• 무역상무연구
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• 제64권
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• pp.131-154
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• 2014

The International Standard Banking Practice for the Examination of Documents under UCP 600 (ISBP 745) is the product by the Drafting Group of the ICC Banking Commission during a number of years. ISBP 745 is a practical complement to UCP 600, ICC's universally used rules on documentary credits. ISBP 745 does not amend UCP 600. Two rules should be read in their entirety and not in isolation. ISBP 745 explains, in explicit detail, how the UCP 600 rules are to be applied on a day-to-day basis. It fills a needed gap between the general principles announced in UCP 600 and the daily work of the documentary credit practitioners. It has developed into an invaluable aid to banks, corporates, logistics and insurance companies alike, on a global basis. By using ISBP 745, document checkers can bring their practices in line with those followed by their colleagues worldwide. The result should be a significant reduction in the number of shipping documents refused for discrepancies on first presentation. This study aims to summarize the reasons for revision of the ISBP rules and the key-points of ISBP 745, and to provide the documentary credit practitioners with some considerations under its practical application.

• 무역상무연구
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• 제60권
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• pp.109-139
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• 2013

This paper is to review the Uniform Rules for Bank Payment Obligations(URBPO 750E) which were developed by the Banking Commission of the International Chamber of Commerce and to present the implications. The rules were unanimously adopted during Lisbon meeting of the ICC Banking Commission on April 17th, 2013 and taken effect as of July 1, 2013. A BPO is an irrevocable undertaking given by an Obligor bank to a Recipient bank to pay a specified amount under the condition of a successful electronic matching of data or acceptance of mismatches. It is an alternative instrument for trade settlement, designed to complement existing solution and not to replace them(ICC,750E). The BPO enables banks to provide sellers and buyers with advanced risk mitigations and enhanced financing services. The BPO will improve trade processing efficiency such as increased transaction times, reduced handling cost, and others. It is believed that the BPO will have an important role to play in supporting the development of Supply Chain Finance in international Trade. So, This study will review the provisions and application of the URBPO 750E based on documentary materials including swift com and icc.org and so on.

• 한국중재학회지:중재연구
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• 제25권3호
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• pp.33-58
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• 2015

Arbitration clauses or institutional arbitration rules rarely, if ever, specify the law applicable to the arbitration agreement. A wide range of laws may thus govern this question, such as the law at the place of arbitration, the law where the agreement or the award is enforced or the law of the main contract between the parties. It is also conceivable that international uniform law or soft law may play a role. Tribunals and courts seized with this question must consequently decide which of these various laws shall apply to verify the existence and validity of the arbitration agreement. This paper picks up on this controversially debated conflict of laws issue. At times, this debate is characterized by a strong divide between arbitration and international trade law practitioners. But are the different approaches really leading to diverging results in arbitral practice?

• 무역상무연구
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• 제13권
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• pp.303-328
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• 2000

International Trade has led to the increase of the demand of international transport, and also the development of transport vehicles has been promoting the volumes of international trade. Therefore, the development of international transport not only incurs claims concerning transportation but also establishes various international rules to settle the claims between the shippers and the carriers in the course of transport. With a view to settling the claims successfully, the men who are concerned in the transport have to know the principle and scope of carrier's Liability. In this paper, I would like to find out the principle of Liability for the shippers. Therefore, I classify the Liability principle of the international transporter under the UNs Convention on International Multimodal Transport of Good(1980) and UNCTDAD/ICC Rules(1991) in three system - Network Liability System, Uniform Liability System and Modified Uniform Liability System.

• 무역상무연구
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• 제22권
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• pp.107-135
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• 2004

The International Standard Banking Practice for the Examination of Documents under Documentary Letters of Credit (ISBP) is the product by the ICC Banking Commission, October 2002. The ISBP is a practical complement to UCP 500, ICC's universally used rules on documentary credits. It explains, in explicit detail, how the rules are to be applied on a day-to-day basis. It fills a needed gap between the general principles announced in the rules and the daily work of the documentary credit practitioner. By using the ISBP, document checkers can bring their practices in line with those followed by their colleagues worldwide. The result should be a significant reduction in the number of documents refused for discrepancies on first presentation. We are convinced that the benefits of the ISBP will not only be of high importance for users of UCP 500, but also that the practices in the ISBP will survive a UCP revision, or will even be included in the next version of the rule (so call "UCP 600"). Though the above-mentioned benefits of the ISBP, there are several troublesome topics that will probably have to wait for a new UCP revision. It will be a challenge for the drafters of a future UCP to find solutions that will further clarify these points.

• 무역상무연구
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• 제13권
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• pp.657-677
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• 2000

Since January 1, 1999, traders, bankers and their counsels worldwide have available for their use the first set of rules exclusively dealing with standby letters of credit:the International Standby Practices(ISP98). Numerous standbys have alreadby been issued in the United States and worldwide subject to the new ISP. The international banking community is anticipating an increasing demand from their customers to issue ISP-governed undertakings. Before the adoption of ISP, traders and bankers had only the choice of issuing their standby subject to the International Chamber of Commerce's(ICC) Uniform Customs and Practices for Documentary Credits(UCP) and, to a much lesser extent, to the ICC's Uniform Rules for Demand Guarantees(URDG). However, practice showed that UCP rules are not easily adapted to regulate transnational standbys. Indeed, UCP was conceived to govern documentary credits, which are intended to serve as a means of payment. By contrast, standbys are means of guaranty. The core of UCP cannot therefore be appropriate for standby practices and, as a consequence, a number of UCP's provisions have to be excluded in the standby's text. UCP's shortcomings indicated above fulfil the requirements of a key factor for the success of uniform rules. Indeed, to achieve success in the sense of meeting the market's acceptance, any such rules should fill a widely recognized need expressed by merchant community to which such rules are addressed. The ISP cleary has such a vocation. Nonetheless, the already largely encumbered regulatory environment of guarantee devices can hardly go unnoticed. The question therefore arises as to the proper place of ISP in such a context.

• Journal of Korea Trade
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• 제25권1호
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• pp.203-219
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• 2021

Purpose - The purpose of this study is to review and analyzes the contract of carriage and delivery/transport document in light of the major changes made to the Incoterms^® 2020 rules forced into effect on January 1st, 2020. Design/methodology - This study analyzed responsibility for the loading and unloading of goods under the contract of carriage in Incoterms 2020^® rules forced into effect by the ICC from January 1, 2020, and what document must be presented as evidence of delivery by the seller. Findings - A review revealed that in Rule C, the costs of unloading at the place of destination are determined by the terms of the contract of carriage, and in the DAP and DDP rules, if the seller bears the unloading costs, such unloading costs cannot be recovered from the buyer. To settle this issue, the seller needs to make a contract of carriage by sea with the carrier on FI terms. Furthermore, in the case of containerized goods that the FCA should be used, FOB was misused because the seller could not present an on-board bill of lading in the L/C transaction. However, it was confirmed that in FCA, the parties can use an optional mechanism to issue an on-board bill of lading. Originality/value - Incoterms 2020^® rules are still widely used in international trade by parties to contract sales around the world, just like Incoterms 2010^® rules. This study attempts to reduce or eliminate disputes that may arise from interpretative misunderstandings between the parties in the contract of sales concluded by the seller and the buyer.

• 무역상무연구
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• 제33권
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• pp.145-164
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• 2007

The Arbitration costs provided in Article 31 consist of arbitrators' fees, arbitrators' expenses, ICC administrative expenses, expenses of experts appointed by the Arbitral Tribunal, and parties' costs. Among them the first three items are independently determined by the Court in accordance with the Scale, while another two items are determined by the arbitrator and each party. The three items determined by the Court are communicated by Secretariat to the Arbitral Tribunal for inclusion in the award following the approval of the draft submitted to the Court. Also the final award may decide which of the parties shall bear them or in what proportion they shall be borne by the parties. According to Article 31(3), the arbitrators have complete jurisdiction or discretion to allocate the costs. Three common approaches are as follows; First, all of the costs are borne by the losing party. Second, all of the costs are allocated in proportion to the outcome of the case. Third, all of the costs determined by the Courts are shared equally by the parties and both parties bear their own costs. But, both parties may include intentions in accordance with the principle of party autonomy. For example, if the parties wish to ensure that the arbitration costs be shared equally and that the arbitrator make no allocation of costs or fees, the following sentence could be added to the arbitration clause in their contract. "All costs and expenses of the arbitrators [and the arbitral institution] shall be borne by the parties equally; each party shall bear the costs and expenses, including attorneys' fees, of its own counsel, experts, witness and preparation and presentation of its case" And also, if the parties wish expressly to link any allocation of costs, and fees to the result of the award the following could be added to the arbitration clauses. "The arbitrators may award to the prevailing party, if any, as determined by the arbitrators, its costs and expenses, including attorneys' fees"

• 대한물리치료과학회지
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• 제29권1호
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• pp.30-40
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• 2022

Background: This study analyzed the reliability of smart guides for gait analysis in patients with stroke. Design: Cross-sectional study. Methods: The participants of the study were 30 patients with stroke who could walk more than 10 m and had an MMSE-K test score of ≥24. Prior to the experiment, the subjects or their guardians entered their demographic characteristics including gender, age, height, weight into the prepared computer. The experiment was conducted in a quiet, comfortable, and independent location, and the patient was reminded of the equipment description, precautions, and safety rules for walking. A smart insole was inserted into the shoes of the patients and the shoes were put on before the patients walked three times on the 5-m gait analysis system mat installed in the laboratory. Results: The reliability of the equipment was compared with that of the gait analysis system, and the results of this study are as follows: among the gait analysis items, velocity had an ICC=0.982, the cadence had an ICC=0.905, the swing phase on the side of the gait cycle had an ICC=0.893, the swing phase on the side of the gait had an ICC=0.839, that on the non-affected side had an ICC=0.939, single support on the affected side had an ICC=0.812, and support on the non-affected side had an ICC=0.767. Conclusion: The results of this study indicate no statistical difference between the smart insole and the gait analysis system. Therefore, it is believed that real-time gait analysis through smart insole measurement could help patients in rehabilitation.

• 무역상무연구
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• 제14권
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• pp.51-72
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• 2000

The International Chamber of Commerce introduced in September 1999 its new publication Incoterms 2000(ICC Publication No 560). The ICC was building on the past experiences in its revision works. I have discussed and commented constructively some main features and problems of the new set of terms. Incoterms 2000 takes into account, like already its predecessor did, the possibility that the parties may decide to communicate electronically and replace a paper transport document by an equivalent electronic data interchange message. This possibility will certainly be much more used under the present set of terms. Incoterms 2000 is well recognised by the international legal community, taking into account also the endorsements by UNCITRAL to its predecessor in the early 90's. Incoterms 2000 does not have major competitors remaining. However, the ICC still faces a battle to convince more traders to refer to its terms and to teach traders to understand and to apply them correctly. Incoterms 2000 is a tool for international trade created by a global business organisation. Its members decide every day if and to what extent they make use of this tool. The members of the ICC have participated actively in the drafting and commenting of Incoterms 2000 and thereby shown again a great deal of dynamism in creating rules for their own everyday use. Under these circumstances, "ship's rail approach" related to delivery point, risks and costs should be replaced by "on board approach" under FOB, CFR and CIF terms.