Florida Statute 675.107 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 675
UNIFORM COMMERCIAL CODE: LETTERS OF CREDIT

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675.107 Confirmer, nominated person, and adviser.—

(1) A confirmer is directly obligated on a letter of credit and has the rights and obligations of an issuer to the extent of its confirmation. The confirmer also has rights against and obligations to the issuer as if the issuer were an applicant and the confirmer had issued the letter of credit at the request and for the account of the issuer.

(2) A nominated person who is not a confirmer is not obligated to honor or otherwise give value for a presentation.

(3) A person requested to advise may decline to act as an adviser. An adviser that is not a confirmer is not obligated to honor or give value for a presentation. An adviser undertakes to the issuer and to the beneficiary accurately to advise the terms of the letter of credit, confirmation, amendment, or advice received by that person and undertakes to the beneficiary to check the apparent authenticity of the request to advise. Even if the advice is inaccurate, the letter of credit, confirmation, or amendment is enforceable as issued.

(4) A person who notifies a transferee beneficiary of the terms of a letter of credit, confirmation, amendment, or advice has the rights and obligations of an adviser under subsection (3). The terms in the notice to the transferee beneficiary may differ from the terms in any notice to the transferor beneficiary to the extent permitted by the letter of credit, confirmation, amendment, or advice received by the person who so notifies.

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

Note.—s. 5-107, U.C.C.

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Amendments to 675.107

Annotations, Discussions, Cases:

Cases Citing Statute 675.107

Total Results: 2 | Sort by: Relevance | Newest First

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Daiwa Prods., Inc. v. NATIONSBANK, NA, 885 So. 2d 884 (Fla. 4th DCA 2004).

Cited 4 times | Published | Florida 4th District Court of Appeal | 2004 WL 1933124

...another bank." § 675.103(1)(e), Fla. Stat. (1997). [1] An advising bank does not incur an obligation to honor drafts drawn under a letter of credit, but it does "assume obligation for the accuracy of its own statement [s]" made to the beneficiary. § 675.107(1), Fla....

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Banco Gen. Runinahui, S.A. v. Citibank Int'l, 97 F.3d 480 (11th Cir. 1996).

Published | Court of Appeals for the Eleventh Circuit

...ts, and commercial invoices) that conform with the terms of the credit. Id. In some letters of credit, another bank, known as the confirming bank, assumes the same obligations as the issuing bank. See Fla.Stat. § 675.107(2) (1995) (a bank that confirms a credit becomes "directly obligated on the credit to the extent of its confirmation as though it were its issuer...."). The key to the commercial vitality of the letter of credit is Wade as to t...

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