- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 5. Letters of Credit
- Section 110. Warranties.
previous: Section 109
. Fraud and Forgery.
next: Section 111
AS 45.05.110. Warranties.
- (a) If its presentation is honored, the beneficiary warrants to
- (1) the issuer, another person to whom presentation is made, and the applicant that there is no fraud or forgery of the
kind described in AS 45.05.109(a); and
- (2) the applicant that the drawing does not violate an agreement between the applicant and beneficiary or another
agreement intended by them to be augmented by the letter of credit.
- (b) The warranties in (a) of this section are in addition to warranties arising under AS 45.03, AS 45.04, AS 45.07, and AS 45.08 because of the presentation or transfer of documents covered
by those chapters.
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