{"data":{"id":"us-ky/krs-355.5-107","jurisdiction":"us-ky","citation":"KRS 355.5-107","heading":"Confirmer, nominated person, and adviser.","body":"(1) A confirmer is directly obligated on a letter of credit and has the rights and\nobligations of an issuer to the extent of its confirmation. The confirmer also has\nrights against and obligations to the issuer as if the issuer were an applicant and the\nconfirmer had issued the letter of credit at the request and for the account of the\nissuer.\n(2) A nominated person who is not a confirmer is not obligated to honor or otherwise\ngive value for a presentation.\n(3) A person requested to advise may decline to act as an adviser. An adviser that is not\na confirmer is not obligated to honor or give value for a presentation. An adviser\nundertakes to the issuer and to the beneficiary accurately to advise the terms of the\nletter of credit, confirmation, amendment, or advic e received by that person and\nundertakes to the beneficiary to check the apparent authenticity of the request to\nadvise. Even if the advice is inaccurate, the letter of credit, confirmation, or\namendment is enforceable as issued.\n(4) A person who notifies a transferee beneficiary of the terms of a letter of credit,\nconfirmation, amendment, or advice has the rights and obligations of an adviser\nunder subsection (3) of this section. The terms in the notice to the transferee\nbeneficiary may differ from the ter ms in any notice to the transferor beneficiary to\nthe extent permitted by the letter of credit, confirmation, amendment, or advice\nreceived by the person who so notifies.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33599","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:45Z","sha256":"fef3f6b04f97d3250d0c7622a94e89a14eaae89a3f6c8ac503972984381e6e25","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.5-106","next":"us-ky/krs-355.5-108"},"notice":"GroundRules: Original legal text. Not legal advice."}