A contract for opening a credit is not considered a loan, and the customer shall not be bound to use the letter of credit opened in his favor.
Interpretation and application must be checked against the official text and current version.
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Book Three: Banking Transactions · Part Three: Bank Credits · Chapter Three: Opening a Letter of Credit: Article (420)
A contract for opening a credit is not considered a loan, and the customer shall not be bound to use the letter of credit opened in his favor.
Interpretation and application must be checked against the official text and current version.