(1) Unless otherwise agreed the beneficiary by transferring or presenting a documentary draft or demand for payment warrants to all interested parties that the necessary conditions of the credit have been complied with. This is in addition to any warranties arising under Articles 3, 4, 7, and 8 of this title.

(2) Unless otherwise agreed a negotiating, advising, confirming, collecting, or issuing bank presenting or transferring a draft or demand for payment under a credit warrants only the matters warranted by a collecting bank under Article 4 of this title and any such bank transferring a document warrants only the matters warranted by an intermediary under Articles 7 and 8 of this title.