The characteristics of the letter of credit
来源：互联网整理 |
2020-03-15
(2)Althoughtheletterofcredittotradecontractsforthefoundation,butonceitopened,itbecameindependentofthecontractotherthanacontract."UCP500"provisionsofsection3oftheletterofcreditmaybeusedasthebasiswiththesalescontractisindependentofeachothertransactions,evenifthecontractmentionedin
(2)Althoughtheletterofcredittotradecontractsforthefoundation,butonceitopened,itbecameindependentofthecontractotherthanacontract."UCP500"provisionsofsection3oftheletterofcreditmaybeusedasthebasiswiththesalescontractisindependentofeachothertransactions,evenifthecontractmentionedinthelettersofcredit,thebankshasnothingtodowiththecontract,andnotbeboundby.Thus,allthepartiestorelyoncredittermsoftheletterofcreditact,aletterofcreditasthesolebasis.Iftheexportstothefullyconsistentwiththeprovisionsoftheletterofcreditdocuments,wecanguaranteethesecureandrapidexchangeearnings.Exporttofulfiltheirtermsoftheletterofcredit,andlettersofcreditissuedwithtermsconsistentwiththedocumentation,anddoesnotguaranteethathefullyperformthecontract,onthecontrary,iftheexportsidetoearnestlycarryoutthecontract,butfailedtoprovidethedocumentationconsistentwiththeletterofcredit,Bankswerealsodishonour.
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