지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
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Documentary credits have been used as one of the most useful payment methods in international trade.
Standby letter of credits are using as surety devices in various global business transactions including sale of goods. Standby letter of credits have lots of merits but simultaneously have high possibility of improper demand by the beneficiary due to the characteristics of the documents required.
The purpose of this article is to suggest the countermeasures of problems relating to the improper demand by the beneficiary in standby letter of credit transaction. For this purpose, the author examined the nature and characteristic of the performance to ay by the issuing bank. From the result of the analysis, two major problems are become clear, one is that there is high possibility of improper demand by the beneficiary and the other is that the issuing bank bears too much risk.
The countermeasures of these problems are as follows.
Firstly, for preventing improper demand, it needs to insert special condition such as notice of demand clause in the standby letter of credit and to strengthen the document requirements to present default statement made by someone other than beneficiary.
Secondly, if the demand turns out improper, the issuing bank could refuse to pay by its own decision or by the court's injunction.
Thirdly, to guarantee reimbursement from the applicant, the issuing bank may request to pay the credit amount in advance.
Finally, to diversify the risk of the issuing bank, the issuing bank may sell participations to another bank. And using bank-up credits and multibank credits could reduce the risk of which the issuing bank bears.
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참고문헌 (13)
참고문헌 신청
Buckley Ross P. / 2002 / The Development of The Fraud Rule in Letter of Credit Law / Journal of International Economic Law
Byrne, James E. / 1998 / The Official Commentary on the International Standby Practices 98 / The Institute of International Banking Law & Practice, Inc
Dolan John F. / 2000 / Analyzing Bank Drafted Standby Letter of Credit Rules, The International Standby Practice(ISP98) / Wayne Law Review 45 (Winter)
Ellinger E. P. / 1983 / Documentary Credits Fraudulent Documents : Credits Problems of International Trade Financing / Butterworths
Pearlman Stephen J. / 1990 / Types of Non-Trade Letter of Credit Used in Today's Marketplace, A Practice Guide to Letters of Credit / Executive Enterprises Publications Co. Inc., New Yo
Byrne, James E. / 1998 / The Official Commentary on the International Standby Practices 98 / The Institute of International Banking Law & Practice, Inc
Dolan John F. / 2000 / Analyzing Bank Drafted Standby Letter of Credit Rules, The International Standby Practice(ISP98) / Wayne Law Review 45 (Winter)
Ellinger E. P. / 1983 / Documentary Credits Fraudulent Documents : Credits Problems of International Trade Financing / Butterworths
Pearlman Stephen J. / 1990 / Types of Non-Trade Letter of Credit Used in Today's Marketplace, A Practice Guide to Letters of Credit / Executive Enterprises Publications Co. Inc., New Yo
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