Research On The Legal Problems Of The Letter Of Credit Fraud

The letter of credit has substituted the commercial credit with credit of the bank, the issuing bank has inevitable responsibility for payment to the beneficiary, the innovation of this kind of financing way makes the international trade safer and swifter, it has not only protected the businessman's legitimate rights and interests, but also reduced the risk of international trade. However, any way is not perfect, while the mechanism of the letter of credit plays a great role, the abstract independence principle of this mechanism is utilized by some illegal businessmen to do some cheating activities. These behaviors have seriously distorted financial order and brought great losses to the world. Therefore, it is necessary to perfect the relevant laws of our country, At the same time , it is also of important realistic meanings to reinforcing the study of the letter of credit and take precautions against risk of the letter of credit fraud (L/C fraud) This thesis has been illustrated in the following six aspects. In the first part,this author mainly analyzes that historical background of coming into being and developing of the letter of reedit, In the second part , this author state that definition and category of L/C fraud . Etc, In the third part , the author mainly study on L/C fraud from the view of law, it clued two aspects , one is the basic principle of L/C fraud——independence principle, another is relieve measure of legislation of L/C fraud——exception principle, In the fourth part , the author bring forward the microcosmic countermeasure in order to be on guard L/C fraud, In the fifth part and part ,the author put forward macroscopically countermeasure lawmaking judicature from the angle of international lawmaking and judicature in order to eliminate the L/C fraud. The article makes a comprehensive and profound study on the legal problem of the fraud in letter of credit,and argues about some remedies and protections. In a word , only the lawmaking of the fraud in the letter of credit are consummate, the laws of the fraud in letter of credit are fulfilled strictly , international cooperation is strengthened, can the fraud in letter of credit be eliminated...