A Comparative Study of the Fraud Exception Rule of Letters of Credit: Proposed Amendments to the Chinese Credit System.

摘要

This thesis deals with the fraud exception rule of letters of credit, especially focusing on the proposed amendments in Chinese credit system based on a comparative study. In order to reasonably prevent fraud in letters of credit, and to protect the effectiveness and efficiency of credit system, this thesis firstly examines the premise, reasons and foundations of the fraud exception rule, and then analyses its legal philosophy, application criteria and judicial remedies. Finally, based on a comparative study of different domestic laws and the UCP rules, this thesis examines the existing defects and provides proposed amendments of the Chinese credit system in both procedure law and substantive law. In developing this thesis, the author plans to employ comparative, critical, theoretical and prescriptive methodologies.