ISSUER'S GENERAL OBLIGATIONS. Upon the issuance of a Credit, the issuer's obligations to the Applicant with respect tot he Credit include good faith and observance of general banking usage but do NOT include ability or responsibility of any kind arising out of or in connection with (a) performance of the underlying contract or other transactions between the Applicant and the beneficiary or any other person (b) acts, errors, defaults or omissions of any person other than the issuer including any use of the Credit by any such person (c) loss or destruction of any telegram, cable, letter, instrument or document [illegible] transit or in the possession of others (d) knowledge or lack of knowledge of any custom or usage of any particular trade (e) transmission delivery transaction or interpretation of any message including any interruption, delay error or omission therein, (f) insufficiency, lack of authorization, invalidity or lack of genuiness, truthfulness or error or fraud in any documents presented under the Credit or in any instructions purporting to be from the Applicant or the issuer's correspondent; (g) validity or correctness of any transfer or proper identity of any transferee (if the Credit is issued in transferable form), (h) waiver of any requirement which exists for the issuer's protection and not the protection of the Applicant, or which waiver does not in fact materially prejudice the Applicant, or (i) any other act or omission for which banks are relieved of responsibility under the "Uniform Customs & Practice [illegible] Documentary Credits of the international Chamber of Commerce (hereinafter the "UCP"), in effect on the date hereof.
ISSUER'S GENERAL OBLIGATIONS. Upon the issuance of a Credit, the Issuer's obligations to the Applicant with respect to the Credit include good faith and observance of general banking usage, but do NOT include liability or responsibility of any kind arising out of or in connection with: (a) performance of the underlying contract or otha xxxnsactions between the Applicant and the baneficiary or any other person; (b) acts, errors, defaults or omissions of any person other than the Issuer, including any use of the Credit by any such person; (c) loss or destruction of any telegram, cable, letter, instrument or document while in transit or in the possession of others; (d) knowledge or lack of knowledge of any custom or usage of any particular trade; (e) transmission, delivery, translation or interpretation of any message including any interruption, delay, error or orrrission therein; (f) insufficiency, lack of authorization, invalidity of, lack of genuineness, truthfulness or error or fraud in any documents presented under the Credit or in any instructions purporting to be from the Applicant or the Issuer's correspondent; (g) validity or correctness of any transfer or proper identity of any transferee (if the Credit is issued in transferable forte); (h) waiver of any requirement which exists for the Issuer's protection and not the protection of the Applicant, or which waiver does not in fact materially prejudice the Applicant; or (j) any other act or omission for which banks are relieved of responsibility under the "Uniform Customs & Practice for Documentary Credits" of the International Chamber of Commerce (hereafter, the "UCP"), in effect on the date hereof.
