Title 11, Chapter 5, Section 110
Availability of credit in portions; presenter's reservation of lien or claim.
(1) Unless otherwise specified a credit may be used in portions in
the discretion of the beneficiary.
(2) Unless otherwise specified a person by presenting a documentary
draft or demand for payment under a credit relinquishes upon its
honor all claims to the documents and a person by transferring such
draft or demand or causing such presentment authorizes such
relinquishment. An explicit reservation of claim makes the draft or