Issuses On Application Of Electronic Letter Of Credit

Recently, e-commerce has been developing rapidly in the world. The application of e-commerce technology has greatly facilitated international trade. With the development of international trade and complication of the its layout and the multiplication trend of L/C, the application of L/C has been revealing its limit. These shortages not only severely constraints the healthy development of international trade, but also pose challenges to the reign of L/C in international clearing. So that it must be reformed to survive in the era of e-commerce, then eLC comes out to meet the need.On the basis of the advantages of the internet, the eLC breaks through the clearing limit in international E-commerce in a convenient and effective way. However, due to the imperfect technology and relative laws, the operation of the eLC has brought about quite a few new security problems, and certainly new law risks followed. This dissertation analyze obstacles to the electronic processing of L/C and the new problems from the changes in the traditional international trade which caused by the application of eLC and various electronic documents on the basis of its operational level, and tries to make some appropriate recommendations, hoping that it will promote the application of eLC and also the development of current electronic commerce.This dissertation is divided into five parts totally, the first part explores the significance of this research, the relevant literature review and evaluation, research content and frameworks, research methods, innovations and inadequate. The second part was detailed to introduce electronic letter of credit concept, the development history and the fulfillment condition of the electronic letter of credit in all countries. It says that the real letter of credit must conclude electronic-opening, electronic-notifying, electronic-delivering, electronic-checking up and all the tache must be electronic. Currently, the most affective and electronic letter of credit service system is the Tradecard, Bolero and service system of cceweb's, and the west three greatest electronic commerce companies. In China, the operation of eLC has not been achieved. The eLC is the revolution of documents dealing, and it greatly efficiency the bank's business and builds up the ability of risk defense. To some point, it is a big progress of the international trade realm, but it has not been commonly used. The third part of this dissertation will analyze the barriers to the operation of eLC which compared with the traditional L/C. Such as the barriers of electronic presentation, the electronic documents can not realize their function and so on. And a bill of lading is a document of title to the goods, but how to realize that function in an electric environment is the biggest obstacle relating to the use of electronic bill of lading, so this dissertation will mainly analyze this problem. The fourth part mainly expatiates the security and law problems of eLC, such as the risks for transmitting the electronic messages, whether the electronic signature has the legal effect or not and how to attest the electronic record etc. Chapter five makes some solutions to the problems and obstacles that analyzed in the front of this dissertation, and propose some preliminary suggestions about the legislation of eLC.In a word, this dissertation is from the level of the actual situation, to consider the application problem that the eLC meet, and resolve to put forward the project for it, hoping that the kind of eLC payment way can be really promote the development of the international trade.