a. Fraud risksThe operation of lett

a. Fraud risks
The operation of letters of credit may be considered as an operation of documents. The related parties finish their responsibility based on those bill of documents. The only evidence for issuing bank is the strict compliance between documents and credits. As long as the documents are in strict compliance, the issuing bank has to pay. According to Article 34 - UCP 600:
“Disclaimer on Effectiveness of Documents
A bank assumes no liability or responsibility for the form, sufficiency, accuracy, genuineness, falsification or legal effect of any document, or for the general or particular conditions stipulated in a document or superimposed thereon; nor does it assume any liability or responsibility for the description, quantity, weight, quality, condition, packing, delivery, value or existence of the goods, services or other performance represented by any document, or for the good faith or acts or omissions, solvency, performance or standing of the consignor, the carrier, the forwarder, the consignee or the insurer of the goods or any other person.”
Therefore, importers may face on risks if the exporter has a fraudulent acts, fraud in the delivery such as: deliberate in delivery of poor quality goods , incorrect quantities ...
b. Quality risk
The quality risks, which importers should bear under the term of letters of credit, are that exporters trade
importers with the shoddy commodity. From the characteristic of documentary deal under the terms of letter of credit, the importer can get the whole set of documents to pick up the goods only after payment or discount.
Before this, the importer cannot know if the exporters provide the commodity with good quality. The importers will stand on the passive side. Moreover, if the importer find the quality problem of the commodity after payment or discount, it is hard to get the protection through the legal way.Besides, a deliberate exporters will submit fraudulent falsification of documents, appearance matching L / C for the actual bank that does not have delivery, the importer has to pay for Banks even in the absence of receiving goods or receive goods not conforming to contract.
c. Exchange rate risk
- No matter what kind of letter of credit (insight letter of credit or deferred letter of credit), there is a time distance from issuing letter of credit to the actual payment for importers. This long time distance may cause a big fluctuant of the exchange rate. If under the term of insight letter of credit, there is a time distance from the credit issuing date to consignment, and arrival of document in the issuing bank. Then also the time for documents examination should be closed. If under the term of deferred letter of credit, the time distance will add the time from acceptant date to expiry date.
- In international trade, the longer the time lasts, the more exchange rate risks exist. Once the exchange rate of paying currency increasing, the importer has to pay more than the anticipated amount. There is an adage that “exchange rate is more ferocious than tiger”, which describe the big risk caused by exchange rate.
d. Marketing risk
The import commodity may face a marketing risk, whether they are the material for re-machining or the goods which access the trade circulate directly. In case, the price of the same goods in domestic market goes down, then the relative price of import good rises up. It will affect the goods circulation of the market, and causes the overstock. Even the import goods, which used for re-machining, may also cause the high cost of the new finished product. These will lead the loss of importers.
e. Banks risks
The risk exists that there are discrepancies on the credit when they found the obviously discrepancies. Those discrepancies may come from the result of fraudulent document, and cause big damage to the bank and beneficiary. Article 34 of UCP 500 contain a disclaimer for the risks of bank. However, banks can be liable for losses and damages, if a bank does not fulfill its obligation to examine the documents in a reasonable way.

Results (English) 3:

信用证的操作可能被视为一种文件操作。当事人完成他们的责任基于这些账单文件。开证行的唯一证据是单据和信用证之间的严格遵守。只要单据都在严格执行，开证行必须支付。根据第34 UCP 600：
“对单据有效性的免责
银行不承担责任或责任的形式，充分性，准确性，真实性，伪造或任何文件的法律效力，或为一般或特殊条件中规定的文件或在其上叠加；也不承担的描述，数量，重量，质量，状况有任何责任或责任，包装，交货，货物的价值或存在，服务或其他性能的任何单据所代表，或为诚信或行为或遗漏，偿付能力，性能或发货人，站的载体，货代，收货人、货物的保险人或其他任何人。”
因此，进口商可能会面临风险如果出口商有欺诈行为，如：在交货时有欺诈行为，质量不好，不正确的数量，质量风险，进口商应承担的信用证项下，即出口商贸易的假冒伪劣商品的进口商。从跟单信用证条款的特点，进口商可以通过付款或折扣后得到全部的单据来提取货物，在此之前，进口商不知道出口商是否提供了优质的商品。进口商将站在被动的一边。此外，如果进口商发现付款或折扣后的商品质量问题，很难通过法律途径得到保护。此外，一个深思熟虑的出口商将提交虚假伪造文件，外观匹配的L / C的实际银行没有交货，进口商必须支付银行即使在接收货物缺失或接收不符合合同的货物。
C.汇率风险
-无论什么样的信用证（了解信用证或延期信用证），有一段时间的信用证付款给进口商的实际付款时间。这种长时间的距离可能会引起大的波动的汇率。如果根据信用证的期限，有一段时间从信用证发行日期到发货，并在开证行文件的到来。然后，还应关闭文件检查的时间。如果延期信用证项下，时间距离将从接受日期届满日期加时间。
-在国际贸易中，更长的时间，更多的汇率风险的存在。一旦支付的货币的汇率上升，进口商必须支付超过预期的金额。有一句格言：“汇率比老虎更凶猛，描述汇率的大风险。市场营销风险的进口商品可能面临市场风险，无论是重新加工的材料或直接进入贸易流通的货物。在情况下，同一商品在国内市场的价格下降，进口商品的相对价格上升了。它会影响市场的商品流通，导致库存积压。即使是用于重新加工的进口货物，也可能导致新的成品成本高。这些都会导致进口商的损失，即银行风险，即信用证存在差异时，他们发现明显差异。这些差异可能来自欺诈性文件的结果，对银行和受益人造成巨大损失。UCP 500 34条包含对银行风险免责声明。但是，如果一家银行没有履行其义务，以合理的方式检查文件，银行可以承担损失和损害赔偿责任。