554.5110 Warranties. 1. If its presentation is honored, the beneficiary warrants:a. 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 section 554.5109, subsection 1; and b. 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 ofcredit. 2. The warranties in subsection 1 are in addition to warranties arising under Articles 3, 4, 7, and 8 because of the presentation or transfer of documents covered by any of thoseArticles. [C66, 71, 73, 75, 77, 79, 81, §554.5110]96 Acts, ch 1026, §9, 28Referred to in §554.5108 Sat Dec 23 01:57:39 2023 Iowa Code 2024, Section 554.5110 (24, 0)
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