Question: What does Independence Principle means in a CIF contract? For me it means that the letter of credit is separate from the contract, is the

What does Independence Principle means in a CIF contract?

For me it means that the letter of credit is separate from the contract, is the promise to the seller that after the bank received all the documents and they are accept to honor the documents, the payment cannot be stopped after documents are received.

Can someone help me understand when independence principle is used

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