• 무역상무연구
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• 제51권
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• pp.213-239
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• 2011

This article examines two important issues of the demand for payment by the beneficiary and the payment by the guarantor to the beneficiary under the revised Uniform Rules for Demand Guarantee (URDG) published by ICC, which are called URDG 758 and effected on July 1, 2010. Here, after first briefly defining the concept and nature of the demand for payment, this article discusses various issues surrounding the demand: By whom, where and how the demand has to be made; which documents are required in demanding the payment; how much amount can be demanded and paid; when and where the payment has to be made and which currency has to be used for the payment. The demand for payment has to be made by the beneficiary to the guarantor on or before expiry of the guarantee at the place of issuance of the guarantee unless any other place is specified in the guarantee. The demand has to be made in paper form unless the guarantee requires an electronic form. Unless otherwise expressly stipulated in the guarantee, the demand must be supported by a statement by the beneficiary indicating the applicant is in breach of the underlying contract. Also the demand must identify the guarantee under which it is made, and the time for examination by the guarantor starts on the date of identification. The demand cannot be for more than the amount available under the guarantee. When the demand is complying the guarantor must pay the amount demanded. The payment has to be made at the branch or office of the guarantor that issued the guarantee unless any other place is indicated in the guarantee. The payment has to be made in the currency specified in the guarantee, unless the guarantor is unable to make payment in that currency due to an impediment beyond its control or any illegality under the law of the place for payment. In case of "extend or pay" or "pay or extend" demands, the demand is deemed to be withdrawn if the extension is granted. But if not, the demand has to be paid without any further demand by the beneficiary.

• 무역상무연구
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• 제61권
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• pp.213-245
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• 2014

This study has significance in examining the formation requirements and notes for concluding the guarantee contract of minimizing interests and conflicts with the concerned parties by examining issues related to the legal relation and demand payment in the concerned parties and by figuring out the provisions of conformity related to the requirements for demand payment pertinent to the documentary provision in relation to characteristics of demand guarantee. What the concerned parties of using demand guarantee grasp the requirements for demand payment of being compliant with the essence and the guarantee condition of the demand guarantee will lead to possibly preventing a dispute caused by disagreement and being secured the fulfillment of underlying contract. To fulfill a underlying contract that is the objective of issuing the demand guarantee, an effort is needed that minimizes a contract-based risk and a cost by being fully aware of a relevant rule that will be recorded in the terms of payment in the demand guarantee, by reflecting the interests between the concerned parties, and by discussing the payment terms.

• 무역상무연구
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• 제58권
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• pp.179-213
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• 2013

While a performance type guarantee is required as a security for non-performance risk by a seller, a payment guarantee is used as a security for non-payment risk by a buyer(or a borrower in a loan agreement). A payment guarantee is a type of independent bank guarantee, bank guarantee, bond, demand guarantee, or standby letter of credit. A guarantor accepts a credit risk of a principal which is normally a buyer in a contract for sale of goods. A payment guarantee is independent of the underlying relationship between the applicant and the beneficiary. The guarantor is only empowered to examine the beneficiary's demand and determine the payment on its face to the terms of the guarantee. A payment guarantee is thus different from a suretyship. The principle of independence carries a significant advantages for a guarantor as well as for a beneficiary. While a documentary credit requires B/L, commercial invoice, packing list, inspection certificate, etc., a typical payment guarantee does not require any evidence for a seller's performance of the underlying contract other than written demand. In this respect payment guarnatee can be a more secured facility than a documentary credit. A payment guarantee normally comes into force from the issuing date and shall remain in effect until all sums guaranteed shall be paid in full by a buyer(or a borrower) or by a guarantor. Although a guarantor shall pay a demand made in accordance with the terms and conditions of the payment guarantee, a payment demand may be denied when it is determined to be abusive or unfair.

• 한국중재학회지:중재연구
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• 제34권2호
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• pp.45-64
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• 2024

In international transactions, a demand guarantee is commonly used as a so-called independent bank guarantee to protect against the other party's default under, or breach of, contract). However, there is a risk that the independence and the documentary character of the demand guarantee may be abused by the beneficiary of the guarantee, who may fall into the temptation to demand or call for payment under the guarantee by preparing documents that appear to constitute a complying demand for payment, even though the demand has no conceivable basis. In Korea, through case law, a legal rule has been developed to prevent such abusive calls for payment. This paper examines how such rule that prohibits abuse of rights is applying in the context of counter-guarantees. To this end, this paper first considers the concepts of a demand guarantee and a counter-guarantee and the basic legal principles applicable thereto. And then this paper considers abusive calls under the guarantees, that exceptionally works as grounds for refusal of payment by guarantors and counter-guarantors, further looking at some situations in which the calls amount to be abusive under counter-guarantees in particular.

• 전기학회논문지
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• 제58권6호
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• pp.1087-1092
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• 2009

This paper presents a method for improvement of capacity payment in CBP(cost based pool) market. Capacity payments have been used as common mechanisms in various pools for compensating generators recognized to serve a for reliability purpose. Ideal pricing for capacity reserves by definition achieves a balance between economic efficiency and investment incentives. That is, prices must be kept close to costs, but not so low as to discourage investment. However, the price set is not easy. This paper concludes with market design recommendations that apply fuzzy theory for improvement of capacity payment. Following this model, market participants decided on their own based on their forecast to the market demand and the payment for it.

• 무역상무연구
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• 제50권
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• pp.109-136
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• 2011

Bank Guarantee system is commonly used as useful financial instruments to support various overseas and domestic business activities by providing bank guarantees. Therefore, it will be able to develop as a useful socio-economic useful system. However, some procedural problem can arise from the processes under demands for payment. Therefore, it is very important to review the requirements of the demand for payment and compliance standard for the examination of a presentation under the guarantee system. It is necessary to examine main issues under the revised URDG 758. The URDG introduced the same examination principle of "need not be identical to, but shall not conflict with' as that of UCP 600. The main changes of the URDG 758 like this imply the mitigation of the compliance standard for examination. So, This paper is to provide a comparative study of the regulations and laws for the examination standard and propose their implications and practical notes under bank guarantee system. For this purpose, this study will be examined the practical and legal issues focusing on the relative regulations of the revision URDG 758. It will also be reviewed and compared with the URDG, ISP98, UCP 600 and so on.

• Journal of Electrical Engineering and Technology
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• 제9권3호
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• pp.1125-1131
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• 2014

Application of residential demand response (DR) programs are currently realized up to a limited extent due to customers' difficulty in manually responding to the time-differentiated prices. As a solution, this paper proposes an automatic home load management (HLM) framework to achieve the household minimum payment as well as meet the operational constraints to provide customer's comfort. The projected HLM method controls on/off statuses of responsive appliances and the charging/discharging periods of plug-in hybrid electric vehicle (PHEV) and battery storage at home. This paper also studies the impacts of different time-varying tariffs, i.e., time of use (TOU), real time pricing (RTP), and inclining block rate (IBR), on the home load management (HLM). The study is effectuated in a smart home with electrical appliances, a PHEV, and a storage system. The simulation results are presented to demonstrate the effectiveness of the proposed HLM program. Peak of household load demand along with the customer payment costs are reported as the consequence of applying different pricings models in HLM.

• 대한교통학회지
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• 제26권5호
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• pp.101-115
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• 2008

본 연구는 교통선진국에서 활발한 연구 및 개발 등을 거쳐 일반화 작업 등이 시행되고 있으며 국내에서도 경찰청과 도로교통공단이 함께 도입을 추진하고 있는 도시교통정보시스템(UTIS : Urban Traffic Information System, 무선교통정보수집제공시스템으로 더 잘 알려짐)을 소개하고, 추후 UTIS 도입 시, 서비스 이용 수요 예측과 실제 소비자인 운전자가 지불 방식별로 만족할 수 있는 적정 이용료에 대하여 연구하였다. 본 연구에서 얻어진 결과를 요약하면, 다음과 같다. 첫째 UTIS 서비스 이용 수요 예측 모델을 이항 로짓 모델을 통해 구축하였다. 둘째 UTIS 서비스의 이용료 지불 방식별 이용 행태 예측 모델을 순서형 프로빗 모델을 통해 구축하였다. 셋째, UTIS서비스의 이용 행태별 지불 방식별 선호도를 파악한 뒤, 이용료 지불 방식별로 민감도 분석을 통하여, 이용률의 단위 탄력점을 파악하고, 이용자 측면이 고려된 각 지불 방식별 적정 이용료를 서비스 공급자에게 제시하였다.

• 대한토목학회논문집
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• 제28권6D호
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• pp.791-799
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• 2008

이용자들에게 이용성과 효용성이 높은 버스정보시스템 구축을 위해서는 이용자들이 원하는 정보종류와 이용수요를 파악하는 것이 필요하므로, 본 연구에서는 핸드폰 등에 버스정보를 제공했을 경우의 버스정보에 대한 선호도분석 및 이용수요를 예측하는 것을 목적으로 하였다. 본 연구에서 얻어진 성과는 첫째, 컨조인트 분석에 의한 버스정보의 선호도 분석을 통하여 개별 속성 수준들에 대한 중요도, 부분효용 변화치의 가치를 평가할 수 있었다. 둘째, 이항 로짓 모형에 의한 버스정보 이용수요예측 모형을 구축하여 이용자의 이용여부에 영향을 미치는 요인들과 이용률을 파악할 수 있었다. 셋째, 순서형 프로빗 모형을 사용하여 버스정보 잠재 이용자를 대상으로 통화당 지불방식이나 월별 정액제의 지불방식별로 이용행태모형을 구축을 통하여, 이용료 지불방식별로 통화횟수, 민감도 분석을 통하여 이용료에 대한 단위 탄력점을 분석하고, 적정 이용료와 이용확률을 분석하였다. 본 연구는 이용자들의 정보에 대한 선호도 분석, 다양한 요구사항을 반영한 이용수요 예측과 적정 이용료 산정이 가능하므로, 향후 효율적인 버스정보정책과 버스정보 이용률을 제고시킬 수 있는 근거로 활용할 수 있을 것이다.

• 수산경영론집
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• 제32권2호
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• pp.73-89
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• 2001

The market conditions of sea mustard is changing by overproduction, decreasing price, Import of blanched and salted sea mustard from China into Korea domestic market and increasing market share of sea mustard of China in Japan. In addition, the price support program in sea mustard aquaculture must be modified due to the restriction of domestic support by international organization such as WTO. There are two ways to solve those problems. First is that finding a way to solve the overproduction of sea mustard. One of possible ways is the production adjustment by Marketing Order. Second is that finding an alternative way to replace price support program. The possible way is Direct Payment instead of purchase stockpile system. To introduce marketing Order, outlook center, organization of self-management, production adjustment through output control measure, improvement of market structure, and education/publicity arc necessary. Also, to implement marketing order, setting a model business by government is required. There are two steps for implementation of marketing order. First step is to construct Order Committee including organization of producer, people related marketing. However, this committee must run by government for certain short-term. Second step is to improve quality of product and acceleration of demand. At visual point that enforcement of the first step is completed, government has process that government transfers Order Committees self-correcting. It is desirable that government only conduct the support acts such as quality improvement and acceleration of demand. Also, at early stage it is necessary to have aid system for marketing order For example, we can expect that income increase by production adjustment in long run. However, in short run the income of producer may decrease so, it is required to compensate his economic lose. For compensation, The useful means that can be utilized is direct payment. Direct payment is not continued policy. Also, when production adjustment policy such as Marketing Order has effective results, Direct Payment as an assistant measure must be reduced or abolished. Therefore, when production adjustment acts as an effective tool to control overproduction, Direct Payment system.