| L/C is one of the most widely used means of payment in international trade. Credit initially confirmed with the development of commodity economy, expanding the scale of international trade and bank gradually to participate in the settlement and the formation. In the 13th century, some of the London merchants sent to the European procurement of goods, purchase a relationship between businessmen issued letters to a, carried by the buyer, the businessman in an amount of money are allowed to purchase receipt to receive cash, and agreed way to repay the money owed. This letter of credit has been in use until the beginning of nineteenth Century. Then the British created a modern sense of credit. Therefore, letter of credit (letter of credit, L/C) is a British businessman of the greatest creations, is known as "the blood of international trade". However, there is no one kind of system is perfect. In the credit system, there is no guarantee that the rights and interests can not be guaranteed. Which of the negotiation of rights would tend to be ignored, especially in the face of L/C fraud, the goodwill of the negotiating bank interests it is difficult to be protected, due to the lack of protection against negotiating rights of legal norms, leading to suffer some losses in the credit process, but the fundamental reason lies in the negotiating bank’s legal status in the letter of credit process are not clearly defined. Because of the legal status is not clear, and the different legal status and corresponding different rights and obligations, which makes it is difficult to through clear norms to protect the negotiating rights and interests. Furthermore, because the negotiation of rights and obligations of each country sets are different from each other, even within a single country have different conventions, so in the international trade, it is prone to conflicts of interest.It is difficult to determine the legal status of the negotiation bank is in the credit dilemma and to make clear the necessity, this paper will study the problems of the legal status of credit in the bank.In this paper, the question of the legal status of credit by the negotiating bank were studied. This paper is divided into four parts to study. The first part is a brief introduction to the credit and UCP, as well as the definition of negotiation in UCP500 and UCP600. Discussing the nature of the negotiation and discriminating analogous concepts of negotiation. The second part and the third part is the core part of this paper. The second part is the discussion of the legal status of the negotiating bank. Introducing the four theories about the legal status of the negotiation bank and the author’s understanding of them.At the same time, the author puts forward the personal opinions on the legal status of the negotiating bank. The third part, on the foundation of the independent status of the second part of the negotiating bank said, to negotiate for the independent status of the eligibility conditions and enjoy rights, should fulfill the obligation to make analysis including controversial negotiating bank recourse problems. The fourth part, the author will present the status of Chinese credit specification were introduced, the problems found under the existing situation. It is necessary for the legislature to enact law on the credit system, and make some suggestions. In today’s international trade developed, Chinese enterprises should also pay attention to the understanding and use of business practices, the use of the relevant provisions of the international perspective of UCP600, to reduce the trade dispute and more smoothly into international trade environment, achieve broader development. |
