Ucp600 Art.4 Documentary Letter Of Credit Legal Problems Under Study

Widely Used as a settlement instrument. letter of credit(here in after abbreviated as L/C)plays an important role in international trade. According to the UCP600. There are some developments for the letter of credits system, in my opinion, the most important one is the change of standard of the examination of documents, which adjusted the party’s rights and obligations when they using the letter of credit, and also the changes have a great influence for the letter of credits legal system.The aim of this article is to provide a nutshell account of international letters of credit, with special emphasis on the examination of documents and the standards of the examination. The standards for the examination of documents are the basics to see whether those documents meet the requirements laid out in the letter of credit. Then the article provides the differences between UCP600and UCP500’s rules which about the standards of examining documents, and also some related rules of ISBP681. This thesis expatiates on the examining standards which should be followed by the qualified examining subjects systematically and describes the responsibilities when someone violates the examining obligations. Meanwhile, examining standards and principles, the difficulties of examining field, are also studied via the contrast of all kinds of different examining principles. What’s more, starting with the unconformities of the bills, the author also makes proper researches on the understandings and applications of "Strict Compliance" principle to find out the perfect combination of law theories and law practices in examining principles.By applying the research methods of the law explanations and contrasts and integrating the latest ISBP, UCP, domestic laws and relevant prejudications, the author also makes thorough research and analysis on relevant legal problems of the bills of L/C.Paper focus on our country’s rules and legal system which about examination of document. and the UCP600’s influence for our country’s letter of credit rules. Finally the article gives some advice for the application for the UCP600’s new standards of examination of document.