外文文献及译文交易中的信用证欺诈及其可能的仲裁.docVIP

郑州科技学院 本科毕业论文 （外文翻译） 题 目 论信用证的软条款及自我防范措施 学生姓名 胡亚兰 专业班级 09级国际经济与贸易三班 学 号 院 （系） 经济贸易系 指导教师(职称) 王自娜 完成时间 2013 年 月 日 Fraud in the Letter of Credit Transaction and its Possible Arbitration Institute of Comparative Law McGill University Gernot Fohler Abstract The letter of credit continues to play an indispensable role in the financing and securing of international commercial transactions. Its usefulness and efficacy derives primarily from the fact that it is independent from the underlying relationship between buyer and seller. In a considerable number of cases, however, the independence of the letter of credit has been challenged as a result of fraud in the underlying transaction. After analyzing recent reforms of the regulatory framework governing letters of credit, this fraud exception to the independence principle will be reappraised in the light of current developments in Canada and the United States. Finally, the author argues that arbitration can and indeed should play an increasingly important role in the resolution of international letter of credit disputes involving fraud in the transaction. 1 About L/C fraud The L/C cycle operates in the following way: after a buyer and a seller have entered into a sales contract, the buyer applies for a L/C from an issuing bank. Upon receiving the L/C, the seller would check its authenticity with an advising bank. Having confirmed the L/C is correct, the seller exports the goods and prepares a series of documents such as Inspection Certificate, Bill of Lading etc., proving to its negotiating bank that the goods shipped are in accordance with the buyer’s standard. Before the negotiating bank releases money to the seller, it will check on face value that the submitted documents tally with the buyer’s instruction. Thereafter, the negotiating bank will