§12A-5-103.

§12A-5-103.
   
   Scope.
   
   (a) This article applies to letters of credit and to certain rights
   and obligations arising out of transactions involving letters of
   credit.
   
   (b) The statement of a rule in this article does not by itself
   require, imply, or negate application of the same or a different rule
   to a situation not provided for, or to a person not specified, in this
   article.
   
   (c) With the exception of this subsection, subsections (a) and (d) of
   this section, paragraphs (9) and (10) of subsection (a) of Section
   5-102 of this title, subsection (d) of Section 5-106 of this title,
   and subsection (d) of Section 5-114 of this title, and except to the
   extent prohibited in subsection (3) of Section 1-102 of this title and
   subsection (d) of Section 5-117 of this title, the effect of this
   article may be varied by agreement or by a provision stated or
   incorporated by reference in an undertaking. A term in an agreement or
   undertaking generally excusing liability or generally limiting
   remedies for failure to perform obligations is not sufficient to vary
   obligations prescribed by this article.
   
   (d) Rights and obligations of an issuer to a beneficiary or a
   nominated person under a letter of credit are independent of the
   existence, performance, or nonperformance of a contract or arrangement
   out of which the letter of credit arises or which underlies it,
   including contracts or arrangements between the issuer and the
   applicant and between the applicant and the beneficiary.