| The legal relationship of L / C fraud involves multiple parties and has a complicated structure.The determination of the standard of letter of credit fraud is the core part of the judicial response to letter of credit fraud.The strengthening of the objective standard of L / C fraud requires the practice of clarifying the constituent elements of L / C fraud and summarizing the substantial standards of L/ C fraud.In addition,as a remedy for letters of credit fraud,many countries have created rules for letters of credit fraud exceptions in response to malicious chargebacks from banks.At the same time,in order to protect the interests of bona fide third parties,an exception to the letter of credit fraud exception has been set up.These series of rules together constitute the rule system of letter of credit fraud.As far as the classification of L / C fraud is concerned,it is mainly L / C fraud and document fraud in the basic transaction stage.Letter of credit fraud is mainly due to the independent abstract principle of the letter of credit and the principle of surface conformity,the legal system of the letter of credit and the authenticity of the document and the three factors contributing to the common cause.The harm of letter of credit fraud is far-reaching,and this harm is all-round,not only involving international trade itself,but also a poison for the modern financial system on which the letter of credit relies.In the end,the letter of credit fraud shakes international trade relations and the modern commercial credit relations on which they depend,and induces anti-globalization.The letter of credit fraud system is not originally created by China,and the United Kingdom and the United States have rich practical experience in this regard.The US letter of credit fraud was established by the Sztejin case.Subsequently,Uniform Commercial Code of the United States by retelling the rules of the letter of credit fraud in judicial practice,more systematically stipulated the letter of credit fraud,fraud exceptions and their specific operations.Due to the independent principle of credit and the principle of strict conformity,the case law of all courts in the United Kingdom often requires a comprehensive examination of the identification of letters of credit fraud:(1)the facts of fraud are clear;(2)respect the legitimate rights and interests of beneficiaries;(3)The uniqueness of the evidence.China’s letter of credit fraud system needs to be improved from both substantive law and procedural law.In terms of substantive law,the composition of fraud in civil law is of great significance for the determination of fraud in letters of credit.In terms of procedural law,in addition to the letter of credit fraud,in addition to improving the provisions on preservation in the Civil Procedure Law,the specific circumstances of emergency situations can be clarified.In addition,a ban on letter of credit fraud can be created.Finally,granting the counterparty the right to appeal and clarifying the third party’s legal status and identification scope can also play an important role in improving the letter of credit fraud rules. |
