Analysis Of The Credit Card Fraud Dispute Between Jiumao Company And Yonglian Company

Letters of credit as an international trade settlement, credit card fraud is alsoaccompanied by more and more attention from the international community. Forcredit card fraud, the introduction of the universal principle of fraud exception, in thepresence of substantial fraud confirmed letter of credit, which gives the bank the rightto refuse to pay the application by the applicant or stop payment order issued by thecourt to carry out relief. But whether it is the definition of credit card fraud or fraudexception applies principles, UCP600relevant provisions were not made, but left tonational laws to be adjusted, which led to the countries in dealing with a differentcredit card fraud disputes processing results.There are three main aspects in the credit card fraud dispute between JiuMaoCompany and YongLian Company. First, the identify of ANZ Bank ShanghaiBranch,Whether it is the eligibility of the negotiating bank or not. Articles fromnegotiating body to define, negotiate standards, as well as hours of negotiation andnegotiation mode, That designated bank before its reimburse the issuing bank forcomplying documents to make a purchase or agree t o purchase, can constituteeligibility for the credit, in order to determine the status of the negotiating bank ANZBank Shanghai Branch; Second, whether the YongLian’s behaviors constitute thefraud or not. The basis of the principle of fraud exception ap plies to the difination ofcredit card fraud, for the subject, malice, fraud, scope and extent of fraud. thusdetermine the behavior of the YongLian company; Third, whether the case of thecredit belongs to the exception of the fraud exception, whether th at payment should beterminated. We study the legal consequences of credit fraud and the appliance ofFraud exception exceptions,and combined with the actual situation of the creditresearch case, which case the credit card does not belong to a credit fraud exceptionexceptions,and the payments should be terminated.For the focus of disputes, the article clearly identify the negotiating bank undernegotiation credit standards, the standard of credit fraud and the applicable conditionsof Fraud Exception exceptions. Our country there are many problems in dealing withcredit card fraud disputes, such as the lack of a unified standard authorization ofcredit card fraud, lack of protection of bona fide third parties and stop payment ordersissued are too lax, hope that through the analysis of the case, causing concern for credit card fraud, and thus improve our credit-related legislation or judicialinterpretation, and promote the stable development of credit in China.