4-108. Time of receipt of items.