Fla. Stat. § 675.110 – Availability of credit in portions; presenter's reservation of lien or claim

(1) Unless otherwise specified a credit may be used in portions in the discretion of the beneficiary.
(2) Unless otherwise specified a person by presenting a documentary draft or demand for payment under a credit relinquishes upon its honor all claims to the documents and a person by transferring such draft or demand or causing such presentment authorizes such relinquishment. An explicit reservation of claim makes the draft or demand noncomplying.

History.--s. 1, ch. 65-254.

Note.--s. 5-110, U.C.C.