1. Where a letter of credit is opened for an indefinite term, the bank may at any time terminate it, based upon a notice to be served to the beneficiary at least thirty days before the date set for the termination. Any agreement which entitles the bank to terminate an indefinite term letter of credit without a prior notice or with a shorter-period notice shall be null and void. 2. In all cases, the letter of credit opened for an indefinite term shall be deemed terminated if the beneficiary does not use it after the lapse of six months from the date on which the beneficiary is notified of such opening, save where otherwise agreed.
Interpretation and application must be checked against the official text and current version.