Legal Aspect of Documentary Letter of Credit Fraud in International Commerce

Legal Aspect of Documentary Letter of Credit Fraud in International Commerce

Documentary letter of credit is the most important payment method in international commerce. The purpose of a letter of credit is to share risks to the parties equally and provide confidence for payment. However, a letter of credit fraud disrupts confidence and creates risk for actors in internation...

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Veröffentlicht in:Teises apzvalga (Vytauto Didziojo universitetas) 2021, Vol.23 (1(23)), p.130-143
1. Verfasser: Ay, Yunus Emre
Format: Artikel
Sprache:eng
Schlagworte:
Commercial Law
International Law
Law, Constitution, Jurisprudence
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Beschreibung
Zusammenfassung:Documentary letter of credit is the most important payment method in international commerce. The purpose of a letter of credit is to share risks to the parties equally and provide confidence for payment. However, a letter of credit fraud disrupts confidence and creates risk for actors in international commerce. Therefore, it’s legal aspects are very important and shall be discussed in this paper.
ISSN:2029-4239
2029-4239
DOI:10.7220/2029-4239.23.7