N.Y. Uniform Commercial Code Law § 5-110: Warranties

Section 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 (a) of section 5--109; 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 because of the

presentation or transfer of documents covered by any of those articles.