The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 5-110)
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§ 5—110. Warranties
(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 subsection 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 Articles 3, 4, 7, and 8 of this title because of the presentation or transfer
of documents covered by any of those articles. (Added 1997, No. 65 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)