Florida Statutes
Fla. Stat. § 675.112 (2025)
Transfer of letter of credit.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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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.
Note.—s. 5-112, U.C.C.; supersedes s. 676.07.
Notes of Decisions
Cited in 3
cases, 1989–1992 · leading case: Repub. Nat'l Bank of Miami, a Nat'l Banking Ass'n v. Fid. & Deposit Co. of Maryland, a Maryland Corp., 894 F.2d 1255 (11th Cir. 1990).
Repub. Nat'l Bank of Miami, a Nat'l Banking Ass'n v. Fid. & Deposit Co. of Maryland, a Maryland Corp., 894 F.2d 1255 (11th Cir. 1990). “Either not noticing or ignoring these anomalies in the proffered invoices and bills of lading, Republic issued a cashier’s check in the amount of
Banco Do Brasil v. City Nat. Bank, 609 So. 2d 689 (Fla. 3d DCA 1992). “") (citations omitted); § 675.112(1)(a), Fla. Stat. (1991). In our view the Bank of Cochin decision represents the prevailing and better view.”
Am. Nat. Bk. v. Cashman Bros. Marine, 550 So. 2d 98 (Fla. 3d DCA 1989). “) The appellant bank, upon receiving the original letter and the nonconforming document, deferred honor pursuant to section 675.112, Florida Statutes (1987).”
— 675.112(1)(a) — 2 cases
Banco Do Brasil v. City Nat. Bank, 609 So. 2d 689 (Fla. 3d DCA 1992). “") (citations omitted); § 675.112(1)(a), Fla. Stat. (1991). In our view the Bank of Cochin decision represents the prevailing and better view.”
Am. Nat. Bk. v. Cashman Bros. Marine, 550 So. 2d 98 (Fla. 3d DCA 1989). “) The appellant bank, upon receiving the original letter and the nonconforming document, deferred honor pursuant to section 675.112, Florida Statutes (1987).”
— 675.112(2) — 1 case
Am. Nat. Bk. v. Cashman Bros. Marine, 550 So. 2d 98 (Fla. 3d DCA 1989). “) The appellant bank, upon receiving the original letter and the nonconforming document, deferred honor pursuant to section 675.112, Florida Statutes (1987).”
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