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Letter of credit transactions and risk legal research fraud

Abstract: Based on the letter of credit transactions, fraud, performance, behavior analysis, focusing on risk prevention for the international comparison, especially in the main have been classified in accordance with fraud in order to better analyze the credit risk prevention measures and ideas . Abstract principle of independent credit principles and exceptions in the trial practice how to protect the interests of both transactions is a \ Key words: credit; fraud; law; Strategies
The concept of a credit transaction fraud on the definition of letter of credit fraud, the national theorists say no one. International Chamber of Commerce UCP500 not a definition of fraud, nor to provide letters of credit fraud. In the Anglo-American statutes and case law on letters of credit fraud department did not specifically defined. Because the British and American judges that the definition in the cases is a dangerous thing. So in Britain, the general civil and commercial case to a common definition of fraud for writing thesis applies the definition of letter of credit fraud. That fraud is \① China, some scholars concluded: Fraud (Fraud in Letter of Credit), is the letter of credit in international trade (including letters of credit transactions and the underlying transaction), a party deliberately creating false or concealed facts, lured to other awareness of the party caught the error depends on the fact that the loss of their own property or to give up a valuable legal rights, to achieve the benefits from access to certain improper conduct for the purpose. Letter of credit fraud have narrow and broad sense. Generally speaking, it refers to all the letters of credit fraud, including the following single letter of credit and standby letters of credit and so on. Narrow sense, it refers only to documentary letters of credit fraud. Two categories Fraud classification of the letter of credit fraud, scholars rarely been discussed in detail. Some scholars ② will it be roughly divided into two categories: One is the false documents, including bills of lading, commercial invoices, insurance policies, certificates of origin, quality certificates,[link widoczny dla zalogowanych], inspection certificates, etc.; the other is forged letter of credit itself, or forgery, alteration terms of the credit. Which documents the highest incidence of fraud. And of which the majority of forged bills of lading to defraud. Forged bills of lading and mainly manifested as: making counterfeit bill of lading; dated B / L; renew and bespeak a bill of lading; use of guarantees in exchange for clean bills of lading. More basic is the performance style of the letter of credit fraud resulting type; Some scholars ③ from the fraud of the main parties that start with the letter of credit beneficiaries will be divided into self-seeking of credit card fraud, issuing the applicant to seek the letter of credit fraud, the beneficiary and owner of the letter of credit fraud conspiracy, the applicant and the issuing of letters of credit issuing bank fraud conspiracy types, and discussed in detail. Fraudulent letter of credit beneficiaries from seeking evidence. It is also known as the export side of fraud or fraudulent seller. It refers to the beneficiary or beneficiaries in the name of another person to use false or deceptive statements or counterfeit documents, fraudulent issuing bank, advising bank, issuing the applicant to obtain letters of credit under the bank payment letter of credit fraud. The letter of credit fraud in the highest incidence of a kind on behalf of a masters thesis is also a higher risk of a buyer. Specifically, it can be divided into a full set of forged documents, fraud in the documentation to make fraudulent statements, false documents and other parts of the case. To applicant from seeking a letter of credit fraud. It is also known as the buyer or importer of fraud fraud. It is mainly for the person to the issuing fraudulent or counterfeit applicant to applicant's identity, using fake letters of credit or \person issuing fraudulent legal status of applicants, to extort money purposes. Beneficiary and owner of the letter of credit fraud conspiracy. This fraud and fraud are referred to as hybrid of two of fraud or conspiracy to fraud. Because of this fraud because of the beneficiary and the owner of the common operations,[link widoczny dla zalogowanych], an increase of fraud person who has the ease of fraud, fraud on the people to be of greater harm and danger. The main manifestations are: forged document fraud; guarantees in exchange for clean bills of lading fraud; renew and bespeak dated B / L bill of lading and fraud. Issuing letters of credit applicant and beneficiary fraud conspiracy. Such performance to applicant fraud and collusion between the beneficiary, or fabricating false, or non-existent relationship between buyers and sellers, by so-called open letters of credit for the buyer, the seller called the issuing bank fraud submitted forged documents bank letter of credit, after dividing the spoils after the two sides away from the fraud. At this time banks have also become victims of credit fraud. This fraud is another split in two, one is the so-called non-existent buyers and sellers to trade as a means, and to extract money banks. The other is dedicated to the letter of credit fraud syndicate, pretend buyer or seller to the letter of credit fraud. Great danger of the bank. To applicant with letter of credit issuing bank fraud conspiracy. The performance of such fraud to applicant and the issuing bank collusion, the issue of \Under the letter of credit card payment fraud. Because of the involvement of the issuing bank, the greater the likelihood of success of fraud, fraud on the beneficiaries of a great, its Changbiaoxianwei \According to the victims of credit fraud the point of view, the letter of credit fraud can be divided into three categories: for exporters that the beneficiaries of letters of credit fraud; for issuing the import side that the applicant's letter of credit fraud; for banks parties including the issuing bank, negotiating bank, accepting and paste the existing letter of credit fraud, etc.. Letter of credit transactions to prevent fraud 3 Comparative Study of legal issues the letter of credit transaction fraud countries in the world of legal issues and practical legal circles attach great importance to the work of departments. Contemporary American credit experts DOLAN and British jurists Shimituofu and Denning and so this has been discussed. ④ letter of credit in international trade as the special status of such a mechanism comes from the unique role can not be replaced, but this role depends entirely on the abstract principle of independent protection. But this principle also for the unscrupulous traders left loopholes that can be drilled, as a hotbed for the breeding of fraud, deception, \In fact, in recent years, trade letters of credit in international trade fraud cases have occurred, incidents of such fraud is difficult to speculate the specific number, because sometimes the parties would prefer to quietly swallow the bitter pill and the courage to stand facing the public When embarrassment. Beneficiaries of many forms of fraud, but in most cases is not shipped or counterfeit goods posing real, while the submission of false documents. Write medical papers on behalf of abstract principles of the independent, as long as the surface, consistent with the letter of credit documentation requirements, the issuing bank to provide payment, without the constraints of the underlying transaction. Buyer bear the brunt of losses, it can only sue the seller under the contract of sale, but is extremely unlikely to recover losses. As a barrister Mr. Ye Yongfang in Taiwan called: \However, the issuing bank which has always been ignored, are still paid. The bank also plausibly claim, in the credit relationship, banks are concerned with documents rather than goods. \challenge, because in this case the beneficiary is clearly lost the right to obtain payment,[link widoczny dla zalogowanych], but the principle is the beneficiary of the wrongful act of connivance, to help the fraud's success. From the view of the general principles of commercial transactions, in which case stick to the principle of independence is clearly contrary to the abstract is fair and reasonable, the basic principles of good faith. Therefore raised the question: In this case, it should be allowed to abstract principles exist independently Exceptions to the application, in order to protect the interests of importers? And case law in some countries to make a positive response,[link widoczny dla zalogowanych], but the specific The principles of less than unity, can be said that the letter of credit law is part of Chiang Kai-shek at the development stage. Among them,[link widoczny dla zalogowanych], the Anglo-American countries, the relevant laws and court rulings are more representative, they affirmed the principle of Dulichouxiang premise, but also recognize this principle can not be applied ignoring the actual situation of international commercial transactions, in certain circumstances be allowed to have exception, the beneficiary is the main exceptions of fraud, this time, the abstract principle of full independence, absolute restrictions on the application, the buyer may request the court to ban intervention to stop banks making regular payments under the letter of credit. Anglo-American legal principles relating to letters of credit represent the development trend of the law, but also difficult to jump to conclusions, but this is after all an attempt. Difficult to trace the history of China's use of letters of credit, but you can believe that the widespread use of credit after the reform is to gradually develop. As thousands of years of feudal society, not all sectors of the formation of legal concepts or a sense of law. Mutual distrust between people, so there is a great credit crisis and moral hazard. Which business people with the use of letters of credit bank credit should be said in general. Because our legal system is not perfect, the service personnel level is not high and the lack of effective monitoring and many other reasons, China has become the hardest hit by the credit fraud has become a major victim of credit fraud. Moreover, foreign banks sued the international commercial bank to open a letter of credit that we do not pay on time, title of paper to write on behalf of the negotiating bank and the payment of non-performance line of duty, not to fulfill the responsibility of the guarantor does not fulfill the obligations of the acceptor have occurred and criticized the abuse of a ban on Chinese courts to intervene in the credit and so on. This is how the matter in the end it?
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