Relief System Of Credit Fraud In International Trade Research

With high development of world economy and technology, finance is making a more and more important role. Not only in developed countries, but also in developing countries, Letter of Credit is a chief means of payment between buyers and sellers of different countries. For example, in our country, L/C is adopted by 50% of people in international trade. However, Independence and Abstraction Principle of L/C have aggravated the difficulty of risk guard and financial supervision. More and more L/C Fraud cases happen in the world, especially in developing countries. These cases can cause huge harm to the bank and the buyers. Therefore, it is necessary for us to have a good study on L/C fraud and other related system. Also, I want to study them in order to instruct the judicature system of L/C fraud in china.Besides preamble and conclusion, this thesis contains three sections, the main part of which has about 30,000 words. I elaborate the theme from the perspective of Law Theory, Civil Law and Comparative Law.The first chapter is divided into four sections: Emphasis of the first section is put on the definition of "fraud", then author's point of view are made; furthermore, the connotation and extension of L/C fraud are discussed in the second section; and then, from the perspective of practice, more detailed standard of L/C fraud are proposed. Last, I make my remark on the main cause of L/C fraud (the principle of Independence and Abstraction).Chapter II is the focus of this thesis. It is divided into three sections, in section I, I discuss the theory basis of L/C fraud (fraud exception), and then the remedies of bank and court are analyzed in great length.In Chapter III, I study the legislation and judicature situation of L/C fraud in China, and then propose improvements on it.