Legal Research On Letter Of Credit Fraud Exception Principle In China

The principle of independent abstractness to ensure that the letter of credit to pay the safety and convenience,so that it can be widely used in international trade.It separates the letter of credit from the underlying transaction contract,for the emergence of letters of credit fraud provides a system gap.If not curbed will shake the letter of credit as a "international business lifeline" status,reduce the reliability and security of the letter of credit,weaken its original payment function.This paper is divided into four parts:The first part outlines the principles of fraud and the causes and causes of fraud;The second part analyzes the application of letter of credit fraud exception principle,paying particular attention to its application condition and exemption situation;The third part discusses the application of letter of credit fraud exception principle,discusses the possible problems in the practice of fraudulent fraud from the perspective of the bank's payment responsibility and the burden of proof of the parties and from the perspective of credit fraud;The fourth part discusses the application of the principle of Fraud Exception in L / C,and maintains a normative and applicable balance between the principle of letter of credit fraud and the principle of independent abstract of letter of credit,letter of credit fraud and letter of credit fraud,The perfection of the principle of fraudulent exception,presented some personal views.This paper focuses on the integration of theory and practice,combined with domestic and foreign norms and practice to provide a limited degree of innovative research.