Okla. Stat. tit. 12A, § 12A-5-111

Remedies.

(a) If an issuer wrongfully dishonors or repudiates its

obligation to pay money under a letter of credit before

presentation, the beneficiary, successor, or nominated person

presenting on its own behalf may recover from the issuer the amount

that is the subject of the dishonor or repudiation. If the issuer's

obligation under the letter of credit is not for the payment of

money, the claimant may obtain specific performance or, at the

claimant's election, recover an amount equal to the value of

performance from the issuer. In either case, the claimant may also

recover incidental but not consequential damages. The claimant is

not obligated to take action to avoid damages that might be due from

the issuer under this subsection. If, although not obligated to do

so, the claimant avoids damages, the claimant's recovery from the

issuer must be reduced by the amount of damages avoided. The issuer

has the burden of proving the amount of damages avoided. In the

case of repudiation the claimant need not present any document.

(b) If an issuer wrongfully dishonors a draft or demand

presented under a letter of credit or honors a draft or demand in

breach of its obligation to the applicant, the applicant may recover

damages resulting from the breach, including incidental but not

consequential damages, less any amount saved as a result of the

breach.

(c) If an adviser or nominated person other than a confirmer

breaches an obligation under this article or an issuer breaches an

obligation not covered in subsection (a) or (b) of this section, a

person to whom the obligation is owed may recover damages resulting

from the breach, including incidental but not consequential damages,

less any amount saved as a result of the breach. To the extent of

the confirmation, a confirmer has the liability of an issuer

Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 389

specified in this subsection and subsections (a) and (b) of this

section.

(d) An issuer, nominated person, or adviser who is found liable

under subsection (a), (b), or (c) of this section shall pay interest

on the amount owed thereunder from the date of wrongful dishonor or

other appropriate date.

(e) Reasonable attorney's fees and other expenses of litigation

must be awarded to the prevailing party in an action in which a

remedy is sought under this article.

(f) Damages that would otherwise be payable by a party for

breach of an obligation under this article may be liquidated by

agreement or undertaking, but only in an amount or by a formula that

is reasonable in light of the harm anticipated.