• The Journal of Society for e-Business Studies
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• v.7 no.1
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• pp.187-206
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• 2002

The purpose of this study is to review the process for the trade settlement system between all parties involved in the commercial transaction under SURF System. SURF application is the latest value added service from bolero.net and a fully automated documentary settlement system. It extends bolero.net's capability to enable trade transactions by providing a delivery versus payment system. It has been designed as a standard, shared, infrastructure component for handling trade settlement within an electronic environment to keep step with the operation of electronic Bolero bill of Lading. It exploits the services provided by the Bolero Core Messaging Platform - secure, guaranteed transactions based on boleroXML standards to provide document compliance services with optional bank guarantees. So, SURF system can automatically check all commonly used trade documents such as commercial invoices, bills of lading and certificates of weight and analysis, etc and supports a full range of settlement options including Open Account, Documentary Collections, Documentary Credit. 58 have key features as follows, ① automatic document compliance checking, ② integrated with the Title Registry, ③ supports various forms of vender financing, ④ governed by a set of legally binding rules, ⑤ fully prepared for Straight-Through-Processing, ⑥ Enabled compliance with UCP 500.

• Korea Trade Review
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• v.48 no.2
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• pp.153-174
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• 2023

Electronic bill of lading, Letter of Guarantee, Surrender B/L, Seaway Bill, etc. have been proposed as alternative tools to overcome the crisis of bill of lading, but the most useful of these is by far the Surrender B/L. However, since the Surrender B/L has various problems due to the absence of a legal basis, studies so far have been conducted focusing on these legal limitations or problems in use of the Surrender B/L. This study tried to empirically identify the factors that affect the spread of Surrender B/L by expanding this point of research view. A hierarchical regression analysis was conducted by acquiring 190 valid samples centered on member companies of the Korea International Freight Forwarders Association. In addition, the R program was used to diagnose the research data and analyze the degree of spread by region. As a result of the empirical analysis, it was found that the utilization of Surrender B/L increased due to the convenience and cost reduction effect of Surrender B/L and the apprenticeship training of forwarding companies. In addition, as a result of regional analysis, the spread of Surrender B/L was notable not only in neighboring regions but also even in areas far from Korea.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.51
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• pp.317-358
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• 2011

The purpose of this study aims to analyse the key differences of the sea waybill and electronic B/L in the international transport documents. Sea waybills look remarkably like ordinary bills of lading. Indeed, in two important ways, they are just like bills of lading: the front of the document will near a description of the quantity and apparent condition of the goods; and the back of the document provides evidence of the terms of the contract of carriage. They differ from bills of lading in that, far from indicating that the goods described are deliverable to the order of the shipper or of the consignee, they will make it explicit that the goods are deliverable only to the consignee. Again, different carries will do thai in a variety of ways. For example, the document may call itself non-negotiable, omitting the word order from the consignee box on the front of the document, and stating explicitly that the goods will be deliverable to the consignee or his authorised representative on proper proof of identity and authorisation. The Hague-Visby Rules and Hamburg Rules give no guidance as to any right to instruct the carrier in respect of goods while they are in transit. However, in applying Article 50 of the Rotterdam Rules, in particular when applying it in the context of seawaybills, straight bills of lading or ship's delivery orders, regard would need to be had to preserve the shipper's rights under any of those three documents even after the buyer of goods covered by them has acquired rights of its own. And, the right of control is defined at Article 1.12 of the Rotterdam Rules. The right to give instruction is further limited by the terms of Article 50.1 to three particular types of instruction in respect of the goods, relating broadly to the goods, their delivery en route, and the identity of the consignee. And, the CMI formulated the CMI Uniform Rules for Sea Waybills for voluntary incorporation into any contract of carriage covered by such a document. Recognising that neither the Hague nor the Hague-Visby Rules are applicable to sea waybills, the CMI Rules provide that a contract of carriage covered by a waybill shall be governed by whichever international or national law, if any, would have been compulsorily applicable if the contract had in fact been covered by a bill of lading or similar document of title.

• International Commerce and Information Review
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• v.8 no.3
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• pp.143-164
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• 2006

EDI is fast becoming the standard way of exchanging business documents, not only in this country but throughout the world. The purpose of EDI is currently being used for all the most common business transactions such as purchase orders, invoice, quotes, bill of lading, status reports, receiving advices; and also for some very specific transaction. Thus, the purpose of this study, by way of literature survey and survey research are to find the effectiveness in EDI Service of Clearance Physical. The model of the Trust Dimension and EDI Provider Loyalty in EDI Service of Clearance Physical is tested here using data from 163 samples. Based on the research model, a comprehensive set of hypotheses is formulated and a methodology for testing them is outlined. some of the hypotheses are tested empirically to demonstrate the applicability of the theoretical model. In examining the relationships of the Clearance EDI determinants factors, Trust and e-loyalty show in significantly by customs practice trust, clearance EDI, EDI provider trust and clearance EDI loyalty. but that show in not significantly by a list of names, EDI benevolence.

• Journal of Korea Port Economic Association
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• v.20 no.2
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• pp.217-234
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• 2004

Information technology has been transforming the relationship between shippers and carriers, but an unresolved question remains: what is the relative importance to shippers of service versus cost benefits of e-logistics solutions? This research develops and empirically tests a model to determine how Internet-based logistical operations in international shipping impact on the relative importance of cost versus service benefits to shippers. Contrary to expectations, results show that shippers perceived cost benefits from well-designed web sites, undoubtedly a consequence of perceptions that multi-function portals with ease of access contributed to savings in time and money. Another result was the confirmation of the positive effects of cargo tracing and bill of lading issuance on service-related factors. Finally, this study draws attention to the need for improvements in on-line booking capabilities and development of a comprehensive common portal; issues that must be addressed for shipping lines to succeed in an increasingly competitive e-logistics market.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.36
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• pp.29-46
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• 2007

The fraud exception rule allows for the issuing bank to dishonor the claim if it the documents and transactions bear fraud though the documents presented are complied with the terms and conditions of the letter of credit. A question arises whether the fraud exception rule can apply to innocent beneficiary when fraud is made by 3rd party. United City Merchants v. Royal Bank of Canada showed a good example how to handle in case of innocent beneficiary. At this case House of Lord found that innocent beneficiary deserves payment applying nullity exception rule. I believe that the nullity exception rule is employed for the benefit of innocent beneficiary as far as the issuer and applicant get no actual damage by the 3rd party's fraudulent action which is shown on documents.

• Journal of Digital Convergence
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• v.7 no.4
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• pp.11-19
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• 2009

Electronic methods are already used in money transfer and credit cards transactions and electronic money and checks, which can substitute cash and coins, are being discussed. Recently, the Acts of Electronic Draft have been enacted, in order to make the money in the market flow efficiently. Also electronic bill of lading has been adopted for the practical use of international shipments. However, despite of the effort from the academia and practice, investments to stocks, especially in the stock exchange, is not quite perfectly electronic. Japan enacted a relevant act in 2004 which make its stock market totally dematerialized. This writing summarizes some issues in interpretation that arise in the course of operation of the Stock Electronic Registration System at the present time of 6 months after it came into effect and its purpose, by doing so, is to prevent in advance the kind of problems in introducing the similar system to Korea.

• Korea Trade Review
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• v.41 no.5
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• pp.187-211
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• 2016

This study discusses the right of suspension of performance against anticipatory breach under SGA. Anticipatory breach originated in Hochster v De La Tour allows the innocent party to exercise immediately the right or rights reserved for the non-performance of obligations. But it has not been codified in English Law. Instead, under SGA s. 41 and s. 44, the seller may suspend his performance against the buyer' anticipatory breach. Lien under s. 41 and stoppage in transit under s. 44 are given only to the seller in a narrowly-defined situation. Under SGA s. 41, the unpaid seller is entitled to retain possession of goods where the buyer becomes insolvent. But under SGA s. 43, the unpaid seller loses the right of lien when he delivers goods to a carrier or other bailee or custodian for the purpose of transmission to the buyer without reserving the right of disposal, or when the buyer or his agent lawfully obtains possession of the goods, or by waiver of lien. Under SGA s. 44, the unpaid seller may exercise the right of stoppage in transit if the buyer becomes insolvent, despite the fact that the property of goods has passed or a bill of lading has been transferred to the buyer. But, under s. 45, the right of stoppage in transit is ended when the buyer or his agent takes delivery of goods. And where the buyer transfers a bill of lading to a sub-buyer, the unpaid seller loses his right to stop goods in transit.

• Journal of the Korea Safety Management & Science
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• v.14 no.1
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• pp.109-116
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• 2012

It could be debated that the owners were indemnified from the charterers even in respect of the loss of deck cargo caused by the negligence on the part of the owners' servants by a clause 13(b) of NYPE(1993) form, where NYPE(1993) incorporated the Hague/Visby Rules by a paramount clause and did not contained an on deck statement to state or identify what or how much deck cargo was being carried, however the relevant bills of lading all had such statement. The socol 3 of U.K. is a very helpful decision on (1) an on deck statement in bill of lading was sufficient to exclude application of the Hague/Visby Rules to the carriage of deck cargo, as a result, the clause 13(b) should not be null and void by the clause 3(8) of the Hague/Visby Rules (3) the clause 13(b) could not protect the owners from the loss and/or liability caused by negligence and/or breach of the obligation of seaworthiness on the part of the owners, their servants and agents. Therefore, the purpose of this study is to critically analyze the decision in the socol 3, and provide the decision's practical implications in order to prevent legal disputes as to the on deck carriage between the owners and the charterters.

• The Journal of Information Technology
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• v.6 no.1
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• pp.85-105
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• 2003

The study revealed that the companies are still reluctant to stop using document-based payment methods although they are aware the use of electronic payment system would reduce express and save time. Considering problems that are suggested in the conventional payment method, more companies will introduce and utilize the electronic payment system. Moreover, as the refined electronic payment system is essential in electronic trade, active studies on this field would greatly contribute to the development of electronic payment system. The prevailing settlement of international trade still relies on trading documents while the legal issues are not finalized for electronic bill of lading (B/L) and electronic bill. This research purpose on comparing some e-trading models in character and presenting the obstacles of e-trading activation and the solutions. e-trading models this research has studied are BOLERO, TradeCard, electronic L/C etc. Comparing characteristic points of the e-trading model in this article are as follows; 1)Access ways as a global e-trading model, 2)Structural and Functional characteristic, 3)Role as a global e-trading model, 5)Legal and Application issues in practice, 6)Security issues for Technology. But Further studies on this subject would be needed.