Studies On Legal Issues Of Ocean B/L Pledge Under L/C Settlement Of Exchange

With the development of integrative economy,the way and procedure of international trade are becoming more and more perfect and unitized in different countries all over the world.The way which uses L/C settlement of exchange has already been adopted by a great majority of nations and regions.L/C has become the most extensively and the most importantly way for medium of payment.This thesis has summarized the application of L/C and the legal nature of B/L as well as the meaning of B/L pledge.The circulation of documents under L/C settlement of exchange relates to not only the business parties but also the carrier,the issuing bank who issues L/C basing on the applicant' application,the informing bank who verifies the L/C and delivers it to the beneficiary,the negotiating bank who checks the B/L and the L/C then deducts the interest and pays for the seller and the payment bank who pays after verifying the L/C and the B/L,etc.The selling party(the international trade exporter)loads cargo and prepares various shipping documents(mainly ocean B/L)according to the L/C request,issues a bank draft and sends it to a local bank(the negotiation bank)for negotiation.The negotiation bank pays for the sellers after verifying the documents and deducting the interest according to the bank draft.Then the negotiation bank mails the bank draft and the documents to the opening bank(or the appointed payment bank)for payment. The opening bank(or the appointed payment bank)pays for the negotiation bank and informs the applicant(the international trade importer)to pay for the documents.In the process of the documents circulation,the B/L operates pledge function in the negotiating bank and the opening bank.The important part of this thesis introduces the process of the B/L circulating among the banks,its pledge function,its legal affect and some suggestions about consummating the pledge function basing on the practice.The main problems arising from the B/L pledge function lies in the phenomenon that different banks operates differently in import and export at present,some banks don't have any provisions in this aspect indeed.The key issues this thesis tends to resolve is causing thought of national practice of relating issues through introducing the foreign entrusting system. We expect this thesis would be useful for reference about the B/L pledge function in the circulating under L/C system.In the end this thesis concerns on the legislation and construction of legal system about the meaning of B/L pledge under L/C system.