Research On The Prevention And Judicial Remedy In Credit Fraud

The Commercial bank letter of credit is the international settlement tool of the banking circles and the commercial world, which develops for the solution international trading transaction all quarters litigant's conflicts of interest, and it's a great creation in the international finance history. Because the commercial bank letter of credit solves the crisis question between the buyers and sellers well in the international trading, and with the bank credit completes the international trading transaction. And so the Commercial bank letter of credit is honored as the crystallization of the merchant wisdom, and is analogized by many British judges as"the international commercial life blood"many times.But, the merchants do not sought the basis of the credit from the legal angle when they create this mechanism. And you can say, the letter of credit exists is the trade usage before the letter of credit law, the existence and development of the letter of credit have enriched the legal regime's system and content, and at the same time the law react it. The persons'recognition about the letter of credit has the direct relation to the interests between the issuing bank and the credit beneficiary, and thereby affects the interests of the credit applicants and negation bank and other related persons.The primary structure of this article: the first chapter plans to discuss, starting from that the letters of credit brings huge convenience for the international trade, the series of fraud questions which accompany the development of letters of credit. These letters of credit frauds are expressed by different forms, and bring enormous harm to the international commercial trade parties as well as the banks and so on. And then it will discusse the in-depth reason of the formation of letters of credit fraud from the theoretical level. And, this includes the objective reasons and the commercial persons'subjective reasons; and includes the reasons of hardware insufficiency and the reasons of low person-quality. The chapter second and the next chapter three are the core of this paper. Chapter three is about the various preventive measures of the credit fraud. Beside the traditional guard methods, this part will focus on the study of new forms of fraud prevention measures, the main aim is to establish a network information publishing platform and network security trade. And the next chapter will focus on the general principle—the letters of credit"fraudulent exception",which is much controversy. United Kingdom and the United States and other developed countries have introduced the"fraudulent exception"principle in international trade. But even so, in this issue these developed countries still hold different views. And the courts in dealing with the cases related to the"fraudulent exception"have different views. This chapter will introduce the British and American"fraudulent exception"principle, and will compare the two countries'system. Then the other hand, see Chinese current related system from some typical cases. And the other focal point of this chapter is the court injunction. This part will introduce the injunction of Common law and the protective measures of Mainland law, and compare them. And next, this part will give some views about Chinese court protective measures. Finally through the summary of this chapter first several parts, and put forward some views about our countries'"fraudulent exception"in practice which are drew from Common law.The fourth chapter will carry on the outline of the UCP600. With the rapid development of international trade, the development of the international trade practice and the world's political, economy, science and technology, the development of transport encourages the repair of the Uniform Customs and Practice for Documentary Credits, and today the UCP600 is promulgated and implemented, and regulate the world trade pattern instead of the UCP500. The regrettable thing is that UCP600 does not have the regulations about the letters of credit frauds. But, some small related repairs affect the handling of the problem of credit fraud.China has been in the international trade environment under the globalization. And China will create more suitable environment for the development of the letters of credit, and in the relevant legal regulations will have further development and perfection and will provide reliable legal weapons to combat the frauds.