Analysisofinternationaltradesettlementintheletterofcreditfraudcaseanalysis-毕业论文翻译

1、An alysis of intern ati onal trade settleme nt inthe letter of credit fraud case an alysisPaper Keywords: docume ntary letters of credit, goods right certificate, pack ing loa ns, n egotiate traps, soft terms, harsh terms, the issu ing deposit, pledgeAbstract: This paper summarizes a comprehensive a

2、nd systematic an alysis ofintern ati onal trade settleme ntin each sentence crim in als end, the use of letters of credit for the causes of financial fraud, according to China s financial,foreign trade made a deal with the actualsituationand prevent the use of letters of credit fraudcompiled releva

3、nt measures.As China joined the WTO and the increasing number of internationalexchanges, the acceleration ofglobal economic integration and the gradual deepening of international division of labor, payment of money betwee n coun tries, more and more cross-curre nt betwee n the world s thousands of d

4、aily occurrenee billion dollars in intern ati onal settleme nt bus in ess.The curre nt cross-border delivery of goods betwee n the huge amount of amaz ing turno ver mainly due to theisale of settleme nt in intern atio nal trade settleme nt in thecon sta ntlyuse of anirrevocableLetterof Credit(Irrevo

5、cableDocume ntaryL / C) andbond (Bon ds)Thetwoimporta ntbank products todocume nts(Docume nts)as a meansof payme nt,onlyto crossbetwee nthebuyers andsellers know eachothertoelimi nate thedistrust, the smoothrealizati onoftheexcha nge of goods and money (Excha nge).First, the basic con cepts of bus i

6、n ess creditLetter of credit bus in ess with a sin gle letter of creditis a bank accordingto the importer s requestandin structi onto meetthe letter of credit termsandcon diti ons, with the specified docume nts to the exporter to en sure payme nt of a conven ti on, so the letter of credit is the int

7、roduction of the credit line as a medium of con diti onal payme nt commitme nt on the premise that in general the beneficiarywithdrawals only match anddocument matches , which means to provide the documents comply with the terms of the letter of credit requireme nts, and by docume nts that all lette

8、rs of credit terms, conditionshave been executed. Therefore, theben eficiary (exporter) to deliver the docume nts con tai n a document of title (Titleto the goods). Importer (on Wang applicant) to the issuing bank (Issuing Bank) to obtain a full set of shipping documents after payment (shippi ngDocu

9、me nts) will obtai n own ership of the goods, however, eg letter of credit bus in ess itself there is a fatal weakness - that is prone to fraud, leading to the use of letters of credit for financial fraud cases often occurred and that was because the letter of credit operations are characterized by

10、the decisi on - the issu ing bank is in lineto submitdocume ntsfor thepayme ntterms, andjustmatch thesurfaceofdocuments,regardless of therealsituati onof thedelivery ofgoods,which for thosecrimi nalsto useshortletterof credit(No deliveryofgoods) of the false docume nts to the bank fraud risk hugeamo

11、unts of money while leaving the other hand, under the letter of credit bus in ess loa n package bus in ess, but also for some foreign trade companies of foreign suspects and criminalcollusion,or to financing, use offoreig n banks to ope n letters of credit to the n egotiat ing bank of false mortgage

12、 loa n, obta ining huge loa ns leave room.Two, L / C fraud reviewApril 1,1993 Water Street, Hebei Provi nee,Agricultural Bank of Chi na branch preside nt Zhao Jinrong regi onal cen ters, and others without un authorized copies of ope ning a 200-year, irrevocable and tran sferable $ 10 billio n theto

13、tal amount of sta ndby letters of credit, wasalmost colluded with crim in als at home and abroad un der the banner n ame of financing to bank fraud as a tool for huge amounts of money, once they succeed will enable our country to bear huge losses.Wuha n to Hong Kong in 1995 by the In dustrial Develo

14、pme nt Corporatio n Overseas Korea n thirty-one tradingcompa nywith tacit collusi on, out of acon firmati on of an irrevocable letter of credit with a si ngle spot, and Hubei Prov in ce, Cen tral Chi na Intern ati onal Trade commissioned companies to export a value of $ 43,000 bleached cott on quilt

15、 to South Korea. The foreig n compa ny is not aware of the facts in the case, to use their good relati on ship betwee n ban ks, to the letter of credit to the Wuha n branch of China Mercha nts Bank as collateral and packagedloans 250 yuan, accordingto thedouble allocated to thedesig nated age ncy co

16、n tractmanu facturers eleve n silk in dustrycompa nyin HubeiProv in ce, while afterwards,Wuha nPort In dustrialOverseasDevelopme ntCorporati on, the legalreprese ntative of peace, but secretly put all the money is now illegal to flight, has yet to be arrested and brought to justice.2000 by the Wuha

17、n City In termediatePeople sCourt heari ng a finan cial fraud case, a four-Chua n NandeChairma nMou Qizh ongHubei Prov ince Light In dustrialProducts Import& amp;Export Corporati on with asalesma ntacit collusi on, and collusi on un scrupulousbus in essme n,sig ned set of false import trade con trac

18、t,and the use of false import documents, defrauding the Bank of China Hubei Branch out multiple copies of the import of foreign Iong-termacceptaneeletter of credit,bank fraud from the total amount of up to more than twenty millio n U.S. dollars, although Mu Qizh onghas tojustice, sentenced to an ind

19、efinite period prison, but to the bank and in calculable foreig n trade compa nies in econo mic losses.2001, February 22, Y ouyi Wuha nIn termediatePeople s Court of Guangdong Lin Weizhe credit fraudand sentencedto 10 years in prison, coincidentally,the n ati onal fraud more tha n 30 milli on of ass

20、ets Jupia n, usedthe technique with the mainland s first lie said Mu Qizhong year letter of credit fraud methods are very similar, and both in Wuhan crime. Linwei Zhe Hubei Garment Import & Export Company prepaid $ 2 million, which commissioned the Bank of China, Wuhan Bran ch, Bank of China New

21、 York Branch out the amountequivale nt to 13.98 millio n yua n of credit in the U.S. corporate credit loans for U.S. companies will all be Lin Weizhe discounted cash deposited in their accounts the same time, Lin Weizhe means the basis of the same province of clothing out of the 2449 Import and Expo

22、rt Corporati on milli on yua n, accord ing to the letter of creditfor privateloans, in addition to import and export ofclothing was returned to private companies10 millionyuan and 6.5 million bond, Lin Weizhe Apparel Import & Export Corporatio n Hubei fraud were more tha n 30 millio n a profo un

23、d less on. http : / / en Third, an alyze the reas ons for the use of credit fraudThe generationof financial fraud cases and othercases, like the economy has profo und social and historical roots. It is the product of a variety of complex factors. Boththe socio-ec ono mic and political factors, there

24、 are aspectsof finan cial man ageme nt, mainly as follows:1, crim in alsexploit the use of the letter of creditbus in ess, the existe nee of defects or the use of bus in essrules to the letter of credit, or the unscrupulous traders and foreig n traders colluded with Hong Kong and Macao, through dome

25、stic and foreig n bank letter of credit issued by a variety of differe nt types, i n order to achieve finan cial The purpose of fraud.2, the banks engagedin internationalsettlementbus in ess part of the staff a sense of law, they only partially immediate, the bli nd pursuit of in ter natio nalsettle

26、me ntbus in essvolume and job performa nee,believe in therhetoric of fraudsters and sugar-coated bullets can not withsta nd the in vasi on, in money and sex before the lossof prin ciple, lack of assertive or can not sta nd crim in als and corrupt, leav ing crim in als an opport un ity.3, thelackof b

27、ank creditoperati onsstaff toimpleme ntvariousaspects oftrack ing,mon itori ngandcoord in ati onupon packagedloans money lendingcompa ny after just passively wait for the trade n egotiatio ndocume nts,or docume nts alone, the surface ofauthe nticity, bus in essdevelopme ntrathertha nsay,bli ndly all

28、ocated and desig nated to pay mon ey.4, head of the lack of strict finan cial checks, say inthe bus in ess details. Result ing in some staff because of the importa nee of relati on ships occupy a certa in positi on, they lack in international settlementshould have thetheoreticalkno wledgeand practic

29、al skills, etc. basicquality. This is the high in cide nee of finan cial fraud is one importa nt reas on.5, the social environmentbut also the financialsystem to produce the objective factors of fraud cases.Fourth, response and prevent the use of letters of credit for finan cial fraud measures1, the

30、 work should be based onfinan cialcharacteristics, and effectively use credit from the source to understandthe root causes of financial fraud andcharacteristics,preve ntio n and in tegrated man ageme nton the finan cial system to be con sidered within the same time tak ing a step forward to in creas

31、e the inten sity of law enforcement and disciplinethe judiciary to interveneindepth the major financial fraud detection,forensics andpublic trial, which is severe and the puni shme nt of crime, law, and discipline a powerful tool, but also to curb finan cial fraud cases occurred in an importa nt mea

32、sure.2, the banks shouldstrengthenthe company sexport creditin vestigatio n,to establishforeig ntradecompanies borrow funds credit files, master the foreign trade compa ny family property, assets, liquidity and asset-liability ratio. The balaneeis high, poor credit,import and export bus in ess dysfu

33、 ncti on al, or eve n in solve nt foreig n compa nies to strictly con trol the size and amount of credit in the ope ning of import letters of creditapplications, the required amount of foreign companies issuing deposits or provide collateral and guarantee to reduce the risk borne by the bank and eli

34、mi nate fraud risk.3, the banks should be strengthenedbetweenbanks and enterprises with foreign trade companies use to help importers FOB trade terms for the following transactions,Sinotrans by the well-knowninternationalcompa nies send out boats to the port of shipme nt pick-upor arrange matters, appear to effectively prevent the n egotiati on of docume nts false property docume nts - Bill of Lad ing (Bill of Lad ing) o and the importer before issu ing, issuing documents and after negotiation of the three man ageme nt rigor