• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.13
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• pp.515-536
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• 2000

This study analyzes the U.S. case law which challenges the legal conclusions of the district court with respect to the applicability, and effect, of the doctrine of waiver and estoppel in addition to the doctrine of documentary cure. The impliations are as follows. First, the documentary cure requirement can not be interpreted to mean early enough to allow the beneficiary to cure and represent the documents before the presentment deadline or expiry date of letter of credit. The mere fact that the presentment period expired before the completion of bank's review and notification process does not compel any conclusion about whether the examiner spent a reasonable amount of time examining the documents. Indeed, the reasonable time requirement does not imply that banks examine a presentation out of order or hurry a decision based upon particular needs or desires of a beneficiary. Secondly, even if the doctrine of waiver can apply to letter of credit governed by the strict compliance standard, a one-time acceptance of discrepant documents by a bank does not waive the bank's right to insist upon conforming documents in all subsequent letter of credit transactions between the bank and beneficiary. Revised UCC Article 5 is highly persuasive on this point: waiver of discrepancies by issuer or an applicant in one or more presentation does not waive similar discrepancies in a future presentation. Neither the issuer nor the beneficiary can reasonably rely upon honor over past waivers as a basis for concluding that a future defective presentation will justify honor.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.57
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• pp.111-135
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• 2013

This study analyzes some important spin-off effects of the provision, UCP600 Article 14(6), through the methodology of the expected utility maximization theory based on the state-contingent commodities model. Some technical implications of this study are as follows. First, the risk-averse beneficiary will choose to present his documents more than 5 days before expiry date by paying a higher risk premium (so-called cure period) for full assurance to cure documentary discrepancies, if expressed economically, he pursues loss reducing activities to the point where the expected marginal product of his activities is less than its marginal cost. Secondly, where the effectiveness of securing cure period is uncertain, the risk-averse beneficiary will choose to present documents just on the expiry date without securing any cure period by paying no risk premium. This study finally suggests the safe harbor standard should be optimal solution only if it is supplemented by the hidden reasonableness standard for balancing the conflicts of interest between beneficiaries and banks.

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

• Journal of Sasang Constitutional Medicine
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• v.11 no.1
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• pp.221-240
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• 1999

1. Purpose of study In the medical science of 'Sasang', a constitutional examination(diagnosis) and a medical treatment are important however a dietary cure is considered as very important at the medical prevention and treatment. But there has been a confusion due to the different view concerning the constitutional foods in between scholars. There it is necessary for us to bring up the theoretical basis of the 'Sasang' constitutional - dietary cure by means of the bibliographical study in relation to a historic, characteristics, efficiency of the major foods. A mellow as called "Baekchejiju" has been used as a source of adding food materials when we make a boiling soup, which is only in Korea but not other countries case. We also studied a hollyhock, a 'Darkpull', a sunflower together with a mellow, because these plants contains a similar characteristics and same chinese word of 'Gue' at their name. At this study we would like to bring up the basis correcting the evil of the misinterpretation to be translated 'Gue' into 'Sunflower', which would be helpful to the current academic circles studied very rarely for the introduction process of sunflower. 2. Method of study We did a comparative study based on not only 'Bonchoseo - original plants book' but also agricultural books, boos of the same kinds and private books. 3. Result of study 1) A mellow has been changed its inscribed name from 'Abushil' to 'A-uk', to 'A-ok', to 'A-uk'. And a winter mellow is called as 'Dol-a-uk' which means the thing is changed a year. 2) The heliotropism of mellow has been used as the symbol of the loyalty and the intelligence. Its meaning has been interpreted expansively engaging with the heliotropism of a hollyhock, a Darkpull, and a sunflower. 3) Once 'Darkpull' had been recognized as 'one day flower'. But after sunflower come, people have confused and misread 'Darkpull' by 'Sunflower'. 4) The first record of sunflower among the existing bibliographical documents is "Chung-jang-gam-chun-seo" (1795). And It is presumed thal the sunflower had introduced in Korea at the early to mid of the eighteen century. 5) The interpretation for mellow has been made s confusion by a several documentary and dictionary record, but should be corrected to be right.

• Journal of dental hygiene science
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• v.9 no.5
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• pp.507-511
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• 2009

The purpose of this study is to analyze the dental service system in correctional institutions and 10 find the factors for improving inmates' oral health. This study is comprised of document review, telephone and questionnaire survey. The subjects of questionnaire survey are public health dentists and doctors in correctional institutions. They responded to questionnaire and the survey was collected from previous research and selected information about the dental service system. The findings of the study were as follow : Documentary survey 1. According to 2004's study, there are 42 dental offices in 46 all correctional institutions. 2. Criminals who took an health examination occupied 69.0% when committed to a jail in 2002's study. Majorities of them(81.5%) responded that they didn't take any oral examination. Telephone & Questionnaire survey 1. Full-time public health dentists are 26 in 2009. There is no correctional institution having oral health providers in 26 correctional institutions surveyed. 2 About 10 patients use the dental services in a day. Part-time dentists visit 4 times a month as average in 80% of institutions. 40% of institutions responded dental treatments can't be progressed conveniently because of the lack of oral health providers. 3. 80% of respondents answered that it is hard to cure prisoners, and that's because they are forbidden to get out of the institutions. 4. Only 20% of correctional institutions offered the oral hygiene instructions. There is no regular oral hygiene education for all inmates. 5. They need to increase the number of oral health providers.