Article 367 of Commercial Code

1- A documentary credit is a contract under which the bank undertakes to open a credit at the request of one of its customers, the applicant for the credit, in favor of another person, the beneficiary, against documents representing goods transported or prepared for transport. Law Index 1305 Home Page Commercial Law Decree-Law No. 68 of 1980 promulgating the Commercial Law 2- The documentary credit contract shall be deemed independent of the contract by reason of which the credit was opened, and the bank shall remain a stranger to that contract.