2010 New York Code
UCC - Uniform Commercial Code
Article 3 - COMMERCIAL PAPER
Part 7 - (3-701) ADVICE OF INTERNATIONAL SIGHT DRAFT
3-701 - Letter of Advice of International Sight Draft.

Section 3--701. Letter of Advice of International Sight Draft.
    (1)  A  "letter  of  advice" is a drawer's communication to the drawee
  that a described draft has been drawn.
    (2) Unless otherwise agreed when a bank receives from another  bank  a
  letter  of  advice  of  an international sight draft the drawee bank may
  immediately debit the drawer's account and stop the running of  interest
  pro tanto. Such a debit and any resulting credit to any account covering
  outstanding  drafts  leaves  in the drawer full power to stop payment or
  otherwise dispose of the amount and creates  no  trust  or  interest  in
  favor of the holder.
    (3)  Unless otherwise agreed and except where a draft is drawn under a
  credit issued by the drawee, the drawee of an international sight  draft
  owes  the drawer no duty to pay an unadvised draft but if it does so and
  the draft is genuine, may appropriately debit the drawer's account.