Under A Credit Bill Of Lading Pledged Legal Issues

In letter of credit business, the bill of lading hypothecation brings great convenience not only to merchants but also financial capital for participating in international trade. However, in practical operation, since quite a number of links and parties are involved in the bill of lading hypothecation, also with the scarcity of the legislation in this field, more and more disputes arise from this type of hypothecation. In theory, the indeterminacy of legal issues on the bill of lading hypothecation also engenders a lot of differences between theory and practice for the understanding of these disputes. In this paper, by the way of theory with case, we study the related legal issues on bill of lading hypothecation under documentary credit, and propose forward-looking and compatible theoretical perspectives to encourage our legal theory to adapt to social and economic development needs.This paper is divided into four chapters. The first chapter is mainly about the definition and properties of bill of lading. In the second chapter, combining with practice, we analyze the category of permitted and prohibited types of bill of lading hypothecation, specifying the establishment, enforceable conditions and general legal effect of this type of hypothecation with further study. In the third chapter, we use cases to illustrate the bill of lading hypothecation relations between beneficiary and correspondent bank, beneficiary and issuing bank, issuer and issuing bank, clarifyng the hypothecation relations among different parties and relative legal effectiveness. The fourth chapter analyzes how can the pawnee realize his rights under different circumstances such as release of goods without pledged original bills of lading, pledge of bills of lading issued by a quality guarantee, pledge of ante-dated bills of lading, pledge of advanced bills of lading, pledge of straight bill of lading, etc., and provides some related suggestions.