Article 871. Execution of a letter of credit

1. The execution of a letter of credit may be effected by: (1) payment to the recipient of funds made by the bank upon presentation to the recipient of documents conforming to the terms of the letter of credit, directly or indirectly. 2. To be executed by other means specified in the letter of credit. The letter of credit shall be submitted by the recipient of the funds, including in electronic form under the terms of the letter of credit, to the implementing bank or issuing bank. 3. The execution of the letter of credit shall be carried out within five working days from the date of receipt and shall decide whether to pay or not. provided that the documents submitted are in accordance with the terms of the letter of credit and cannot be subject to the obligation or obligations of the payer or recipient of the funds 4. Verification of the documents submitted shall be performed by the bank on the outside. Cops on the outside do not comply with the terms of the letter of credit, the bank is entitled to refuse to comply with the letter of credit. 5. In the event of the opening of a funded (deposited) letter of credit, the implementing bank shall execute the letter of credit by covering such a letter of credit. NK performed an outstanding (guaranteed) letter of credit, issuer bank or confirmer bank is required to reimburse the bank for the expenses incurred. and to the issuing bank by the payer, the payer is obliged to pay to the issuing bank the amounts paid under the letter of credit, irrespective of the issuing bank ' s performance to the performing bank and on the basis of its obligations to the issuing bank. 6. The documents accepted by the implementing bank shall be submitted to the bank by the issuing bank or by the issuing bank confirming it. — The issuer or confirmer bank (if any): The documents accepted by the confirmer bank shall be submitted to the issuing bank. A person who has five working days from the date of receipt of the letter of credit shall refund or refuse to reimburse the outstanding (guaranteed) letter of credit. Having received the documents submitted, the non-conformity of the documents submitted with the terms of the letter of credit covered (deposited) is entitled to require the performing bank to 7. The recipient of the funds is not entitled to give way, in whole or in part, to the right (claim) under the letter of credit unless otherwise authorized. but the terms of the letter of credit.