• Title/Summary/Keyword: Bill of Exchange

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A Study About Necessity of a Teacher Center for Elementary and Middle School Teachers (초.중등교사를 위한 교사 센터 설립에 관한 연구)

  • Chang, Won-Hie
    • Journal of the Korean Institute of Educational Facilities
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    • v.5 no.4
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    • pp.18-27
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    • 1998
  • Our gorvernment announced an educational reformation bill to establish the institutional foundation of educational system on May 31, in 1995. To secure the open education which is to foster students' creativity, individualization and personalization, it was requested that the past teacher-centered system should be changed to learner-centered system. To gurantee such a change, however, there are many conditions that has to be satisfied first. I think that the most important thing for the new system is a close interaction between teachers and students. To accomplish a successful interaction, the teachers' understanding and attitude toward their students must change at first. The purpose of this study is to examine what kind of understanding and attitude the teachers need, and what kind of roles teachers must take charge of. At the same time, I suggest that we need to establish a Teacher Center to give teachers a seperate place to learn new theories, and to exchange among themselves the informations they got from the actual field experience.

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A Study on Export Financing Policy for Korean SMEs - Focusing on Korea EXIM'S Bank -

  • Bae, Sang Mok;Park, Se Hun
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.60
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    • pp.177-194
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    • 2013
  • According to the 2013 statistics, the small/medium-sized enterprises (SMEs) accounted for 99.9% of the Korean economy with 87.8% of employment. This simple figures also indicate SMEs export extension is a key task for the national economy stimulation and job creation. The SMEs export plunge has been affected by the European financial turbulence, US financial instability, developing countries like China entering foreign markets, a weak yen, etc. EXIM Bank, in this context, will need to take a more proactive attitude to provide trade finance by, for example, reviewing the business feasibility for SMEs with a lower credit rank or investigating importers' credit status, etc. Moreover EXIM Bank provides factoring service mostly to large companies and should lower its threshold for service provision to SMEs. Finally EXIM Bank should play more than a primary forfeiting market entity. It also needs to facilitate the secondary forfeiting market.

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Examination Criteria on the Compliance of Multimodal Transport Document in the ISBP (ISBP상의 복합운송서류의 일치성에 관한 심사기준)

  • Jeon, Soon-Hwan
    • International Commerce and Information Review
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    • v.7 no.4
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    • pp.219-243
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    • 2005
  • The Purpose of this Article is to analyze the examination criteria on the compliance of multimodal transport document in the ISBP. When the goods are taken in charge by the multimodal transport operator, he shall issue a multimodal transport document which, at the option of the consignor, shall be in either negotiable or non-negotiable form. The multimodal transport document shall be signed by the multimodal transport operator or by a person having authority from him. When the multimodal transport document is presented by the beneficiary to the bank in the letter of credit operations, the bank should examinate the bill of exchange and/or shipping documents, including multimodal transport document. There are two rules in connection with examination of the documents in the letter of credit operations. One is the "Uniform Customs and Practice for Documentary Credits(UCP 500)" approved by the Banking Commission in March 10, 1993, the other is the "International Standard Banking Practice for the Examination of Documents under Documentary Letters of Credits(ISBP)" approved by the ICC Banking Commission in October 2002. Therefore, this Article has studied the multimodal transport document presented under documentary credits on the basis of the UCP 500 and the ISBP it reflects.

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A Study on the Promotion of B2B e-Marketplace by the Strategic Use of e-Credit Guarantee System (전자신용보증 제도의 전략적 활용과 B2B e-Marketplace의 활성화)

  • Lee, Keum-Ryong;Shim, Sang-Ryul
    • Journal of Digital Convergence
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    • v.3 no.1
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    • pp.45-73
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    • 2005
  • In 2001, e-Credit guarantee system was introduced by the Korea Credit Guarantee Fund(KCGF) to extends the credit guarantee services for the purchasing amount on credit in the B2B e-Marketplace. It combines both the merits of bill of exchange and credit card and eliminates the uneasiness related to the unpaid accounts due to the non-facial e - Marketplace. The purpose of this paper is to empirically analyze both the causal relationship and influences among theoretical variables by the structural equation model(SEM). e-Credit guarantee system can be a good strategy for promoting B2B e-Marketplace. The level of application of e-Credit guarantee system is attributable to both the characteristics of B2B e-Marketplace and products. The cost reduction or saving in purchasing procedures, production and stockpiling will be possible through e-Credit guarantee system. The close linkage of financial institutions with the enterprises based on e-Credit guarantee system will further promote B2B e-Marketplace in Korea.

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A Study on the Promotion of B2B e-Marketplace by the Strategic Use of e-Credit Guarantee System (전자신용보증 제도의 전략적 활용과 B2B e-Marketplace의 활성화)

  • Lee, Geum-Ryong;Sam, Seong-Ryeol
    • 한국디지털정책학회:학술대회논문집
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    • 2005.06a
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    • pp.145-175
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    • 2005
  • In 2001, e-Credit guarantee system was introduced by the Korea Credit Guarantee Fund(KCGF) to extends the credit guarantee services for the purchasing amount on credit in the B2B e-Marketplace. It combines both the merits of bill of exchange and credit card and eliminates the uneasiness related to the unpaid accounts due to the non-facial e-Marketplace. The purpose of this paper is to empirically analyze both the causal relationship and influences among theoretical variables by the structural equation model(SEM). e-Credit guarantee system can be a good strategy for promoting B2R e-Marketplace. The level of application of e-Credit guarantee system is attributable to both the characteristics of B2B e-Marketplace and products. The cost reduction or saving in purchasing procedures, production and stockpiling will be possible through e-Credit guarantee system. The close linkage of financial institutions with the enterprises based on e-Credit guarantee system will further promote B2B e-Marketplace in Korea.

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The Risks of Transport Documents under L/C Transaction (신용장거래에서 운송서류의 위험요인에 관한 연구)

  • Park, See-Woon
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.45
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    • pp.85-109
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    • 2010
  • L/C provides the exporter and the importer with safe assurance in the exchange of goods for payment in international trade. It involves a number of parties. Although the parties may have confidence in their client, bad faith or ignorance of international banking practice by any of these parties could cause the failure of transaction, which makes international trade a risky business. Most of the risks are found in transport document, which can cause disputes. There are many factors in the risk of transport documents under L/C transaction. One most common risk factor for the beneficiary in all transport documents is even if there is no discrepancy in document, the issuing bank or the applicant refuses to pay or delay payment insisting there is a discrepancy. In some very rare cases, the beneficiary may not get paid due to unfair injunction of the local court of the applicant. For the applicant, most common risk factors are fake bill and fraud. Risks classified according to the sorts of transport documents are as follows. 1. In B/L, payment can be refused because it is regarded as charter party B/L, although there is no real charter party contract. And the applicant can bear the potential risk of the loss or deterioration of cargo through transhipment of the cargo loaded on board in container if transhipment is prohibited without excluding of UCP 600 article 20 (c). 2. In charter party B/L, the applicant may take delivery without paying when charter party B/L is signed by charterer, which can result in a big loss for the beneficiary and the negotiating bank. And risks may arise when cargo is seized because the charterer does not pay the hire. The applicant and the issuing bank are also vulnerable to a risk - Against whom should they file a suit when cargo gets damaged during transportation? 3. In multimodal transport document, which is subject to a conflict because there is a big difference in viewpoints between transport industry and banks, conflicts may also arise when L/C requires ocean B/L and accepts multimodal transport document at the same time, but does not specify the details. 4. In air waybill, where the consignee is not the issuing bank but the applicant, risks may take place to the beneficiary when the applicant takes delivery but refuses to pay asserting minor discrepancies in document. The applicant may also bear the risk when cargo may not be loaded because air waybill is a received bill. Another risk may arise when although the applicant prohibits transhipment without excluding UCP 600 article 23 (c), the cargo may be transhipped, provided that the entire carriage is covered by one and the same air waybill.

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A Study on the Examination Criteria and Case Study of Certificate of Origin in ISBP 745 (ISBP 745에서 원산지증명서의 심사기준과 사례분석)

  • Jeon, Soon-Hwan
    • International Commerce and Information Review
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    • v.16 no.3
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    • pp.203-221
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    • 2014
  • ICC Banking Commission have approved the new version of ISBP for UCP 600(Publication 745) on April 17, 2013. This is called the ISBP 745. This revised version of ISBP includes a lot of shipping documents including bill of exchange. These shipping documents stated in the ISBP 745, especially the certificate of origin is the document necessary for carrying out the customs formalities in FTA era. Particularly, practitioners such as bankers, buyers and sellers, lawyers, freight forwarders and carriers in import and export transactions have to know the UCP 600 and ISBP 745 (2013) thoroughly in order to avoid the disputes due to discrepancies of the documents with the terms and conditions of the credit. The purpose of this article is to reduce the disputes occurred in the credit transaction by providing the examination criteria and case study of the certificate of origin in ISBP 745.

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Study on AR/VR Model Generation Techniques Using Piping Isometric Drawing Files (배관 ISO도면 파일 기반 AR/VR모델 생성 기법 연구)

  • Lee, Jung-Min;Lee, Kyung-Ho;Kim, Yang-Ouk;Han, Young-Soo
    • Journal of the Computational Structural Engineering Institute of Korea
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    • v.34 no.1
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    • pp.19-24
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    • 2021
  • This paper presents a method to generate three-dimensional AR/VR models using the information in Isogen data files (IDFs). An IDF is an output file produced by ISOGEN that contains piping isometric drawings. A piping isometric drawing is used for pipeline installation in the shipyard; therefore, the drawing describes assembly information with symbolic features, not with detailed geometric features. An IDF specifies relationships between piping routes and components with three-dimensional points and tag information as well as the bill of the materials of a pipeline. The key idea of this paper is that AR/VR models can be generated with the piping route points data and piping components tag information in real time, without any conversion of standard data exchange file formats, such as STP, IGES, and SAT. This paper describes IDF data structure and suggests the geometry generation process with IDF data and parametric functions.

The Applicant's Liability of Examination of Document and Notification of the Discrepancies in Credit Transaction (신용장거래에 있어서 개설의뢰인의 서류심사 및 통지의무)

  • Park, Kyu-Young
    • International Commerce and Information Review
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    • v.8 no.4
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    • pp.105-121
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    • 2006
  • This study is related with the judgements of our country's supremcourt against the transaction of Letter of Credit which is beneficiary's fraudulent trade deal. In this case I think to analyse the judgements and to present the basic grounds on which the judgements were established. In Letter of Credit transaction, there are the major parties, such as, beneficiary, issuing bank, or confirming bank and the other parties such as applicant, negotiating bank, advising bank and paying bank. Therefore, in this cases, the beneficiary, the French Weapons' Supplier who did not shipped the commodities, created the false Bill of Lading, let his dealing bank make payment against the documents presented by him and received the proceeds from the negotiating bank or collecting bank, thereafter was bankrupted and escaped. For the first time, even though the issuing bank conceived that the presented documents were inconsistent with the terms of L/C. it did not received the payment approval from the applicant against all the discrepancies, made the negotiating bank pay the proceeds to exporter and thereafter, delivered the documents to the applicant long after the time of the issuing bank's examination of documents. The applicant who received the documents from the issuing bank, instantly did not examine the documents and inform to the issuing bank whether he accepted the documents or not. Long time after, applicant tried to clear the goods through custom when he knew the bill of ladings were false and founded out the documents had the other discrepancies which he did not approved. As the results, the applicant, Korea Army Transportation Command claimed, that the issuing bank must refund his paid amount because issuing bank examined the documents unreasonably according to u.c.p 500 Act 13th, 14th. In spite of the applicant's claim, the issuing bank argued that it paid the proceeds of L/C reasonably after receiving the applicant's approval of an discrepancy of document, the delayed shipment, but for concerning the other discrepancies, the trivial ones, the applicant did not examined the document and noticed the discrepancies in reasonable time. Therefore the applicant sued the issuing bank for refunding it's paid proceeds of L/C. Originally, this cases were risen between Korea Exchange Bank and Korea Army Transportation Command. As result of analysing the case, the contents of the case case have had same procedure actually, but the lower courts, the district and high courts all judged the issuing bank was reasonable and did not make an error. As analysing these supreme court's judgements, the problem is that whether there are the applicant's liability of examining the documents and informing its discrepancies to the issuing bank or not, and if the applicant broke such a liabilities, it lost the right of claiming the repayment from issuing bank. Finally to say, such applicant's liabilities only must be existed in case the documents arrived to the issuing bank was delivered to the applicant within the time of the documents examination according to u.c.p 500 Act 14, d. i. But if any the documents were delivered to applicant after time of the documents examination, the applicant had not such liabilities because eventhough after those time the applicant would have informed to the issuing bank the discrepancies of documents, the issuing bank couldn't receive repayment of its paid proceeds of document from the negotiating bank. In the result after time of issuing bank's examination of documents, it is considered that there's no actual benefit to ask the applicant practice it's liability. Therefore finally to say. I concluded that the Suprem Court's judgement was much more reasonable. In the following, the judgements of the supreme court would be analysed more concretely, the basic reasons of the results be explained and the way of protecting such L/C transaction would be presented.

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A Study on e-B/L Korea Service and its Facilitation Strategies (한국형 전자선하증권 활성화 전략에 관한 연구)

  • Jeong, Yoon-Say
    • International Commerce and Information Review
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    • v.13 no.4
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    • pp.51-79
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    • 2011
  • Korea has accomplished the establishment of the National Single Window for Paperless Trade. Since 1991, it has developed Trade Automation Service System based on EDI technology. In 2003, Korean government and private sectors jointly began to set up National Paperless Trade Service( e-Trade Service) as one of the e-government projects. In 2008, they commenced the uTradeHub Service which was equipped with Internet based e-B/L and e-Nego service systems for the first time in the world To facilitate the service Korea amended its e-Trade facilitation Act and Law by 2007. At the end of 2011, Korea historically recorded its trade volume of 1 trillion US dollars and joined '$1 trillion trade club' as the 9the member country since the country had started international trade less than five decades ago. A rolling out of the e-B/L and e-Nego service will 'ally reduce the transaction costs of trading businesses and accelerate the activation e-trade services. The purposes of the study are to examine 'e-B/L Korea' service and its facilitation strategies as well as identify obstacles to utilize the 'e-B/L Korea' service. The paper reviewed and analyzed Korea's Paperless trade system and distinctive characteristics of the 'e-B/L Korea Service. Parts of the fOWld distinctive characteristics of the Korea's e-B/L service are as follows; It is well equiped with IT and legal system. It also has more that 30,000 potential users who are already uTradeHub service users. The paper indicated several weaknesses of the current system such as global KPI issues, circulation of the electronic documents not only in the domestic market but also among economies, development of the electronic Bill of Exchange. As resolution measures, the paper recommended the introduction of mutual recognition system of PKI among trade partner counties, setting up e-trade solution for small and medium companies, and special attention to raise users' awareness of the e-B/L service.

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