• International Commerce and Information Review
• /
• v.13 no.4
• /
• pp.275-295
• /
• 2011

Any attempt which requires banks to consider non-documentary conditions would destroy autonomy principle and increase the risks of the bank in L/C transactions. Therefore, non-documentary conditions are disregarded in the letter of credit. This provision was first introduced in UCP500, but later, ICC Position Paper No.3 added that if L/C requires documents related to non-documentary conditions, it cannot be disregarded. While the language in UCP600 is basically the same as that in UCP500, there is a difference between the two in that the former disregards the documents related to non-documentary conditions even if they are required by L/C. However, it should be remembered that international standard banking practice does not disregard all of non-documentary conditions. It recognizes the validity of some non-documentary conditions which it is not feasible to change into documentary conditions. That is, such non-documentary conditions as can be determined from an index specified in the guarantee or identified from the issuing bank's own records or their normal operations are recognized as valid in legal cases. ISP98 and UR00758 do not consider these as non-documentary conditions. The applicant should be cautious not to include non-documentary conditions in their applications.

• International Commerce and Information Review
• /
• v.16 no.2
• /
• pp.89-109
• /
• 2014

The purpose of price escalation clauses has the effect of increasing the L/C value subject to external pricing mechanisms. This will be found inter alia in metals and oil products transactions. Such a clause gives rise to a question. That is, whether it is enforceable or whether it constitutes a letter of credit. The problem is what to reference to a source outside the context of a letter of credit constitutes a non-documentary condition rendering the undertaking something other than a letter of credit. Reference to an objective and readily available index is not something that renders the undertaking obscure and is not "non-documentary in the sense that it is possible to make an objective verification of the data. The possible solution is that not every non-documentary condition will be disregarded. For example, an index specified in the credit will not be disregarded as stipulated in ISP98 and URDG758. If a non-documentary is "central and fundamental", it seems that the parties intended a dependent payment obligations. The most common means of overcoming this conflicts of interests is to issue an instrument incorporatingan escalation clause, but capping the bank's maximum payment obligation.

• Journal of Arbitration Studies
• /
• v.15 no.3
• /
• pp.175-205
• /
• 2005

One of the important issues facing current letter of credit practice is the effect of nondocumetary conditions. A nondocumentary condition is a condition contained in the credit without stating the document to be presented in compliance therewith, so nondocumentary condition must be ascertained by reference to factual matters rather than by review of a tendered document. This study attempts to examine the regulations in UCP, ISP98 and UCC on the nondocumetary conditions and the opinions on the effect of nondocumetary conditions and to analyze various cases on the effect of nondocumetary conditions. The results of this study can be summarized as follows. Firstly, UCP, ISP98 and UCC stipulate that banks will deem nondocumetary conditions as not stated and will disregard then So the legal standards for nondocumetary conditions have established. Secondly, courts used to permit the effect of nondocumetary conditions on the basis of the Wichita rule, party autonomy. Thirdly, issuing banks and applicants should not attempt to put in any nondocumetary conditions in order to prevent disputes on the effect of nondocumetary conditions.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.76
• /
• pp.103-123
• /
• 2017

If additional condition in letter of credit is used in malicious way, it affects the international trade transaction in jeopardy. Therefore, it's significant to identify whether additional conditions are malicious or ordinary in the transaction with letter of credit. In normal cases, thanks to lots of useful features as an international payment method, such as security of payment, legal protection, and versatility, a letter of credit is widely used in international trade. However, even with these advantageous features, a letter of credit is complicate and costly to use, compared to other payment methods. Furthermore, due to its principle of independence from underlying contract, a use of letter of credit creates another type of concern for proper handling and needs significant caution upon field use. At some points, malicious additional conditions are used for buyer's advantage in deal making and fraud instance in worst situation. In addition, some countries request malicious conditions against sellers as a non-tariff barrier. Therefore it's extremely important to recognize whether malicious additional condition exists in letter of credit and, if so, how to deal with it. This study delivers the information to distinguish and categorize the malicious conditions in various cases and to figure out how to deal with them for safer trade with less risk.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.33
• /
• pp.3-28
• /
• 2007

A non-documentary conditions is a condition contained in the credit without reference to the presented document in compliance therewith, thereby causing many problems to all parties involved in letter of credit transactions. The purpose of this study is to examine the regulations on the non-documentary conditions under Uniform Customs and Practice for Documentary Credits: UCP, International Standby Practices: ISP98, United Nations Convention on Independent Guarantee and Stand-by Letters of Credit: CIGSLC and Uniform Commercial Code: UCC and also the opinions on the effect of non-documentary conditions through the analysis of several cases on the non-documentary conditions. The result of this study can be summarized as follows: First, UCP, ISP98, CIGSLC and UCC stipulate that banks will deem non-documentary conditions as not stated and will disregard them. Second, courts used to permit the effect of non-documentary conditions. Finally, all parties should not attempt to put in any non-documentary conditions in order to prevent disputes on the effect of non-documentary conditions.

• Journal of the Korean Home Economics Association
• /
• v.26 no.1
• /
• pp.83-96
• /
• 1988

科學의 발전과 經濟의 高度成長으로 食生活의 向上은 人間의 수명을 크게 연장시키고 있다. 韓國에 있어서도 이러한 傾向은 같은 樣相이며 더욱이 보건형태가 차차 변경되어 가고 있다. 女性의 平均수명은 男性보다 길며 近來에 이르러 女性人口의 95%가 閉經을 經驗할 때까지 生存하고 있다고 한다. 이러한 실정임에도 불구하고 우리나라 女性의 閉經年令, 更年期에 處한 婦人들의 건강 및 營養攝取狀態, 食生活 態度등에 關한 情報가 파악되어 있지 않고 있다. 本 硏究는 이 點을 감안하여 우리나라의 中年女性의 건강管理의 指針을 세우기 위하여 생물학적 요인 및 환경적 요인이 閉經年令 및 更年期婦人의 건강狀態와 食行動에 어떠한 영향을 미치는지를 검토하여 보았다. 本 硏究는 1980년 12월에서 1981년 2월까지 3개월간 韓國의 2個의 大都市와 5個의 小都市에 거주하는 40歲에서 60歲까지의 女性을 대상으로 설문지를 통해 다음과 같은 사항을 조사하였다. 조사내용으로 1) 폐경연령, 주거환경, 사회경제적 조건, 체위, 임신횟수, 유산경험의 유무 2) 건강상태, 갱년기 자각증상, 유경시 월경의 순, 불순상태 그리고 3) 영양섭취상태와 식행동 등이다. 本論文은 調査內容 中 第 2 報로 更年期女性의 영양섭취상태와 식생활 행동 그리고 更年期 현상과의 關係를 關例시켜 검토하였다. 간이식품 섭취 사항 조사표를 사용하여 영양소의 섭취상태를 조사한 결과 大都市群은 energy, 지방, thiamin 및 ascorbic acid 의 섭취상태가 그 對照群에 比하여 높은 경향을 나타냈다. 열양 구성비에 대한 검토를 보면 糖質:蛋白質:脂肪(C:P:E)의 比가 64~67%:14%:19%~22%였으며 大都市群은 小都市群에 比해 脂肪에서의 energy섭취가 유의적으로 높았다. 더욱이 사회 경제적 측면으로 보아도 지방섭취는 저소득층에서 낮은 경향을 보여주었다. 更年期女性의 음식에 대한 기호變化의 검토를 통해 관찰한 것에 의하면 閉經者가 未閉經者에 比해 더 많이 食品嗜好의 變化를 경험하고 있다고 지적\ulcorner\ulcorner있다. 37.4%와 28.1%가 각기 기호의 變化를 경험하고 있었으며 이는 兩群間에 有意차가 높음을 보여주었다. 閉經 후 2年頃부터 食品의 嗜好變化를 느끼고 있다고 하는 사람이 많았으며 음식은 기름기 있는 것보다 담백한 것, 肉類보다는 生鮮, 果實, 野菜를 더 선호하는 경향이라고 하였다. 자극성이 있는 것에서 덜 자극성 있는 것을 찾는 경향이었다. 이들의 食品선택구조를 파악하는 것은 그 지역의 특수한 영양문제뿐만 아니라 그들의 영양교육, 더 나아가서는 그 지역의 식량영양정책 수립을 위해 중요한 정보를 제공할 수 있다. 大都市群은 肉類, 卵類, 乳類 및 그 製品등의 선택과 빵이나 butter 등의 食品과 正의 相關性을 나타내고 있었으나(p<0.01) 김치와 같은 韓國의 傳統的 食品의 선택時는 乳類, 果實, 빵과 같은 近代的 感覺의 食品과는 負의 相關性을 나타냈다. 한편 김치는 밥 및 기타 곡류 그리고 서류와는 正 相關性을 시사하였다. 小都市群은 對照群과는 多少 상이한 식품선택 구조를 보이고 있다. 즉 卵類나 乳類를 섭취할 수 있는 사회경제적 조건, 그리고 기호를 갖는 사람들은 서류를 제외한 모든 식품과 正의 相關性을 나타냈다. 어느 群이든 밥과 김치는 높은 相關性을 나타내고 있으며, 이 두 식품은 韓國人의 食生活의 基本이 되고 있으며 이를 土臺로 다른 食品의 선택은 地域的, 社會經濟的, 그리고 個人의 기호에 따라 다르게 나타난다는 것이 시사되었다. 閉經前 後의 更年期라는 것은 30餘年 間의 性 hormone의 周期的分泌에 依한 月周期가 停止하는 時期이며, 內分泌環境의 變化에 依한 生體 리듬의 異常은 各種 更年期증상의 원인이 되고 있다. 有經時의 月經주기의 이상을 경험하는 사람에게 특히 更年期증상中 食慾不振이나 不眠 등의 不平 數가 많았다. 이러한 점으로 미루어 보아 estrogen과 食慾과의 相關性은 높음이 시사되었다. 이는 不眠症과는 연관성이 있으며 性홀몬 分泌의 亂脈은 食事攝取의 리듬을 흐틀어 놓으며 이것이 生體리듬의 變化를 유발한다고 본다.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.22
• /
• pp.137-171
• /
• 2004

Under Article 2 of the Uniform Customs and Practice for Documentary Credits (1993 Revision. UCP), letter of credit means an arrangement whereby an issuing bank is to make a payment to a beneficiary, or is to accept and pay bills of exchange drawn by the beneficiary, or authorises another bank to effect such payment, or to accept and pay such bills of exchange, or to negotiate, against stipulated document(s), provided that the terms and conditions of the letter of credit are complied with. In letter of credit operations, all parties concerned deal with documents, and not with goods, services and/or other performances to which the documents may relate (UCP, Article 4). It is important to note that under UCP, if a letter of credit contains conditions without stating the document(s) to be presented in compliance therewith, banks will deem such conditions as not stated and will disregard them (Article 13 c). Section 5-108(g) of the Uniform Commercial Code also contains a similar provision. However on several occasions the Korean Supreme Court held that non-documentary conditions in letter of credit governed by UCP could be regarded as valid, although they were not desirable in the context of letter of credit transactions. The rationale underlying the decisions was that parties to the letter of credit transactions are free to determine the terms and conditions of the relevant letter of credit. After reviewing the relevant provisions of UCP, UCC, the International Standby Practices (ISP98) and the Supreme Court decisions of Korea, the author suggests that we classify conditions that do not require any documents (so called apparent non-documentary conditions) into two categories and treat them differently. There are apparent non-documentary conditions that are consistent with the nature of letter of credit and those which are inconsistent with the nature of letter of credit. In the first category there are two sub-categories, (i) those which are valid and (ii) those which are invalid and thus should be disregarded. In the second category there are two sub-categories, (i) those which are invalid and thus should be disregarded and (ii) those which are valid but deprive the instrument of the nature as letter of credit.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.70
• /
• pp.1-20
• /
• 2016

This study is to find the accurate interpretations for the UCP600 by integrating, ISBP745, Official Opinions of ICC Banking Commission and some Case Laws suggesting the reasonable implication for the upcoming UCP. Major results analyzed by this study are as follows. First, The preclusion rule, UCP600 Article 16(c), is closely connected with the doctrine of documentary cure, so the banks requirement of Single Notice must state all the discrepancies of the documents presented. Exceptionally if the cured documents by the presenter are happened to be inconsistent the initial notice the bank can require the presenter to re-tender within the expiry date or the last day for presentation. Secondly, The Issuing Bank can utilize the right of seeking a waiver of documentary discrepancies from the applicant with the time limit of 5 banking days. If the bank wants to require an applicant to report discrepancies promptly, he may include a provision in the reimbursement engagement limiting the time limit within which the applicant must give notice of facial discrepancies. Thirdly, if a credit contains a non-documentary condition, banks will deem such condition as not states and will disregard it. According to the principle of private autonony if a credit contains a non-documentary condition to be consistent with by the parties concerned in a credit the non-documentary condition can be treated, as an effective condition itself. Fourthly, according to the Korean Supreme Court's decision, negotiation includes the method of crediting the credit amount and then transfers such funds into a special account and controls the account. Finally, UCP600 Article 33 states a bank has no obligation to accept a presentation outside of its banking hours. However, there is no rule in UCP600 in regard to a presentation after the close of business. Hopefully the upcoming UCP has to stipulates a sort of definite article to determine such ambiguous.

• Korean Journal of Soil Science and Fertilizer
• /
• v.20 no.2
• /
• pp.101-106
• /
• 1987

A pot experiment was conducted to find out the effectiveness of ammonium sulfate absorbed Zeolite on the yield of rice and the changes of some plant nutrients under the condition of two levels of water percolation. The results were as follows: 1. Unhulled rice yield was increased in the plot of the percolation of 10 mm/day than the percolation of 30 mm/day due to the increase of panicle number and ripening ratio. 2. $NH^+_4-N$, $K^+$ and $SiO_2$ concentration in soil leachates were lower in the percolation rate of 10 mm/day than in the early stage of rice growth were decreased by the application of Zeolite 1.0 T/10a. 3. Plant uptakes of K and N in the harvesting stage were more accelerated in the percolation of 10 mm/day comparing with the percolation of 30 mm/day, and the silica uptake of plant was the reverse against the case of former elements. 4. The optimum rates of Zeolite for maximum yield were about 1T/10a.

• Korean Journal of Food Science and Technology
• /
• v.50 no.2
• /
• pp.191-197
• /
• 2018

This study investigated the influence of starch extraction (ST-EX) solutions on the extraction yield and characteristics of Chinese yam (CY) starches from domestic Dioscorea batatas. Ascorbic acid (VitC), $Na_2S_2O_3$, $NaHCO_3$, and $Na_2CO_3$ were used as ST-EX solutions (0.4%, w/v). The extracted CY starches were examined for ST-EX yield, chemical composition, size distribution, X-ray diffraction, solubility, swelling power, gelatinization, and pasting viscosity. The highest ST-EX yield was obtained from $NaHCO_3$, followed by VitC. Lower protein content, relative crystallinity, and gelatinization enthalpy were found in CY starches from alkaline ST-EX solutions ($NaHCO_3$ and $Na_2CO_3$). Size distribution and gelatinization temperature did not generally differ for CY starches from the different ST-EX solutions. Pasting viscosities increased in the order from $Na_2CO_3$ > $Na_2S_2O_3$ > $NaHCO_3$ > VitC ST-EX solutions. Thus, VitC may be most appropriate to extract CY starch from Dioscorea rhizomes, considering its ST-EX yield, total starch content, and variation in pasting viscosity.