Rhode Island § 6A-5-107 § 6A-5-107. Confirmer, nominated person, and adviser.

Rhode Island Statutes

§ 6A-5-107 — § 6A-5-107. Confirmer, nominated person, and adviser.

Rhode Island § 6A-5-107

Title 6AUniform Commercial Code

Ch. 6A-5Letters of Credit

This text of Rhode Island § 6A-5-107 (§ 6A-5-107. Confirmer, nominated person, and adviser.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 6A-5-107 (2026).

Text

§ 6A-5-107. Confirmer, nominated person, and adviser.
(a) A confirmer is directly obligated on a letter of credit and has the rights and obligations
            of an issuer to the extent of its confirmation. The confirmer also has rights against
            and obligations to the issuer as if the issuer were an applicant and the confirmer
            had issued the letter of credit at the request and for the account of the issuer.
         
(b) A nominated person who is not a confirmer is not obligated to honor or otherwise give
            value for a presentation.
         
(c) A person requested to advise may decline to act as an advi

Free access — add to your briefcase to read the full text and ask questions with AI

§ 6A-5-107. Confirmer, nominated person, and adviser.

(a) A confirmer is directly obligated on a letter of credit and has the rights and obligations of an issuer to the extent of its confirmation. The confirmer also has rights against and obligations to the issuer as if the issuer were an applicant and the confirmer had issued the letter of credit at the request and for the account of the issuer.

(b) A nominated person who is not a confirmer is not obligated to honor or otherwise give value for a presentation.

(c) A person requested to advise may decline to act as an adviser. An adviser that is not a confirmer is not obligated to honor or give value for a presentation. An adviser undertakes to the issuer and to the beneficiary accurately to advise the terms of the letter of credit, confirmation, amendment, or advice received by that person and undertakes to the beneficiary to check the apparent authenticity of the request to advise. Even if the advice is inaccurate, the letter of credit, confirmation, or amendment is enforceable as issued.

(d) A person who notifies a transferee beneficiary of the terms of a letter of credit, confirmation, amendment, or advice has the rights and obligations of an adviser under subsection (c). The terms in the notice to the transferee beneficiary may differ from the terms in any notice to the transferor beneficiary to the extent permitted by the letter of credit, confirmation, amendment, or advice received by the person who so notifies.