علی ذبیحی عراقی

The letters of credit system, through providing a safe and fast platform, has always been welcomed by merchants as one of the payment methods. Indeed, due to the existence of the important principle of autonomy, this payment method has greatly reduced the concern of businessmen in the field of international trade. However, it should be noted that the absolute interpretation of the aforementioned principle, by creating a factor for the power of one of the parties, is considered as a violation of intent according to the objectives of the documentary credit system; In light of this, various judicial procedures have moved towards the recognition and acceptance of various exceptions based on the preservation of some interests and with regard to the above point; that Knowing these exceptions has been very important both for businessmen because of the efficiency of the documentary credit system and for other countries because of their identification or rejection. For this reason, considering the importance of examining this issue, this research has examined the exceptions to the principle of independence of letters of credit in three parts; and has tried to determine their limits to the appropriate extent; In such a way that it can now be said that each judicial procedure has moved towards accepting or rejecting exceptions based on their perspectives; As it is now not possible to apply all exceptions in the same way to all countries involved in this matter; As a result, in order to determine the limits, each exception must be examined independently. On the other hand, expanding the circle of exceptions to the principle of independence of letters of credit, in order to preserve some interests, has ignored some other interests; As a result, it cannot be said that such expansion has only had a positive effect on the efficiency of the letter of credit system.