The Study Of Law Issues On Uniform Customs And Practice For Commercial Documentary Credits 2007 Revision

The Uniform Customs and Practice for Commercial Documentary Credits(hereinafter refer to as UCP) constituted by International Commercial Commissionplays an important role in the practice of credits since it has been come on. Going withthe change of theory basis and the practical operation, the flaws of UCP 1993 Revision(hereinafter refer to as UCP500) come out gradually, as a result the 6^th revision of UCPinitiated by ICC is on the way since 2003 and the UCP 2007 revision (hereinafter referto as UCP600) is adopted on Oct. 10^th in Paris Conference.UCP600, constituted by ICC on the basis of practical operation of documentarycredits combining the development of insurance, carrying trade and banking, is anotheraccomplishment after UCP500 and it is a historical progress. This thesis focuses on thenew stipulation, new changes and blank of UCP600, trying to provide enough theorybasis for the practice, which could make the import and export corporations completelymastered the UCP600 within less time, adjusted and developed its practical operationaccording to the latest revision, So they could stand in an advantageous position duringthe international trade. The study on the blank of UCP600 demands more in law, onlycorresponding rules and regulations being constituted to fill up this blank, Can allowmore regular documentary credits practices.This thesis is divided into 5 chapters. Chapter 1 summarizes the constitution,development and historical revision of UCP and its legal status in several typicalcountries. Chapter 2 introduces the adjustive objects of UCP, which changes from thedocumentary credits at the beginning to the documentary credits and standby letter ofcredits in present, and in the future would contain the electronic letter of credits.Chapter 3 elaborates the flaws of UCP500 such as the vague standard on maintainingthe original documents, the over-high risk of confirming bank under deferred paymentletter of credits and so on by analyzing and comparing several classic cases. Chapter 4 elaborates the betterments and changes of UCP600 in structure and content bycomparing with UCP500, studies on the suspending issues and leaks of UCP600, andoffers some suggestions on how to solve the foresaid issues. Chapter 5 starts with theblank of UCP600, combines with the existing law of China to study whether Chineselaw has any regulations on the blank and if there was, what's the content of suchregulations, hoping with which could make a positive influence on the constitution ofcorresponding laws in future.