Question

英语翻译信用证是国际贸易中运用最为广泛的结算方式,由于它以银行信用为保证,以银行独立性付款责任为基础,因此具有一定的可靠

Answer 1

Letter of Credit is a form of monetary settlement most widely used in international transactions.L/C has a certain degree of reliability and safety due to the fact that it is guaranteed by the bank’s credibility and independent payment responsibility.However,Letter of Credit is not confined to the basic trading contract,the primary payment responsibility is borne by the issuing bank and the bank only examines the documents,these three major features are loopholes that can be exploited by unscrupulous traders resulting in repeated occurrences of L/C fraud cases.Only by understanding the causes and the form of L/C fraud cases can strong preventive measures be adopted,and effectively suppress L/C fraud cases in accordance with the laws.