The L/c Fraud And Legal Relief

The abstract independent princple as the basic of the letter of credit(L/C) makesL/C to be one of the main payment means in international trade.But with thedevelopment of international trade,L/C fraud occurs frequently,which damages serioulythe L/C mechanism and international business. Another rule become anecessary, namelythe L/C fraud exception. By discussing legal remedies of the L/C fraud, perfect ourcountry’s credit system. The first chapter mainly discusses the basic problem ofL/C,including t outline of the L/C and L/C fraud.The second part discusses the L/Cfraud exception, and analyses the right withhold payment of the bank and injunctiverelief.The third chapter analyses the present situation of our country L/C law, judicialpractice, existing problem as well as suggetions on perfecting the L/C law.