Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
§ 4-5-104. Formal requirements
§ 4-5-106. Issuance, amendment, cancellation, and duration
§ 4-5-107. Confirmer, nominated person, and adviser
§ 4-5-108. Issuer's rights and obligations
§ 4-5-112. Transfer of letter of credit
§ 4-5-113. Transfer by operation of law
§ 4-5-114. Assignment of proceeds
§ 4-5-115. Statute of limitations
§ 4-5-116. Choice of law and forum
§ 4-5-117. Subrogation of issuer, applicant, and nominated person