{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.5A-106.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.5A-106.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.5A-106.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.5A-106.html"}],"law_id":58998,"edition_id":1,"section_id":58998,"structure_id":14537,"section_number":"8.5A-106","catch_line":"Issuance, amendment, cancellation, and duration","history":"1997, c. 343.","full_text":"a\n\nA letter of credit is issued and becomes enforceable according to its terms against the issuer when the issuer sends or otherwise transmits it to the person requested to advise or to the beneficiary. A letter of credit is revocable only if it so provides.b\n\nAfter a letter of credit is issued, rights and obligations of a beneficiary, applicant, confirmer, and issuer are not affected by an amendment or cancellation to which that person has not consented except to the extent the letter of credit provides that it is revocable or that the issuer may amend or cancel the letter of credit without that consent.c\n\nIf there is no stated expiration date or other provision that determines its duration, a letter of credit expires one year after its stated date of issuance or, if none is stated, after the date on which it is issued.d\n\nA letter of credit that states that it is perpetual expires five years after its stated date of issuance, or if none is stated, after the date on which it is issued.","order_by":null,"text":{"0":{"id":216310,"text":"A letter of credit is issued and becomes enforceable according to its terms against the issuer when the issuer sends or otherwise transmits it to the person requested to advise or to the beneficiary. A letter of credit is revocable only if it so provides.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":216311,"text":"After a letter of credit is issued, rights and obligations of a beneficiary, applicant, confirmer, and issuer are not affected by an amendment or cancellation to which that person has not consented except to the extent the letter of credit provides that it is revocable or that the issuer may amend or cancel the letter of credit without that consent.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"c"},"2":{"id":216312,"text":"If there is no stated expiration date or other provision that determines its duration, a letter of credit expires one year after its stated date of issuance or, if none is stated, after the date on which it is 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title","url":"\/8.5A-101\/","token":"8.5A\/8.5A-101","metadata":false},{"id":68166,"structure_id":14537,"section_number":"8.5A-102","catch_line":"Definitions","url":"\/8.5A-102\/","token":"8.5A\/8.5A-102","metadata":false},{"id":59884,"structure_id":14537,"section_number":"8.5A-103","catch_line":"Scope","url":"\/8.5A-103\/","token":"8.5A\/8.5A-103","metadata":false},{"id":62564,"structure_id":14537,"section_number":"8.5A-104","catch_line":"Formal requirements","url":"\/8.5A-104\/","token":"8.5A\/8.5A-104","metadata":false},{"id":78674,"structure_id":14537,"section_number":"8.5A-105","catch_line":"Consideration","url":"\/8.5A-105\/","token":"8.5A\/8.5A-105","metadata":{"court_decisions":""}},{"id":58998,"structure_id":14537,"section_number":"8.5A-106","catch_line":"Issuance, amendment, cancellation, and duration","url":"\/8.5A-106\/","token":"8.5A\/8.5A-106","metadata":false},{"id":78720,"structure_id":14537,"section_number":"8.5A-107","catch_line":"Confirmer, nominated person, and 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This law was first created in 1997. The record of its establishment is cataloged in chapter 343<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":59884,"section_number":"8.5A-103","catch_line":"Scope","order_by":null,"url":"\/8.5A-103\/"}],"refers_to":false,"permalink":{"id":283373,"object_type":"law","relational_id":58998,"identifier":"8.5A-106","token":"8.5A\/8.5A-106","url":"\/8.5A-106\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.5A-106\/","token":"8.5A\/8.5A-106","dublin_core":{"Title":"Issuance, amendment, cancellation, and duration","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.5A-106","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> A letter of credit is issued and becomes enforceable according to its terms against the issuer when the issuer sends or otherwise transmits it to the person requested to advise or to the beneficiary. A letter of credit is revocable only if it so provides. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> After a letter of credit is issued, rights and obligations of a beneficiary, applicant, confirmer, and issuer are not affected by an amendment or cancellation to which that person has not consented except to the extent the letter of credit provides that it is revocable or that the issuer may amend<\/span> or cancel the letter of credit without that consent. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> If there is no stated expiration date or other provision that determines its duration, a letter of credit expires one year after its stated date of issuance or, if none is stated, after the date on which it is issued. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

d.<\/span> A letter of credit that states that it is perpetual expires five years after its stated date of issuance, or if none is stated, after the date on which it is issued. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nISSUANCE, AMENDMENT, CANCELLATION, AND DURATION (\u00a7 8.5A-106)\n\na. A letter of credit is issued and becomes enforceable according to its terms\nagainst the issuer when the issuer sends or otherwise transmits it to the person\nrequested to advise or to the beneficiary. A letter of credit is revocable only\nif it so provides.\n\nb. After a letter of credit is issued, rights and obligations of a beneficiary,\napplicant, confirmer, and issuer are not affected by an amendment or\ncancellation to which that person has not consented except to the extent the\nletter of credit provides that it is revocable or that the issuer may amend or\ncancel the letter of credit without that consent.\n\nc. If there is no stated expiration date or other provision that determines its\nduration, a letter of credit expires one year after its stated date of issuance\nor, if none is stated, after the date on which it is issued.\n\nd. A letter of credit that states that it is perpetual expires five years after\nits stated date of issuance, or if none is stated, after the date on which it is\nissued.\n\nHISTORY: 1997, c. 343.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}