With the world economy and growing prosperity in the international trade process, the Letters of Credit (Letter of Credit, referred to as L / C) to become the most common one of the ways of international trade settlement, due to the involvement of bank credit has, its reliability and be strengthened, and it appears not only in a certain extent, resolved the contradiction between the seller and distrust, but also enable the two sides in the use of letters of credit clearing process of the purchase price to obtain bank financing facilities, thereby promoting international trade development. However, due to foreign exchange banks in the letter of credit only on the surface of the document for review, only just in line with the requirements and documents that match, rather than the review of the goods, it makes a number of unscrupulous traders take advantage of, resulting in letters of credit fraud to occur.
First, the main form of letters of credit fraud
Letters of credit are conditional bank guarantee of payment. Payment under the letter of credit, commercial credit transactions between the two sides into a bank credit, to avoid the "two-space-money goods," the fear that strikes a balance between buyers and sellers in large measure the risk, which greatly promoted the development of international trade. But the banks as a professional financial institutions, it is not possible buyers and sellers are reluctant to intervene directly in the basic transactions, but only through control of the shipping documents that the so-called "sale of documents" to balance the buyers and sellers of credit risk transactions.
Mainly refers to the letter of credit fraud in international trade payment and settlement of letters of credit (including letters of credit transactions and basic transaction), either the transaction or the deliberate creation of false impression that the truth, to induce other transactions fall into the wrong side awareness and behavior, and to seek illegal benefits behavior.
Letters of credit fraud have several main methods are as follows:
One of the ways: false letters of credit. Piracy banks are the main formats, counterfeiting bank seal, counterfeiting bank密押making a false letter of credit, the purpose of defrauding the beneficiaries of the goods or bank financing (packing credit).
The second way: no goods or inferior good filling. Because of the letter of credit payment is based on documents submitted by qualified payment terms, bank documents only "documents in line alone, in line" will be paid regardless of the status of goods, fraud often use letters of credit this characteristic, to induce the applicant to open a letter of credit through forged documents, documents or false information deliberately to produce a full set of documents in line, pay a negotiating bank fraud.
Three methods: false trading. Correlation between the issuing company, the opening of free trade in the context of the financing of the nature of letters of credit (for many long-term letters of credit), the purpose of issuing bank loan credit fraud trade financing.
The fourth way: Soft terms of the letter of credit. Soft Clause Letter of Credit also known as "trap" the letter of credit, "soft terms" letter of credit fraud is not a false letter of credit itself, but to use its entry into force, the payment terms in terms of hidden traps, so that payment can visit at any time issuing a unilateral act of the applicant's obligation to pay or be accompanied by the lifting of the beneficiaries it is difficult or impossible to provide the documents as carried out by the terms of payment for beneficiaries and negotiating bank fraud
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