The 2023 Florida Statutes (including Special Session C)

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.

F.S. 675.106 on Google Scholar

F.S. 675.106 on Casetext

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 from cite.case.law:

CITIZENS PEOPLES NATIONAL BANK OF PENSACOLA, v. B. FUTCH,, 650 So. 2d 1008 (Fla. Dist. Ct. App. 1994)

. . . Id. at § 19-4; § 675.106(2), Fla.Stat. (1991); Sea Management Service, Ltd. v. . . .

CARGILL, INCORPORATED, v. SUNLIGHT FOODS, INCORPORATED,, 586 So. 2d 366 (Fla. Dist. Ct. App. 1991)

. . . . § 675.106(2). . . .

REPUBLIC NATIONAL BANK OF MIAMI, a v. FIDELITY AND DEPOSIT COMPANY OF MARYLAND, a, 894 F.2d 1255 (11th Cir. 1990)

. . . . § 675.106(1)(a) (1989), and the bank no longer may modify or revoke the letter without the customer's . . . At this point, the credit becomes established with regard to the beneficiary, see id. § 675.106(1)(b) . . . and the bank no longer may modify or revoke the letter without the beneficiary's consent, see id. § 675.106 . . .

SEA MANAGEMENT SERVICE, LTD. a v. CLUB SEA, INC. a, 512 So. 2d 1025 (Fla. Dist. Ct. App. 1987)

. . . See Braun, 466 So.2d at 1132; § 675.106, Fla.Stat. (1985). . . .

BRAUN d b a v. INTERCONTINENTAL BANK,, 466 So. 2d 1130 (Fla. Dist. Ct. App. 1985)

. . . could not be canceled or otherwise modified without the beneficiary’s acquiesence or consent, see § 675.106 . . . cancel the letter of credit, this wish could not be carried out without the consent of Grifería. § 675.106 . . .

JOHN ALDEN LIFE INSURANCE COMPANY, v. C. A. CAVENDES,, 591 F. Supp. 362 (S.D. Fla. 1984)

. . . The letter of credit is by its terms irrevocable, and under Florida Statute § 675.106(2), it may not . . .

SOUTHERN MARINE RESEARCH, INC. v. R. NATEMAN W., 434 So. 2d 47 (Fla. Dist. Ct. App. 1983)

. . . irrevocable letter of credit in question as specifically modified by the customer pursuant to Section 675.106 . . .