1. A revocable documentary credit shall not create any obligation on the bank towards the beneficiary. The bank may at any time amend or terminate it of its own accord or at the request of the person who ordered the letter of credit to be opened. 2. Where the bills of lading presented are in conformity with the particulars and conditions contained in the documentary credit contract and within its validity term and prior to its termination, the bank and the person ordering the opening of the letter of credit shall assume the joint liability vis-à-vis the beneficiary.
Interpretation and application must be checked against the official text and current version.