In the text the author first particular introduce the concept, the function ,the payment procedure and the content, the kinds of L\C, discuss the law connection in the party of L\C, the importance is the connection in Applicant, Beneficiary, Opening Bank ,in the emphases part discuss the operation of purchaser, the potency of the LAC, and the operation of the bargainer , the last author analysis the strict match principle and the right and incumbency of the party. In the fifth part the author analytics the right and the obligation under the bill not agree with L/C, follow it appraise the cheat on the L/C ,and pronouncement my advice to the lawmaking to the cheat under L/C.
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