Legal aspect of documentary letter of credit fraud in international commerce
Keywords:Documentary Letter of Credit, Fraud, Payment Method 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 international commerce. Therefore, it’s legal aspects are very important and shall be discussed in this paper.
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