UAE Commercial Transactions Law — Article 428 — Article (428)
Book Three: Banking Transactions · Part Three: Bank Credits · Chapter Three: Opening a Letter of Credit: Article (420)
Where a credit is terminated pursuant to the provisions of this Chapter, the bank shall not be required to pay payment orders or cheques drawn on the letter of credit, as long as they are presented to the bank after the letter of credit is terminated.
Interpretation and application must be checked against the official text and current version.
