Study Of Documentary Letter Of Credits And UCP500

Documentary Credits is a very important revolution of international settlement field in the 19th century, because the crisis of commerce credit exited in international trade was solved by the taking part in of bank credit, and it also facilitated the international traders to get loans from banks, so the emergence and popularize of L/C contributed greatly to the development of international trade. From The Uniform Customs and Practice for Documentary Credit first published by ICC in 1929, it have been revised six times according to the changes of world technology and economy, and it contributed greatly to the popularize of Documentary Credits all through the world.Firstly, this thesis inquires into the background of the advent and development of Documentary Credits, and analyzed the ways in which L/C promoted the development of international trade; Secondly, the thesis analyzed the advantages and disadvantages of L/C to its Beneficiary, Opener, and Issuing Bank. The second chapter explains the connotation of Documentary Credit, and it also introduces principal theories on legislation characters of Documentary Credit, the other part of the chapter puts emphasis on analyzing the principal characters of Documentary Credit and the relationship on rights and obligations among the principal parties of L/C transactions.Continually, the paper analyzes the background and significance of the drawing up of the Uniform Customs and Practice for Documentary Credit, and it also analyzed its legislation validity, and the main characters and new achievements of UCP500 comparing with UCP400, additionally it analyzed the principal characters and functions of ISP98 and the newly published "UCP Supplement for Electronic Presentation"(eUCP), and the last part of this chapter try to calculate the develop trends of UCP. The last chapter of the paper put emphasis on analyzing the problems may occur in the practice of master and performance of UCP500: at first, concisely analyzed some problems should be paid attention to in the process of L/C practice, after that it mainly analyzed the regulations and performance of documents according to UCP500, and at last the paper analyzed the principal risks in the practice of Documentary Credits, and some solve methods are presented accordingly...