THE INTERNATIONAL COMMERCE & LAW REVIEW (무역상무연구)
- Volume 13
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- Pages.581-603
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- 2000
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- 1229-2036(pISSN)
Requirements for Compliant Documents with the Terms and Conditions of the Credit
신용장조건(信用狀條件)과 일치(一致)하는 서류(書類)의 요건(要件)
Abstract
Beneficiary must present all documents stipulated in the Credit. If the documents conform in all respects with the terms and conditions of the Credit, beneficiary has a right to payment from an issuing or confirming bank. And banks must examine all documents presented by beneficiary for taking up the documents. If the documents appear on their face not to be in compliance with the terms and conditions of the Credit, banks may refuse to take up the documents. But standard for compliant documents with the terms and conditions of the Credit in the UCP or Section 5 of UCC is unclear. Because UCP Article 13(a) provides merely that banks must examine all documents stipulated in the Credit