The Exception Systerm Of Letter Of Credit Fraud

Letter of credit dispute is very professional. After reform and opening up, with the rapid development of international trade, China's import and export traders quickly accepted the letter of credit payment, accompanied by many letters of credit disputes. Treatment at the letter of credit disputes, apart from the application of international practice, the majority still rely on domestic civil and commercial legal principles statute or by case law to adjust. These letters of credit disputes reflect the legal questions focused on: the letter of credit disputes the application of the law, including the International Chamber of Commerce "UCP600" specific application as well as related questions of application of domestic law; the letter of credit disputes involved in document review standards; the letter of credit fraud elements; court ruled that the suspension of payments under letters of credit conditions and procedures for payments problem and so on. But our country does not have a specific letter of credit laws and regulations, existing laws and judicial interpretations, only Minutes of Meeting of the letter of credit disputes to make some of the provisions deal with such cases when the people's court finds that at the facts, applicable law and the division of responsibilities on different interpretations exist, the domestic scholars in the letter of credit fraud on questions are how to protect both buyers and sellers from the perspective of research, but few to protect the legitimate interests of the banking aspects of the neglect of the Letter of Credit Issuing Bank, the legal status of negotiating bank.