Bill of Lading in the perspective of China laws: a case study

In the year of 2016, a court judgement concerning Letter of Credit dispute handed down by China Supreme Court has caught immense attention from banks, freight forwarders, sea carriers and maritime lawyers.

I. Basic Facts

For a detailed account of the case facts, you can refer to another post on this blog, but unfortunately, it is in Chinese.

A China bank (CCB)…

信用证开证纠纷经典案例:中国建设银行与广东蓝粤能源发展有限公司等信用证开证纠纷案

中国建设银行股份有限公司广州荔湾支行与广东蓝粤能源发展有限公司等信用证开证纠纷案

 

[裁判摘要]

提单具有债权凭证和所有权凭证的双重属性,提单持有人是否因受领提单的交付而取得物权以及取得何种类型的物权,取决于合同的约定。本案中,开证行根据其与开证申请人之间的合同约定持有提单,结合当事人的真实意思表示以及信用证交易的特点,应认定开证行对信用证项下单据中的提单以及提单项下的货物享有质权,开证行行使提单质权的方式与行使提单项下动产质权的方式相同,即对提单项下货物折价、变卖、拍卖后所得价款享有优先受偿权。…

The Skeleton Regime of China Administration of Foreign Debts

China is still on the way to open up its capital account in terms of cross-border capital flow, in a well-calculated manner.

When looking at China’s management of its foreign debts, one can easily get dizzy while navigating through tons of rules that have been issued, revised and replaced frequently over time.

This post only attempts to give you a basic…

11 reasons divorce is better than staying in a bad marriage

This post is copied from huffingtonpost.com. Good points for people in failing marriages to know and consider. However, when it comes to divorce, or anything involving deep feeling and emotion, no one is as sober as a third party bystander. But, I am not saying the bystanders know the best thing for the people caught in divorce. People are just different.

For…

A frequent inheritance-related scam many foreigners succumb to

Does it, the following cited paragraph, look familiar to you in any way?

Good Day Sir

I am an American and was contacted by Citic Bank in November of 2015 some months ago as heir to a sum of money from there bank.  They have set fees for months and I have paid all but this final fee which is in route to them by transfer, but they only give me 72 hours.  They have never

China tightened control over money outflow via personal bank accounts

China has witnessed its foreign exchange reserve dwindling over the last couple of years on the backdrop of its economy slowing down and its attempt to maintain its currency value.

With that concern, China is trying to manage, if not stop, the holes from which its money is flowing out to overseas. Many foreigners have already felt the pinch and I did get a couple…

foreigners in Beijing not allowed to receive gifted real properties if not eligible for purchasing

First of all, please note that I have not been able to locate the related decree or notice issued by Beijing local government, therefore not able to verify the captioned statement.

Just recently, in advising a foreign client in inheriting estate apartment left by his late father, I came to learn from local notary office a piece of new rule that was said to take…

Notarize your will to avoid trouble for your heirs/beneficiaries thereunder

Every year I deal with quite a few inheritance cases (litigious or non-litigious) involving foreigners inheriting estate (properties, shares and bank deposits) in China.

Very often, there is a written will produced by one heir to support his or her claim over the estate. The problem is that these wills are not properly notarized, leaving a great deal of uncertainty…

Sell your China property in Beijing: your marital status matters

Maybe it is really time to sell your China properties, either in Shanghai, Beijing or Shenzhen, these first-tiered cities in China.

Despite the fact that China applies its uniform sets of laws throughout the country as a centralized political system, it is not uncommon to find out that different places may have different interpretations of the same piece…

International Factoring in China Part I: overview of legal regimes for factoring industry

Factoring has been a big thing in China trade arena recent years. Ever since a push by China Ministry of Commerce promulgating in 2012 a set of new rules regarding setup of commercial factoring firms, commercial factors have been mushrooming in China with particularly robust growth in Tianjin, Shanghai, Guangzhou and Shenzhen.

However, bank factoring…

The Tenure Issue of Land Use Right in China: what if it expires?

Most of you don’t really care about this as it has nothing to do with you, unless you have a property in China. By a property, I mean mainly apartments, houses, residential or commercial.

A  piece of news from Wenzhou, a economic hub of Zhejiang province, an eastern China province, has sort waken up Chinese people who have been intentionally or inadvertently…

Rights for minority shareholders under China Company Law

Being a minority shareholder in a China limited liability company can be a nightmare for investors, foreign or domestic. You get stuck there with no hope and find yourself no easy exit. I have witnessed many such sad stories happening to foreign clients who participated in Sino-foreign equity joint ventures.

So it will be meaningful for investors to know what…

FCI GENERAL RULES FOR INTERNATIONAL FACTORING

FCI GENERAL RULES FOR INTERNATIONAL FACTORING

(printed July 2013)

 

CONTENTS

Section I       General Provisions 2

Article 1       Factoring Contracts and Receivables 2

Article 2       Parties taking part in two-factor international factoring. 3

Article 3       Receivables included. 3

Article 4       Common…

国际保理是如何运作的?

国际保理如何运作

国际保理无任何复杂之处。它是以简化国际贸易为目的而设计出的一系列服务的总称。

典型的保理服务包括:

调查买方的信誉

承担信用风险

100%地防止账面价值减损

应收账款的催收与管理

基于应收账款以即时现金预付款的方式提供融资…

天津市高级人民法院关于审理保理合同纠纷案件若干问题的审判委员会纪要(二)及律师解读

天津市高级人民法院关于审理保理合同纠纷案件若干问题的审判委员会纪要(二)及律师解读

 

为了妥善审理保理合同纠纷案件,进一步解决保理合同纠纷审判实践中遇到的疑难问题,依法保护当事人合法权益,规范保理经营行为,促进保理业健康发展,为天津市金融创新提供司法保障和支持,2015年7月27日我院召开2015年第22次审判委员会会议,专题研究了保理合同纠纷案件审理中的若干问题。经过认真讨论,与会委员对于依法解决审判实践中的疑难问题达成一致意见。现纪要如下:…

天津市高级人民法院关于审理保理合同纠纷案件若干问题的审判委员会纪要(一)

天津市高级人民法院关于审理保理合同纠纷案件若干问题的审判委员会纪要(一)

津高法〔2014〕251号

 

为正确审理保理合同纠纷案件,依法保护当事人合法权益,规范保理业务经营行为,促进保理业健康发展,服务和保障金融改革创新,防范应收账款融资风险,2014年10月27日高院召开2014年第27次审判委员会会议,专题研究关于保理合同纠纷案件审理中的若干问题。经过认真讨论,与会委员对目前审理保理合同纠纷案件的一些问题达成一致意见。现纪要如下:…

Sue a Chinese company: tap the pockets of its shareholders and even directors

More than often, when you deal with a Chinese company, supplier, business partner or contractors, you are dealing with a China limited liability company incorporated under China Company Law. As a universal principle, the limited liability doctrine offers the “veil” protection for the shareholders or members of the those limited liability…

最高人民法院关于适用《中华人民共和国物权法》若干问题的解释(一)

 

最高人民法院关于适用《中华人民共和国物权法》若干问题的解释(一)

(2015年12月10日最高人民法院审判委员会第1670次会议通过,自2016年3月1日起施行)
为正确审理物权纠纷案件,根据《中华人民共和国物权法》的相关规定,结合民事审判实践,制定本解释。…