• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.49
• /
• pp.89-109
• /
• 2011

Among various export financing, forfaitng and factoring give a comfort to exporters as those special financing schemes are extended to them on a without recourse basis. This is good for the exporters in terms of financing and risk cover of buyer or LC issuing banks. To enjoy this benefit, the SME exporters should, however, know the risks involved in sales contract. For example, if the export and importer set Korean law as governing law in the sales contract especially for open account exports, the exporter's receivables might be not welcome by factors according to provisions of Korean Conflict Law and it's application. Those regulations tell that the factor's position would be unstable when the sales contact limit exporter's assignment of receivables to the factor when the sales contract is subject to Korean law. Also the exporters should know related regulation of importer which might affect the assignment of receivables as well. This paper suggests the Korean exporters take internationally recognized agreement/convention such as UNI|DROIT Convention on International Factoring, UN Convention on the Assignment of Receivables in International Trade.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.53
• /
• pp.181-206
• /
• 2012

The straight bill of lading is regarded as the documents of title except in American law after The Rafaela S case. The Carewins case also decided that the exclusion clause of bill of lading did not exempt carriers from liability when the carriers delivered the cargo to the consignee without the production of original bill of lading. And the court said that the carrier was responsible for delivering the goods against a forged bill of lading regardless of exemption clause of bill of lading in the Motis case. It may be assumed through these cases that the straight bill of lading as a document of title gives documentary security to the banks in trade finance. However, there can be some downside to the efficacy of the straight bill of lading as collateral. First, when it is subject to the English law, the shipper can arbitrarily change the consignee different from the one named in the document. Second, some bills of lading bear provisions relating to the carrier delivering the goods upon reasonable proof of identity without the surrender of an original and/or genuine bill of lading.

• The Journal of the Korea Contents Association
• /
• v.15 no.9
• /
• pp.126-133
• /
• 2015

According to the traditional precedent, if a beneficiary who completed a provisional registration as a result of reservation of trade which is a fraudulent act, then assigned the right acquired by the provisional registration to the third party who has no information of the process, and let the third party complete an additional registration transfer the provisional registration, and if the third party completed the main registration on the foundation of the provisional registration, the beneficiary cannot be the other party of the litigation requesting for the cancellation of registration of the provisional registration. As the result, an apprehension that the duty to recovery of the beneficiary could easily be acquitted of a charge has existed. But, it is considered as desirable that the judicial decision judged that the court recognized the qualification of the defendant as appropriate at this case, with a different view from the precedent, and then the defendant can file the litigation against the beneficiary, requesting for cancellation of the reservation of trade which is a fraudulent act.