Study On Crime Of Letter Of Credit Racketeering

Letter of credit is a written document from bank to the beneficiary (exporter) to guarantee the responsibility of paying for the imported goods under the request of the importer. It is the production of business practice instead of law so there are few specific regulations about L/C according to the existing laws of the countries all over the world. However, UCP500 is the world wide accepted and practicing regulation regarding the L/C settlement system. Our country,s criminal law business. To do such a topic is to further analyze and discuss the L/C racketeering as well as to gain more knowledge about L/C racketeering. It is also a good opportunity to guide our law practice by theory and to improve the existing law.The article has four chapters. First is to introduce L/C by basic theory like the concept law content, procedures and characteristics and so on to show the L/C can't prevent itself from racketeering and the subject and object reasons to produce the racketeering from the L/C independent and abstract principle. The second chapter is to introduce the concept of L/C racketeering and the composing character of L/C racketeering. It tells the four aspects in No.195 of the L/C management system and public goods'ownership. L/C racketeering from the objective view means the illegal possession through the intent, law original concept and so on. The third part is to show the difference among L/C racketeering, L/C illegal financial activity and common L/C racketeering as to illustrate the difference among L/C racketeering, contractual racketeering, loan racketeering and racketeering. The fourth part is to illustrate the punishment for L/C racketeering and the difference between our county's. It also suggests the legal improvement about the L/C racketeering in the national law regarding the punishment.