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The fraud exception in letters of credit : the Chinese approach
Other Title(s)
استثناء الاحتيال في خطابات الاعتماد : المنهجية الصينية
Joint Authors
Source
Issue
Vol. 2017, Issue 3 (31 Dec. 2017), pp.1-13, 13 p.
Publisher
Qatar University College of Law (Previously) / Qatar University Qatar University Press (Currently)
Publication Date
2017-12-31
Country of Publication
Qatar
No. of Pages
13
Main Subjects
Abstract EN
In 2005, the Supreme People’s Court (SPC) introduced new provisions relating to letter of credit (L/C) transactions in the People’s Republic of China (PRC).
This paper will examine the effectiveness of the new provisions concerning the L/C fraud exception rules.
The issue is whether the Chinese view of the fraud exception, which was introduced by the Uniform Customs and Practice Model Law for Documentary Credits (UCP), is effective and in line with accepted international views.
To that end, this paper will explain the provisions and then employ a comparative approach.
It will briefly compare Chinese fraud regulation with English and U.S.
jurisprudence and measure effectiveness by noting the prevailing English and U.S.
views.
This analysis is timely because China is gaining momentum in its economic development; hence, the attitude of Chinese courts concerning the issue of trade financing with L/Cs is important.
The conclusion is that, in general, Chinese regulations are in line with international jurisprudence, and therefore, the reforms are working overall.
However, some gaps or questions give rise to uncertainty.
This paper suggests that the gaps need to be resolved either by courts or through further regulation by the Supreme People’s Court.
American Psychological Association (APA)
Ding, Yeming& Zeller, Bruno. 2017. The fraud exception in letters of credit : the Chinese approach. International Review of Law،Vol. 2017, no. 3, pp.1-13.
https://search.emarefa.net/detail/BIM-842149
Modern Language Association (MLA)
Ding, Yeming& Zeller, Bruno. The fraud exception in letters of credit : the Chinese approach. International Review of Law No. 3 (2017), pp.1-13.
https://search.emarefa.net/detail/BIM-842149
American Medical Association (AMA)
Ding, Yeming& Zeller, Bruno. The fraud exception in letters of credit : the Chinese approach. International Review of Law. 2017. Vol. 2017, no. 3, pp.1-13.
https://search.emarefa.net/detail/BIM-842149
Data Type
Journal Articles
Language
English
Record ID
BIM-842149