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|【法律论文的格式】Article 4 Credits v. Contractsa. A credit by its nature is a separate transaction from the sale or other contract on which it may be based. Banks are in no way concerned with or bound by such contract， even if any reference whatsoever to it is included in the credit. Consequently， the undertaking of a bank to honour， to negotiate or to fulfil any other obligation under the credit is not subject to claims or defences by the applicant resulting from its relationships with the issuing bank or the beneficiary.|
A beneficiary can in no case avail itself of the contractual relationships existing between banks or between the applicant and the issuing bank.