Florida Statutes
Fla. Stat. § 675.102 (2025)
Scope.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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675.102 Scope.—
(1) This chapter applies to letters of credit and to certain rights and obligations arising out of transactions involving letters of credit.
(2) The statement of a rule in this chapter does not by itself require, imply, or negate application of the same or a different rule to a situation not provided for, or to a person not specified, in this chapter.
(3) With the exception of this subsection, subsections (1) and (4), ss. 675.103(1)(i) and (j), 675.106(4), and 675.114(4), and except to the extent prohibited in ss. 671.102(2) and 675.117(4), the effect of this chapter may be varied by agreement or by a provision stated or incorporated by reference in an undertaking. A term in an agreement or undertaking generally excusing liability or generally limiting remedies for failure to perform obligations is not sufficient to vary obligations prescribed by this chapter.
(4) Rights and obligations of an issuer to a beneficiary or a nominated person under a letter of credit are independent of the existence, performance, or nonperformance of a contract or arrangement out of which the letter of credit arises or which underlies it, including contracts or arrangements between the issuer and the applicant and between the applicant and the beneficiary.
Note.—s. 5-102, U.C.C.
Notes of Decisions
Cited in 3
cases, 1978–2007 · leading case: Lewis State Bank v. Advance Mortg. Corp., 362 So. 2d 406 (Fla. 1st DCA 1978).
Lewis State Bank v. Advance Mortg. Corp., 362 So. 2d 406 (Fla. 1st DCA 1978). “[5] Section 675.102(3) (UCC 5-102(3)) provides: This chapter deals with some but not all of the rules and concepts of letters of credit as such rules or concepts have developed prior to this act or may hereafter develop.”
Citibank, Na v. Klein, 396 So. 2d 763 (Fla. 3d DCA 1981). “NOTES [1] Section 675.102(3), Florida Statutes (1979), specifically states: "This chapter [Article 5] deals with some but not all of the rules and concepts of letters of credit as such rules or concepts have developed prior to this act or may hereafter develop.”
Regions Bank v. Glendinning, 960 So. 2d 819 (Fla. 4th DCA 2007). “4th DCA 2004); § 675.102(4), Fla. Stat. (2006). The trial court did not abuse its discretion in denying the stay.”
— 675.102(3) — 2 cases
Lewis State Bank v. Advance Mortg. Corp., 362 So. 2d 406 (Fla. 1st DCA 1978). “[5] Section 675.102(3) (UCC 5-102(3)) provides: This chapter deals with some but not all of the rules and concepts of letters of credit as such rules or concepts have developed prior to this act or may hereafter develop.”
Citibank, Na v. Klein, 396 So. 2d 763 (Fla. 3d DCA 1981). “NOTES [1] Section 675.102(3), Florida Statutes (1979), specifically states: "This chapter [Article 5] deals with some but not all of the rules and concepts of letters of credit as such rules or concepts have developed prior to this act or may hereafter develop.”
— 675.102(4) — 1 case
Regions Bank v. Glendinning, 960 So. 2d 819 (Fla. 4th DCA 2007). “4th DCA 2004); § 675.102(4), Fla. Stat. (2006). The trial court did not abuse its discretion in denying the stay.”
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