The Legal Nature Of The Import Bill Advance Under A Credit System

This article comprises 4 chapters as follows.On the basis of introduction of the source, the categories and the operation flow of inward documentary bills, the first chapter collect different requirements of the major banks in China about inward documentary bills and sum up the points of agreement and disagreement, then point out the core contradiction of this article: what relation exists between transfer of title and trust receipt? Whether the conflict exists between transfer of title and pledge/mortgage at the same time? In order to get at the facts, the next chapter discuss the Opening Bank take what right of document/cargo under L/C.The second chapter mainly discusses the Opening Bank's right, consisting of two parts. Firstly, through the different arguments about the legal nature of B/L, author maintain the research on B/L must be placed in different international trade fields, so B/L only have the function of security interest in L/C trade. Secondly, author analyzes major popular opinions, and then supports the opinion of Opening Bank having the right of pledge under L/C.The third chapter also analyzes two parts that one is the practice of not transferred possession in some typical countries; the other is the particular introduction of trust receipt. Author point out the errors that the vendee transfers the proprietary right to the bank through trust receipt while the B/L and the cargo is pledged to the bank again. Author indicates that the practice in the banks of China confuse the continental law system and Anglo-American law system.The last chapter compare two methods, trust receipt and assignment security, through which the bank give the documents to the applicant for a credit, and draw the conclusion that China should absorb the merits of the two systems theoretically but in fact had better take the assignment security with the third party's assurance.