Research On The Fraud On The Letter Of Credit

As a method of financial settlement, letter of credit (L/C) is well used in international trade. Letter of credit is seemed as" the lifeline of international business. Because the technique of the letter of credit usage is strong, the pertaining to crime judicatory pursues for the difficulty and deceives the quantity to compare greatly, many crime members deceive letter of credit to see as the most perfect commit crime. There are many types of fraud by letter of credit. This paper starts by general knowledge of letter of credit, then concerns about basic principle and the process of its operation. Then reviews the development of the legislation of fraud by letter of credit .In the following part, the paper emphasizes constitutes of fraud by letter of credit and the disputed problem and the difficulty in cognizance in judicature .In this Part of which, we mainly analyze material fraud behavior in impersonal side and " illegal possession intention " in subjective side .The difficulty in cognizance of judicature includes crime and non-crime of cognizance, this crime and that crime, and special forms of the crime . At commit crime since affirm the aspect uncompletedly, deceive the lawmaking present condition of the offense to set out from the our country letter of credit, combine the domestic and oneself to the circumstance that that offense study, the writer put forward personal standpoint.