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- Title
Fraud as a Reason to Book a Documentary Credit.
- Authors
Al Freihat, Mohammad Shafiq; Al Wahshat, Zaid Mohammad; Mohammad Balas, Hashim Ahmad; Abueid, Ala' Qasim
- Abstract
This paper explores the role of fraud as a compelling reason for invoking documentary credits in trade transactions. Documentary credits, commonly known as letters of credit, serve as crucial financial instruments facilitating global commerce. The Bank is committed to examining the documents submitted by the beneficiary but does not fully guarantee their integrity, so it is committed to achieving this benefit. While designed to provide security and mitigate risks, the prevalence of fraud in international trade poses significant challenges. In the event of the commission of these acts, the seizure is considered a means of executing documentary credits. The research concluded that the examination of documents takes place without the obligation to comply with the goods, and it has found that legislation will establish separate rules for the seizure of documentary accreditation.
- Subjects
FRAUD; INTERNATIONAL trade; FINANCIAL instruments; INTEGRITY; LETTERS of credit
- Publication
Pakistan Journal of Criminology, 2023, Vol 15, Issue 4, p213
- ISSN
2074-2738
- Publication type
Article