Article 372 of Commercial Code

1 - In the case of an irrevocable documentary credit, the bank’s obligation shall be definitive and direct towards the beneficiary and every holder of intention of the instrument drawn in performance of the contract by reason of which the credit was opened. 2 - An irrevocable documentary credit may not be cancelled or amended except by agreement of all parties concerned. - An irrevocable credit may be confirmed by another bank, which shall in turn be definitively and directly bound towards the beneficiary. 4 - The mere notification of the opening of an irrevocable documentary credit sent to the beneficiary through another bank shall not constitute confirmation of that credit by that bank.