A Study On Legal Issues On The Examination Of Documents Of The UCP600

Letters of credits transactions have been among the most popular international methods of payments, because they provide a relative degree of protection for both sellers and buyers. According to the UCP600, there are some developments for the letter of credits system, in my opinion, the most important one is the change of standard of the examination of documents, which adjusted the party's rights and obligations when they using the letter of credit, and also the changes have a great influence for the letter of credits legal system.The aim of this article is to provide a nutshell account of international letters of credit, with special emphasis on the examination of documents and the standards of the examination. The standards for the examination of documents are the basics to see whether those documents meet the requirements laid out in the letter of credit. Then the article provides the differences between UCP600 and UCP500's rules which about the standards of examining documents, and also some related rules of ISBP681. The article tries to find this mandate's reason, process and essential. Also the article provides some comparative research on the standards of examining documents; the conclusion is the UCP600 is an attempt to soften the doctrine of strict compliance and this is a move in tight direction for traders. And the article provides advices for our country's international trade and judicial practice, and the advices for perfecting our country's legal system of letter of credits. In the process of the analysis for the UCP600's standards of examining documents, the article classifies the examination rules into substantial rules and procedural rules, and using the several study methods such as comparative analysis, legal theory analysis, repudiation analysis and demonstration analysis.This paper is composed with mainly four parts: The first part provides summarize for the legal issues of the examination of documents under UCP600. This part includes the legal nature of the examination of documents, the comparative research of the examination between UCP600 and UCP500 and the characteristic of the examination of documents under UCP600. The second part is about the substantial rules of the examination of documents, which includes the format examination principle, the surface compliance principle, the standard of strict compliance and the ISBP. The third part is about the procedural rules of the examination of documents, which includes the eligible subject, the time limit and the avenue for the refuse. The forth part focus on our country's rules and legal system which about examination of document, and the UCP600's influence for our country's letter of credit rules. Finally the article gives some advice for the application for the UCP600's new standards of examination of document.