On Letter Of Credit Fraud

Letter of credit is an important clearing and payment tool in international financial and trade areas, it not only resolved the problem of mutual distrust, but also provides the financing facilities to the two parties in trade. However, letter of credit has also been used by some unscrupulous traders as well as it plays a major role in international trade. Rampant letter of credit fraud impact on the normal international trade and financial order seriously, they have brought tremendous harm to the international economic and trade activities. So, it is imperative to give close attention to the research on letter of credit fraud from the aspects of law and trade.The thesis has a systematic analysis of letter of credit fraud. First of all,the thesis try to explain the definition, Legislative characteristics and the comprehensive understanding of the letter of credit fraud, pointing out that the definition of letters of credit fraud should be based on the specific provisions and theory of the Criminal law, "inclusive" provision should be affirmed, it can guarantee the stability of the law provisions, can not indulge other similar criminal conduct, and the legislative understanding of the article 195 should be based on the overall consideration of the former part and the middle part of the article, because the former part can not be separated from the middle part when distinct if the act is belongs to the letter of credit fraud. Then, the thesis is started with how to understand the forgery and alteration, invalidated letter of credit and cheat letter of credit, analysis's fraud by using a forged or altered letter of credit or any of its attached bills or documents,the deferent kinds of manifestation of using an invalidated letter of credit to fraud,the specific act of using the cheated letter of credit to fraud and the other ways of letter of credit fraud. This thesis comprehensively analysis's each type of fraud based on basic theoretical research on letter of credit fraud. With a view to clarifying the long-standing blurring issue in theory and practice of letter of credit fraud.