| As a means of settlement, Documentary credit has been commonly used in international trade for its banking worthiness, less risks and financing offering. Documentary Credit follows《Uniform Customs and Practice for Documentary Credits》which is widely adapted by international banks,authorities and trade companies. Combined by concrete cases, this paper, by analyzing theories and cases, studies rules and key points of complying presentation under UCP600 and analyses discrepancies from the point of view of banks, seeks measures to minimize and handle discrepancies in order to honor the bank credit and secure funds received.This paper comprises of five chapters. ChapterⅠintroduces researching aims, significance and current situation. ChapterⅡdiscourses fundamentally on UCP600 and documentary LC and gives rise to LC concepts, characteristics and development, mainly discusses on LC types, processing progress and common documents. ChapterⅢelaborates on rules of complying presentation, which is one of the main content. Through comparison of standard banking practice for examination of documents, this paper draws the conclusion that strictly comply and substantial comply are not scientific and external standards under UCP600. By analyzing article14 of UCP600 with references to cases, this chapter concludes the checking standard of UCP600 is to examine documents appear on their face constitute a comply presentation by combining with ISBP and LC expert's advices and making references to arbitration award of existed cases. ChapterⅣtries to seek protective measures by studying document discrepancies. This chapter analyses LC settlement risks esp. documents risks and raises concrete suggestions upon the condition of discrepancies put forward by the negotiating bank and issuing bank and the issuing bank's rejection, and finally discusses the methods of handling LC disputes. ChapterⅤconcludes the influences of UCP600 on LC settlement and looks forward to the future of documentary credit. |
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