| Documentary credit, which is the most important payment mean for international trade, substituting bank credit for mercantile credit, provides a possibility of financing for the buyer and the seller, and offers facilities for the international trade. Because of this, it is hailed as "the blood of the international trade". But the buyer and the seller, also the bank in the international trade often puts different construction on the same terms of the credit to suit their own self-interest. Especially in the negotiation, controversies are everywhere. People both among theorists and in practice hold different opinions among the following questions: what is the definition of negotiation, what kind of legal relationship exists in parties in the link of negotiation, what are the elements of negotiating bank, what are the legal consequences after issuing bank refuse to pay the negotiating bank, and so on. UCP600 brings in the Theory of Purchase, and confirms negotiation's function of financing. It settles down some controversies to a great extent. But because ICC slides over the legal problem in the link of negotiation, for it doesn't want UCP fell foul of the law of different country, and want to enlarge the application of UCP, there still exist some controversies over negotiation. I felt it necessary to systematically discuss the relevant legal problems of negotiation, and expect to help perfecting the theory construction of negotiation in the frame of UCP600.This dissertation introduces the evolution of the definition of negotiation in UCP, expatiates on the legal definition of negotiation, dissertates the relevant legal problems of negotiation, analyzes negotiation's function of financing, expounds the application of UCP600 and domestic laws combining legislation and practice, and brings forward some suggestions to companies in our country, striving to provide a scientific possibility to understand and grasp negotiation correctly, by using History analysis, Logistic analysis Positive analysis, and Normative analysis.This dissertation is divided into four chapters, which mainly include the following: Chapter One detailedly introduces the evolution of the definition of negotiation in UCP, and points out that the amendment of first importance of negotiation in UCP600 is the bringing in the Theory of Purchase, and confirming negotiation's function of financing.Chapter Two analyses an aporia existing in the definition of negotiation under UCP600, and points out that the final solution to the aporia is to clarify the legal definition of negotiation. Then this chapter expatiates on the legal definition of negotiation: Negotiation means the purchase of the beneficiary's "interests of credit" by the nominated bank. And this chapter elaborates the meaning of "credit's interests", the procedure of purchase of "credit's interests", and the legal consequences of purchase of "credit's interests". Based on this, this chapter indicates that the definition of negotiation in UCP600 is a matter for argument, and put forward the suggestion of deleting "and/or documents".Chapter Three introduces the procedure of concluding and performing of negotiation contract. Based on this, this chapter discusses elements of negotiating bank, and points out that the performing of the negotiation contract indicates that the nominated bank has become a negotiating bank. Also, this chapter commentates on some mistaken views about elements of negotiating bank. At last, this chapter discusses the legal consequences after issuing bank refuse to pay the negotiating bank, and analyses the legal relationships behind the refusing to pay.Chapter Four introduces laws about negotiation in our country, and reviews articles about negotiation in Rules of the Supreme People s Court on Hearing Letter of Credit Dispute Cases, and the Negotiable Instruments Law of the People's Republic of China. Finally, this chapter brings forward some suggestions to companies in our country on how to adapt to UCP600.
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