Letters of Credit

  1. Law
  2. New York Laws
  3. Uniform Commercial Code
  4. Letters of Credit

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Section
5-101

Short Title.

Section
5-102

Definitions.

Section
5-103

Scope.

Section
5-104

Formal Requirements.

Section
5-105

Consideration.

Section
5-106

Issuance, Amendment, Cancellation, and Duration.

Section
5-107

Confirmer, Nominated Person, and Advisor.

Section
5-108

Issuer's Rights and Obligations.

Section
5-109

Fraud and Forgery.

Section
5-110

Warranties.

Section
5-111

Remedies.

Section
5-112

Transfer of Letter of Credit.

Section
5-113

Transfer by Operation of Law.

Section
5-114

Assignment of Proceeds.

Section
5-115

Statute of Limitations.

Section
5-116

Choice of Law and Forum.

Section
5-117

Subrogation of Issuer, Applicant, and Nominated Person.

Section
5-118

Security Interest of Issuer or Nominated Person.

Section
5-119

Applicability.

Section
5-120

Savings Clause.