Legal Issues On The Safety Of Electronic Letter Of Credit In International Trade

The use of electronic letter of credit has changed the traditional mode of operation of the letter of credit, it conforms to the trend of electronic in the development of international trade, and the same time, it has a great advantage in simplifying the transaction process, reducing documentation errors, improving transaction efficiency. As a new payment method, electronic letter of credit becomes more important in international trade. However, the electronic payment way also has lots of safety problems, such as payment system security, confidentiality and integrity, parties' identity authenticity etc. This article attempts to discuss the legal issues on the safety of electronic letter of credit, try to find how to provide legal protection for the safety of electronic letter of credit, and then put forward suggestions of improving China's legal system of electronic letter of credit and e-commerce. Of course, these safety problems cannot just rely on legal ways, it should be placed in the environment of electronic commerce in combination with technical means to solve.