The Research On The Crime Of Fraud On Letter Of Credit

Along with China's increasing international trade volume and amount, not onlythe opportunity to use letter of credit in international trade market has graduallyincreased, but the occurrence of commiting credit fraud has been alarmingly soaring,especially Among those cases of both parties located in the different places andcountries, since China became a member of WTO.As an important instrument ofinternational settlement, letter of credit is not the product of business practise but thelaw. Among powerful countries in the commercial sphere, the criminal law in China isthe only criminal legislation in which fraud on letter of credit is incorporated. Thus,in-depth and systemic research in this field will surely bring great theoretical andpractical significance. The author focuses on the conundrums and controversial issueson the application of justice, and also presented proposals about fraud on letter ofcredit in the criminal Legislation with a view to play the role of the criminal lawprotection better.This dissertation consists of six chapters.Chapterâ… is about letter of credit andfraud on letter of credit, which is a brief summary to the concept of letter of credit,basic principles and features of the function of letter-of-credit system. This chapterhelps to understand the unique mechanism of letter of credit prior to a perfect grasp offraud on letter of credit. Chapterâ…¡is about the analysis of the relevant problems tothe crime of fraud on letter of credit.This chapter mainly discusses about whether thefoundation of crime of fraud on letter of credit is bound to holding the purpose ofillegal possession; whether the presumption of illegal possession, the boundaris between crime and noncrime or similar offenses, and whether the "soft clause"L/Csurely constitues the crime of credit fraud.Besides,there are other enlighteningresearch on controversial issues in this section. The author thinks that the purpose ofillegal possession is a necessary constitutive requrement of crime of credit fraud.Therelationship between crime of credit fraud and ordinary crime of swindling is just likebetween the special provisions and general provisions.The criminal object iscomplicated object of crime,i.e, crime of credit fraud violate public or privateproperty ownership as well as the nation's major credit managementsystem.Objectively, the crime against property is always characterized by the act ofillegal possession.The only difference lies in the method of possession.The reason thatthe purpose of illegal possession hasn't been prescribed by China's criminal law yet isbecause legislation technique is used in criminal law formulation ,which can also beconsidered as the embodiment of legislative utilitarianism,rather than holes inlegislation. In terms of the clause "other means of fraud on letter of credit ",which isprescribed in China's criminal law ,The author mainly discusses whether the "softclause LC" surely constitutes credit fraud. The author believe the "soft clause "per seis a kind of explicit act of law and it actually does not have the objective constitutiverequrements. Only the use of "soft terms" without other deciet such as hiding factsand concealing the truth does not constitute crime of credit fraud. In this chapter, theauthor also discusses that crime of credit fraud is whether consequential offense orbehavioral offense. Chapterâ…¢is about the research on the set-up of death penalty interms of credit fraud.The international trend to light punishment is affecting the set-upof penalties to crime of credit fraud.Based on the request of the rational ailoeation ofpenalties and the extradition, the author calls for the early repeal of relevantprovisions to death penalty to crime of credit fraud.Chapterâ…£is about prevention forcredit fraud.Under the guidance of international practice,LC traders in differentcountries should strengthen the self-prevention by some methods such as choosingcreditworthy trading partners.Through the study from international conventions,international practises and laws in different nations and related legislation on therestructuring of credit fraud,the author for the perfection of legislation makes some constructive comments on the corresponding provisions of punishment againstcompetence, on the amendment of the setup method to pecuniary penalty and on thethe procedural laws, the context of which is legal assistance.