February. 2010

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WAD Mid-Term and Board Meeting in association with the World Investigators Conference will be held on March 10 - 13, 2010 in Dallas, Texas, USA.

Northern Branch AGM of ABI (Association of British Investigators) is to be open on January 31, 2010 in Leeds, UK.

 All courts in Chongqing City have thoroughly implemented a policy of “Unilateral Withdrawal” among the leadership of the courts since 2010. It regulates that if the cadres of the courts were in their term of office, their spouses or children would not be engaged in the profession of lawyer, otherwise, they must resign from their current positions. In addition, if the employee of the courts quitted and wanted to be a lawyer, they could not act as litigation procurator or defender to be present at their former courts later on (formerly this regulation is only valid within two years after they leave their position) Meanwhile, the new policy also regulates that the law firms established by the former justices of the courts are under strict restriction to act as agent at their former courts.

According to the report of Wen Wei Po of Hong Kong, Legislative Council of Hong Kong passed Amendments to the Legal Practitioners Ordinance, under which solicitors having at least five years’ post qualification experience, two years’ experience in Hong Kong over the past seven years and satisfying further eligibility requirements can apply to Higher Rights Assessment Board for gaining higher right of audience before High Court and Court of Final Appeal. After being granted, solicitors can obtain the higher right of audience, otherwise, if they perform their right as solicitors which violates this ordinance, they will be considered as contumacy and will be fined HKD 500,000.

Some Regulations from Supreme People’s Court to Further Strengthen the Duty of Collegial Bench has been passed at 1479th conference of Adjudicatory Committee of Supreme People’s Court of China on December 14, 2010. These regulations will come into force on February 1, 2010. Please refer to the link http://www.chineselawyer.com.cn/pages/2010-1-14/s55235.html for its full text.

The Achievement of the Value of Credit

Today’s society is an information society, and the credit has also become informatization. Credit was comprised of information and plays a more and more important role in the form of information in people’s social and economic life. Credit system at many circumstances also manifests as legal system in the aspects of offering, obtaining, evaluating and responsibility of information.

The quantification of credit contains two meanings. One is the quantification based on its value as a kind of property. The other is the quantification as information. Credit’s degree and standard can be evaluated by a certain amounts of symbols.

Modern commodity economy activities pay more attention to the convenience, fast and safety when doing business and investment and during which learning opposite side’s credit status and knowing the risk that you would take are necessaries which a cautious and ordinary businessman should do. However, the factors defining a business and investment partner’s credit status are quite a few and quite complicated. Besides the property amount that is relatively easier to confirm, other factors like enterprise quality, performance and management, economic profit, development perspective and so on are very blur and flexible. It is not objective and entire enough for transactors and investors to try to learn their counterparties’ credit status by themselves or by the introduction of their counterparties. To fully learn and determine these credit factors and conclude a credit degree is a time consuming and arduous task.

From another view, the counterparties should make their credit status timely and easily to be found by transactors and investors to enlarge influence and attract more investment and clients. Therefore, the quantification of credit information that is convenient to be learnt and transferred emerges because of demand and develops rapidly.

The quantification of credit primarily performs through credit rating, which assesses various factors and calculates a corresponding rank and a concise symbol, providing a clear and intuitionistic standard that your counterparties have. The famous credit rating company ABE Credit Rating Co., Ltd. divides credit into three grades and nine classes. Three grades are Grade A, Grade B, and Grade C. Each grade contains three classes: AAA, AA, and A, BBB, BB, and B, CCC, CC, and C. AAA represents best credit and highest safety, while C represents lowest credit and nothing safety guarantee when doing business with or make investment to a client having such a kind of credit. The enterprise’s main credit published as information refers to its ability of carrying out responsibility and paying liabilities, so the main credit should be consist of two parts. One part is its property status, which decides whether its property could pay off its liabilities. Enterprise with more property has more capability of paying liabilities. The other part is the records of the enterprise carrying out contracts and doing other duties such as whether it has paid taxes and carried out the judgment of court. Enterprise with less property but good contract fulfillment records can also get its credit degree improved.

Credit evaluation can be divided into two types: general comprehensive evaluation on enterprise’s main credit and credit evaluation on enterprise’s a particular economic activity. The former one applies to the credit rating on banks, insurance companies, warrant organizations, enterprise groups, business enterprises, etc. The latter applies to the credit rating on stocks, securities, etc. It apparently rates the securities and behaviors, but in fact it eventually rates the enterprise’s main credit.

Source: http://www.ccn86.com/rating/weishenme_jz.shtml

Four Tips Against Fraud when Shopping Online

1) Observation. Generally, online vendors with more credit have longer operation time, more clients, larger scale and is also more professional. However, since credit brushing tools has spread in Taobao, credit rating system begins appearing a large trap. At this time, purchasers should observe whether the opinions made to a vendor are successive from an identical Taobao ID or often from a Taobao ID made of strange digitals and characters. Because credit brush companies need bulk registration, they always register an ID name without thinking. Next, you should refer to a vendor’s rate of good feedback and the reply to the feedback. Vendors having responsibility care about the customs’ feeling.

2) Ask. You should ask more before purchasing. Many vendors selling counterfeits usually don’t disclose their detailed contact addresses and numbers in the address column of dispatch sheet for fear of being closed by administration of industry and commerce. If you found these types of vendors, you would think twice and consider refusing their express delivery to guarantee your interest.

3) Think. You need to recognize clearly the channel of quality goods. China’s current quality goods that are selling are from brand operators of each brand. You should not believe that those goods that are crown by OEM or original genuine, because it obviously tell you that the vendor is selling counterfeits. How can so many shoes be stolen from factory and sold online?

4) Identification. Many famous brands like Nike, Adidas and so on all have their own price structure. If a vendor labels a newest style of a famous brand with a price of less than 50% of it should be, you must be careful because only goods that are off season and stored at warehouse can have such a low discount.

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