Study Of Credit Card Fraud Judicial Relief

Since L/C was created in 19^th century, it has developed quickly and widely used in international trade. L/C not only keeps the international trade safe and stable, but also promotes its development, so it is called trade blood. According to statistics of International Chamber of Commerce, the trades which were settled by L/C account for 70% of them. But L/C is not perfect. Because of its individual abstract principle, L/C fraud is more and more serious, which has become an international problem. L/C frauds not only make banks and manufactories great loss, and lead to wrecks to international trade, but also affect the safety of finance system. Especially for China, with China's entering into WTO and the development of foreign trade, China has become one of the worst influenced states by fraud in letters of credit transactions. As a result, studies on how to make judicial remedy against L/C frauds are quite important theoretically and urgent in practice either for the international society or for China.This article addresses the judicial remedy about L/C fraud from the perspective of theory and practice with the methodology of comparative, rule, pragmatic, and history and logic analysis. This article includes one preamble, four chapters and one conclusion section.Preamble: the preamble mainly introduces the general description of fraud of letter of credit and judicial remedy, the current theories and practices in china, and explains the value of research in this area.Chapter I : This chapter introduces the conception and reasons of fraud about letter of credit, also introduces the conception and characteristics of judicial remedy.Chapter II: This chapter introduces the theories of judicial remedy: fraud exception principle of letter of credit, such as the establishment of the principle, the analysis in law, applying conditions, and exclusion conditions.Chapter III: The chapter introduces the practice of judicial remedies in detail, mainly including stop order of payment in Anglo-American law system and judicial preservation in continental law system, what is more, contrasts the two law system. Chapter IV: Upon analysis and review on the present legislation domestic and abroad, judicature and current problems of credit in china, the author puts forward some suggestions on perfecting the legislation of our country: make new perfect judicial explanation as soon as possible, including how to assert the fraud, the demand of proof, the compulsory measures, the jurisdiction and so on; import the institution of injunction from the common law countries; heighten the demand of proof and strictly governed the condition of remedy; attach great importance to protect the benefit of the third party; setting -up the procedure of protecting the person concerned; heighten the specialized timber of the judges.In the end, the author sets a summary of the main points of the article.