The Study Of Letter Of Credit Fraud Exception

Settlement with a letter of credit,the buyer and the seller of the risk problem is resolved.International trade buyers and sellers,often not in the same country,there is time and space between delivery and payment.With the letter of credit payment,adding the mutual trust between buyers and sellers.It is the product of practice,rather than the legal fitting,it is in the process of circulation by a variety of business practices formed by the rules and practices of the guidance and constraints,and the parties between the rights and obligations there is no uniform norms,Therefore,will inevitably lead to disputes and disputes.The principle of independence of the letter of credit has its own can not change the defects,if not according to the actual situation is generally applicable,is bound to cause damage to the interests of the applicant.Therefore,when there is a letter of credit fraud,there will be exceptions,this is the letter of credit fraud exception.Fraudulent loopholes can jeopardize the credit of the letter of credit,if not properly applied,but also cause the principle of the independence of the letter of credit damage,it also provides a exception to the exception of fraud,it knows what subject in what circumstances can not be defended Influence,adhere to the principle of independence,you can continue to ask the issuer to pay,to prevent the abuse of fraud exceptions,reflects the principle of independence in the letter of credit in the position.