Florida Statute 675.111 - Full Text and Legal Analysis

675.111 Remedies.—

(1) If an issuer wrongfully dishonors or repudiates its obligation to pay money under a letter of credit before presentation, the beneficiary, successor, or nominated person presenting on its own behalf may recover from the issuer the amount that is the subject of the dishonor or repudiation. If the issuer’s obligation under the letter of credit is not for the payment of money, the claimant may obtain specific performance or, at the claimant’s election, recover an amount equal to the value of performance from the issuer. In either case, the claimant may also recover incidental but not consequential damages. The claimant is not obligated to take action to avoid damages that might be due from the issuer under this subsection. If, although not obligated to do so, the claimant avoids damages, the claimant’s recovery from the issuer must be reduced by the amount of damages avoided. The issuer has the burden of proving the amount of damages avoided. In the case of repudiation the claimant need not present any document.

(2) If an issuer wrongfully dishonors a draft or demand presented under a letter of credit or honors a draft or demand in breach of its obligation to the applicant, the applicant may recover damages resulting from the breach, including incidental but not consequential damages, less any amount saved as a result of the breach.

(3) If an adviser or nominated person other than a confirmer breaches an obligation under this chapter or an issuer breaches an obligation not covered in subsection (1) or subsection (2), a person to whom the obligation is owed may recover damages resulting from the breach, including incidental but not consequential damages, less any amount saved as a result of the breach. To the extent of the confirmation, a confirmer has the liability of an issuer specified in this subsection and subsections (1) and (2).

(4) An issuer, nominated person, or adviser who is found liable under subsection (1), subsection (2), or subsection (3) shall pay interest on the amount owed thereunder from the date of wrongful dishonor or other appropriate date.

(5) Reasonable attorney’s fees and other expenses of litigation must be awarded to the prevailing party in an action in which a remedy is sought under this chapter.

(6) Damages that would otherwise be payable by a party for breach of an obligation under this chapter may be liquidated by agreement or undertaking, but only in an amount or by a formula that is reasonable in light of the harm anticipated.

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

Note.—s. 5-111, U.C.C.; supersedes s. 675.32.

Cases Citing F.S. 675.111

Fla. Stat. § 675.111 (2026) Copy Cite Official Site Syfertize CourtListener Amendments
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Jaffe v. Bank of Am., N.A., 674 F. Supp. 2d 1360 (S.D. Fla. 2009).
Cited 1 times | Published | District Court, S.D. Florida | 72 U.C.C. Rep. Serv. 2d (West) 618, 2009 U.S. Dist. LEXIS 119984, 2009 WL 4906676
...Accordingly, BoA claims it is entitled to attorneys' fees from two separate sources: under the Florida Uniform Commercial Code (UCC), and under the terms of the contract between BoA and Plaintiffs that governed the letter of credit agreement. As to the first source, the Florida UCC, under Florida Statute § 675.111(5), provides: "Reasonable attorney's fees and other expenses of litigation must be awarded to the prevailing party in an action in which a remedy is sought under this chapter." The official comments to the UCC clarify the breadth of this m...
...Subsection (e) authorizes attorney's fees in all actions where a remedy is sought `under this article.' It applies even when the remedy might be an injunction under Section 5-109 or when the claimed remedy is otherwise outside of Section 5-111. Fla. Stat. § 675.111(5), cmt....
...Costs and Expenses Claimed by BoA In an ordinary case, the prevailing party is only entitled to limited costs of litigation, as provided in 28 U.S.C. § 1920. [3] However, BoA claims that it is also entitled to litigation expenses pursuant to Florida Statute 675.111(5), which provides;: "Reasonable attorney's fees and other expenses of litigation must be awarded to the prevailing party in an action in which a remedy is sought under this chapter." (emphasis added)....
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·Banco Lavra, S.A. v. Cargil Int'l, 732 So. 2d 1086 (Fla. 1st DCA 1998).
Published | Florida 1st District Court of Appeal | 37 U.C.C. Rep. Serv. 2d (West) 145, 1998 Fla. App. LEXIS 13467, 1998 WL 764689
beneficiary for breach of warranty, pursuant to section 675.111(1), Florida Statutes (1997). We affirm. Banco
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Cited as authority(citing case) (2004)
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Cases Citing F.S. 675.111

Jaffe v. Bank of Am., N.A., 674 F. Supp. 2d 1360 (S.D. Fla. 2009).

·Banco Lavra, S.A. v. Cargil Int'l, 732 So. 2d 1086 (Fla. 1st DCA 1998).