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2017 Maryland Code
Title 5 - Letters of Credit
§ 5-110. Warranties
Universal Citation: MD Comm L Code § 5-110 (2017)
- (a) If its presentation is honored, the beneficiary warrants:
- (1) To the issuer, any other person to whom presentation is made, and the applicant that there is no fraud or forgery of the kind described in § 5-109(a) of this title; and
- (2) To the applicant that the drawing does not violate any agreement between the applicant and beneficiary or any other agreement intended by them to be augmented by the letter of credit.
- (b) The warranties in subsection (a) of this section are in addition to warranties arising under Titles 3, 4, 7, and 8 of this article because of the presentation or transfer of documents covered by any of those titles.
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