Florida Statute 675.106 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 675
UNIFORM COMMERCIAL CODE: LETTERS OF CREDIT

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F.S. 675.106

675.106 Issuance, amendment, cancellation, and duration.—

(1) A letter of credit is issued and becomes enforceable according to its terms against the issuer when the issuer sends or otherwise transmits it to the person requested to advise or to the beneficiary. A letter of credit is revocable only if it so provides.

(2) After a letter of credit is issued, rights and obligations of a beneficiary, applicant, confirmer, and issuer are not affected by an amendment or cancellation to which that person has not consented except to the extent the letter of credit provides that it is revocable or that the issuer may amend or cancel the letter of credit without that consent.

(3) If there is no stated expiration date or other provision that determines its duration, a letter of credit expires 1 year after its stated date of issuance or, if none is stated, after the date on which it is issued.

(4) A letter of credit that states that it is perpetual expires 5 years after its stated date of issuance or, if none is stated, after the date on which it is issued.

History.—s. 1, ch. 65-254; s. 615, ch. 97-102; s. 1, ch. 99-137.

Note.—s. 5-106, U.C.C.

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Amendments to 675.106

Arrestable Offenses / Crimes under Fla. Stat. 675.106

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 675.106.

Annotations, Discussions, Cases:

Cases Citing Statute 675.106

Total Results: 7

CITIZENS & PEOPLES NAT. BANK v. Futch

Court: District Court of Appeal of Florida | Date Filed: 1995-02-16

Citation: 650 So. 2d 1008, 1994 WL 101093

Snippet: without assent of the beneficiary. Id. at § 19-4; § 675.106(2), Fla. Stat. (1991); Sea Management Service,

Banco Do Brasil v. City Nat. Bank

Court: District Court of Appeal of Florida | Date Filed: 1992-12-01

Citation: 609 So. 2d 689, 17 U.C.C. Rep. Serv. 2d (West) 840, 1992 Fla. App. LEXIS 4748, 1992 WL 353672

Snippet: Bank, 597 F.2d 146 (9th Cir.1979); §§ 675-102, 675-106, 675-114, Fla. Stat. (1981). Therefore, for reasons

Cargill, Inc. v. Sunlight Foods, Inc.

Court: District Court of Appeal of Florida | Date Filed: 1991-06-18

Citation: 586 So. 2d 366, 15 U.C.C. Rep. Serv. 2d (West) 208, 1991 Fla. App. LEXIS 5650, 1991 WL 104631

Snippet: letter of credit is irrevocably "established," § 675.106(1)(b), Fla. Stat. (1989), and may not be *368 revoked

Sea Management Service v. Club Sea

Court: District Court of Appeal of Florida | Date Filed: 1987-09-01

Citation: 512 So. 2d 1025, 12 Fla. L. Weekly 2108

Snippet: been terminated. See Braun, 466 So.2d at 1132; § 675.106, Fla. Stat. (1985). As SMS correctly points out

Braun v. Intercontinental Bank

Court: District Court of Appeal of Florida | Date Filed: 1985-03-19

Citation: 466 So. 2d 1130, 10 Fla. L. Weekly 735

Snippet: the beneficiary's acquiesence or consent, see § 675.106(2), Fla. Stat. (1981), and that his only other

Southern Marine Research, Inc. v. Nateman

Court: District Court of Appeal of Florida | Date Filed: 1983-07-12

Citation: 434 So. 2d 47, 1983 Fla. App. LEXIS 20891

Snippet: specifically modified by the customer pursuant to Section 675.106(2), Florida Statutes (1981), the trial court correctly

Lewis State Bank v. Advance Mortg. Corp.

Court: District Court of Appeal of Florida | Date Filed: 1978-08-24

Citation: 362 So. 2d 406, 25 U.C.C. Rep. Serv. (West) 245, 1978 Fla. App. LEXIS 17204

Snippet: 9 CJS Banks and Banking § 178c (1938). Section 675.106(2) (UCC § 5-106(2)) provides that "unless otherwise