UAE Commercial Transactions Law — Article 432 — Article (432)
Book Three: Banking Transactions · Part Three: Bank Credits · Chapter Four: Documentary Credit: Article (429)
1. A documentary credit may be revocable or irrevocable.
2. A documentary credit shall be irrevocable, unless it is expressly agreed to the contrary.
3. A documentary credit may either be divisible, transferable, indivisible or non-transferable.
Interpretation and application must be checked against the official text and current version.
