Analysis Of Legal Influences On The Beneficiary Under New Rules Of The UCP600

Many countries have used letter of credit as an important international methods of payments for a long time, and Uniform Customs and Practice for Documentary Credits (UCP) defined the rights, obligations and responsibilities among credit-related parties which has been widely accepted to apply. As the latest version,UCP600 has many new developments compared with UCP500.The former part of this article mainly compares UCP600 with UCP500 to overview several relative important changes of UCP600, such as "complying presentation" of the standard for examination of documents,"the changes of negotiation" and "irrevocable letter of credit". In addition, the article discusses the provision of "complying presentation" concluding not only the meaning of "complying presentation" of UCP600,but also what is "not match" situation concluded and how to deal with it under the new rules UCP600.On the above basis, the aim of the article is not just to provide analysis of the provision itself, but also studies the advantages and shortcomings in the process of international trade transactions toward beneficiary under the UCP600 new rules. After introduction of new rules of the UCP600 itself, there is a case from Supreme Court which explained our application of the new rules UCP600 in China. In addition, beneficiaries need make more attention during international transactions under UCP600 new rules. What's more, the author provides beneficiaries some useful legal advice to avoid the legal risks.