My educated guess would be it is checked at the end of the supplied options for smtpd_recipient_restrictions, is that correct?

On a very short glance at the source code, your guess does seem to be correct.

src/smtpd/smtpd_check.c:
    /*
     * If the "reject_unlisted_recipient" restriction still needs to be
     * applied, validate the recipient here.
     */
    if (var_smtpd_rej_unl_rcpt
        && status != SMTPD_CHECK_REJECT
        && state->recipient_rcptmap_checked == 0
        && state->discard == 0)
        status = check_recipient_rcpt_maps(state, recipient);

However, I am not very familiar with the Postfix source code.
Maybe somebody closer to the code can give you a more absolute confirmation.


Cheers,

K.

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