Thesis On The Legal Regulation Of The Bank Dishonored Right In China Under The Rule Of Ucp600

With the development of the international trade, the letter of credit plays a more and more important role by its delicate commercial system, which exerts an irreplaceable international payment effect. As the matter of our economic transition, the letter of credit grew up a little late, which far behind other countries. Further more, our local banks have being accused of unreasonable dishonor and excessive judicial interference, causing a bad influence on our banks’credit and courts’ authority. As a large trading country, we account a large proportion in both quantity and the amount of money, paying high attention to the transaction security as well. But the problems which UCP600difficult to resolve, such as the dispute problems in practice, the eluded and solved problems by the local laws, make our bank facing unsure factors, and their own interests and imperfect legal regulation drive the banks abuse of the dishonor right by discrepancy and the court intervene by judicial means. So this paper starts with the problems above, learns from the foreign advanced experiences, considers our national conditions, and proposes solutions in the end.Chapter one in the article introduces the researching purposes and meanings and the current situation at home and abroad. Chapter two summarizes the bank dishonor in the ways of definition, and generalize its content about the inborn right in the face of discrepancies and the acquired obligation in the face of dishonesty. Thus classifies the right of bank dishonor into two types:the right from their own and granted by the courts, and outlines the relationship between bank dishonor and UCP600.Chapter three analyses the current legislation of bank dishonor from substantive law, procedure law and relevant judicial interpretation based on internal cases, and attributes problems to abusing discrepancy and excessive judicial intervention due to the loosely stop-payment order, analysis on these existing problems at the same time. Chapter four presents foreign experience of dishonor relating to typical cases and authority theories such as America, England, Germany and Japan, reflecting their cautious attitude.Chapter five addresses three levels of polices from legislation, case introduction and industry self-discipline, complementing abstract and controversial questions in UCP600by judicial interpretation, solving the problem of fraud in letter of credit left to the national laws by consummating existing foreign trade regulations, and preventing abusing discrepancy and interposing excessively by guiding discrepancy judgment, defining substantial fraud and raising standards of stop-payment order and remedies procedure, in order to perfect legal regulation of the right of bank dishonor.