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Risk situations of Letter Of Credit
Sources:International Trade Law, Time:2015-01-06 16:36, Click:, Comment
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Fraud Risks
  • The payment will be obtained for nonexistent or worthless merchandise against presentation by the beneficiary of forged or falsified documents.
  • Credit itself may be funded.
Sovereign and Regulatory Risks
  • Performance of the Documentary Credit may be prevented by government action outside the control of the parties.
Legal Risks
  • Possibility that performance of a documentary credit may be disturbed by legal action relating directly to the parties and their rights and obligations under the documentary credit.
Force Majeure and Frustration of Contract
  • Performance of a contract
  • Previous term:Letter of Credit:How Letters of Credit Work

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