The UCP 600 - Changes and its effect on the examination of documents
Letter of credit law are governed by two overriding principles. The principle of autonomy of the credit and the doctrine of strict compliance. The principle of autonomy can be read out of articles 4, 5 and 14 (a) UCP 600 and stipulates that banks deal with documents and not with goods. A letter of credit is a separate transaction from the sales contract and the bank isn't bound to the contract
