Title Page
ABSTRACT
Contents
Chapter I. Introduction 11
1-1. Background of International Commercial 11
1-2. Purpose of Research 12
1-3. Status of International Rules of Letter of Credit 15
Chapter II. Introduction of Letter of Credit 18
2-1. Categories of Instrument of Payment in International Trade 18
2-1.1. Remittance 18
2-1.2. Collection 20
2-1.3. Letter of Credit 21
2-2. General Introduction of Letter of Credit 22
2-2.1. Principles of Letter of Credit 22
2-2.2. General Process of Payment of Letter of Credit 26
2-3. Risk Under Letter of Credit 27
2-3.1. Risk of Buyers 27
2-3.2. Risk of Sellers 29
Chapter III. Refusal of Letter of Credit 32
3-1. Introduction of Refusal 32
3-2. Reasons of Refusal 32
3-3. Notification of Refusal 34
3-3.1. Intentions of Refusal 35
3-3.2. Discrepancies in Notification of Refusal 38
3-3.3. Notification of Refusal Should Be in Line with the Prescribed Time 40
3-4. Discrepancy 41
3-4.1. General Conception of Discrepancy 41
3-5. Analysis of The Causes and Consequences of Discrepancies 45
3-5.1. Analysis of The Causes of Discrepancies 45
3-5.2. Consequence of Discrepancy 50
Chapter IV. Prevention of Discrepancy 55
4-1. Discrepancies in Letter of Credit Itself 55
4-1.1. In-depth Understanding of The Credit Status of the Issuing Bank and Customer 56
4-1.2. Meticulously Develop Sound Transaction Terms 58
4-1.3. Good Preparation of Goods and Supervise of the Letter of Credit 60
4-1.4. Do A Good Job of Examination and Correction of Letter of Credit 63
4-2. Discrepancies Caused by Modification of Letter of Credit 72
4-2.1. Different Situations of Modification of Letter of Credit 72
4-2.2. Prevention of Discrepancies under Change of Letter of Credit 75
Chapter V. Solution to Discrepancy 80
5-1. Reviewing Discrepancies Carefully 80
5-1.1. Whether the Discrepancies Raised by Issuing Bank Are Based on International Practice and ISBP 81
5-1.2. Whether to Meet the Premises of Discrepancies Raised by Issuing Bank 81
5-2. Whether the Documents Can Be Changed 82
5-3. Paying Close Attention to the Whereabouts of the Goods 84
5-4. Negotiating with the Issuing Applicant Actively 84
5-5. Price Reduction or Finding Another Buyer 86
5-6. Refund of Documents and Goods 87
Chapter VI. Conclusion 88
Reference 94