Florida Statute 675.112 - 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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F.S. 675.112

675.112 Transfer of letter of credit.—

(1) Except as otherwise provided in s. 675.113, unless a letter of credit provides that it is transferable, the right of a beneficiary to draw or otherwise demand performance under a letter of credit may not be transferred.

(2) Even if a letter of credit provides that it is transferable, the issuer may refuse to recognize or carry out a transfer if:

(a) The transfer would violate applicable law; or

(b) The transferor or transferee has failed to comply with any requirement stated in the letter of credit or any other requirement relating to transfer imposed by the issuer which is within the standard practice referred to in s. 675.108(5) or is otherwise reasonable under the circumstances.

History.—s. 1, ch. 65-254; s. 617, ch. 97-102; s. 1, ch. 99-137.

Note.—s. 5-112, U.C.C.; supersedes s. 676.07.

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Amendments to 675.112

Annotations, Discussions, Cases:

Cases Citing Statute 675.112

Total Results: 3

Republic National Bank of Miami, a National Banking Association v. Fidelity and Deposit Company of Maryland, a Maryland Corporation

894 F.2d 1255, 10 U.C.C. Rep. Serv. 2d (West) 1330, 1990 U.S. App. LEXIS 2294, 1990 WL 6919

Court of Appeals for the Eleventh Circuit | Filed: Feb 20, 1990 | Docket: 738844

Cited 18 times | Published

day following receipt of the documents. See id. §~ 675.112, .114(1).4 Upon honoring the letter of credit

Banco Do Brasil v. City Nat. Bank

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

District Court of Appeal of Florida | Filed: Dec 1, 1992 | Docket: 1473487

Cited 6 times | Published

days ..., are too long.") (citations omitted); § 675.112(1)(a), Fla. Stat. (1991). In our view the Bank

American Nat. Bk. v. Cashman Bros. Marine

550 So. 2d 98, 14 Fla. L. Weekly 2279, 9 U.C.C. Rep. Serv. 2d (West) 1036, 8 A.L.R. 5th 982, 1989 Fla. App. LEXIS 5397, 1989 WL 113231

District Court of Appeal of Florida | Filed: Sep 26, 1989 | Docket: 1370777

Published

nonconforming document, deferred honor pursuant to section 675.112, Florida Statutes (1987). Upon being told that