Application And Perfection Of The Independent Principle Of The Letter Of Credit

The means of payment of the letter of credit is with the development of international trade, take shape and develop progressively while commercial bank and other non-banking financial institutions participate in international trade and settle account, it is the most important means of payment and financing tool in modern international trade, it has been playing an irreplaceable role all the time while paying the field in international trade. Letter of credit import responsibility for payment that people are fulfilled by the bank means of payment, the credit of bank of Israel has replaced the buyer's commercial credit, has guaranteed sellers can receive the payment for goods safely rapidly , the buyer can receive the freight transportation document and real right evidence in time . So, this system has solved the contradiction resulting in distrusting each other because both parties are separated by vast oceans in international trade to a certain extent, meanwhile, the facility circulated that provided with funds for both sides of imports and exports too. So, the letter of credit is praised as " the lifeline of international commerce " for a long time.Just because the letter of credit is supported by credit of the bank, it is the written file that the bank offered the payment guarantee to the seller with one's own prestige , so determine the letter of credit should have independent abstractness principles , this principle is exactly uniqueness of means of payment of the letter of credit and superiority . The independent abstractness principle of the letter of credit has reflected the original intention that the system of the letter of credit produces and develops, so it has been a foundation of the trade of the letter of credit all the time .But behind a bright one have dark too, after theindependence abstractness principle of the letter of credit is established, the activity of utilizing this principle to swindle appeared at the same time too. As to this, the jurists regard flat law principle of weighing apparatus as the theoretical foundation , swindle the exceptional principle after putting forward the letter of credit. This principle has broken through the constraint of the traditional independent abstractness principle in the trade of the letter of credit, close in the gap that the steerer wants to bore . Nowadays, the ones that have already become a acquisition and acknowledged extensively in this principle have dealt with the legal principle that the letter of credit swindles, become a strong weapon that various countries are used for attacking the steerer of letter of credit.This text has carried on comparatively detailed exposition to the system of the letter of credit in the basic theory part at first. Take production and development of the letter of credit as the background, such basic theories as the party concerned that the definition , classification , effective way and business of the letter of credit involved ,etc. have carried on a series of analysis.Foundation and soul that secondly operate for the mechanism of the letter of credit —Independent principle, this is the most basic principle produced on the basis of specific meaning of the letter of credit. It turns the commercial credit into the credit of the bank effectively through international trade, excite enthusiasm and confidence that both parties join in the trade of the international goods finally, become the value foundation of the system of the letter of credit. Meanwhile, a series of theoretical questions about the fact that swindle emerge in the independent principle was suitable that this text also expounded the fact in an all-round way, from meaning , origin cause of formation , classify and judge standard four respect these swindle for following letter of credit exceptional principle lay hint foreshadowing.The fourth part Have specially explained another important principle in the system of the letter of credit -The letter of credit swindles the exceptional principle, it is perfection and restriction of the independent principle. Two kinds of different suggestions of existence that the law circle could be suitable to apply this principle, hold the certainly view to this text, background , sure reason and concrete suitable situation established to the exceptional principle have carried on deeper studying.Strict precaution countermeasure part swindled for the letter of credit finally. This text has enumerated relevant precautionary measures from two respects of microcosmic and macroscopic. In each part, the main party that involved to the business of the letter of credit in detail has explained the legal measure that a lot of feasible letters of credit of strict precaution swindle.Suitable about the independent principle of the letter of credit and perfect research, the most important thing is to have breadth and depth, I can only to the limit since already Yes, on the basis of absorbing forefathers extensively already has the achievements, actual case of connection some international trade, attempt relevant problem in letter of credit propose opinion already since a bit, in order to about perfection enlightenment to some extent that legislate, to adopt letter of credit imports and exports trader and helpful bank that way close to our country, earnestly ask relevant experts, the scholar makes a comment.