• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.13
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• pp.563-579
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• 2000

Until July 1, 1996, no international rules, other than the simple practices contained in the UCP 500 have existed for the processing of bank-to-bank reimbursements. At last, ICC Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits(Pub. No. 525) have been published on July 1, 1996. Our country have adopted the URR 525 on August 1996. But in view of the present number of countries adopted the URR 525, I think our country is very impetuous. In order to comprehend the URR 525 correctly, this study is carrying out to clarify the legal principles on reimbursements among issuing banks, nominated banks, unauthorized banks. Secondly, this study is carrying out indicate the background of establishing, the main contents, the approval and the criticism of URR 525. Finally, this study is carrying out to point out the matters that demand special attention about the operation of URR 525

• International Commerce and Information Review
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• v.8 no.3
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• pp.99-119
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• 2006

The recent trend in the payment terms of international trade shows the gradual shift toward more diversified payment methods (from L/C to not L/C) in order to cope with the increasingly dynamic international transactions in a more flexible manner. The reasons behind this recent shift are as follows : first, the global trade market is breaking away from the traditional L/C methods based on letters of credit toward a not L/C methods. nother reason for the changing trade payment methods is the increasing volume of intra transactions between headquarters and their foreign subsidiaries based on collection payment methods. Having mentioned the above problems that impede the Korean export insurance system, some suggestions can be put forward through a comparative analysis with foreign export insurance system. First, inducing private investments is one way of strengthening financial health of the KEIC. The KEIC also needs to diversify its insurance coverage adapting to the changing international trade environments.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.68
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• pp.1-21
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• 2015

The purpose of this study is to propose a new mechanism for the global transmission of electronic trade documents and to promote them using it. Trade settlement methods are changed from L/C bases to non-L/C bases and in particular, the telegraphic transfer is dramatically increased since mid 1990. But the status of transmission of electronic trade documents still rely on the letter of credit and bill of lading. So it need to change the process of transmission of electronic trade documents utilizing non-negotiable sea waybill instead of bill of lading. In this study, I pointed out two problems as obstacle factors in global transmission of electronic trade documents. First is the system connection problem between domestic and foreign banks and second is the electronic right transfer problem in the bill of lading. Electronic bill of lading has already been made, but are not used and e-Nego has also not been activated under the above issues. Therefore, it should be solved previously the above problems for the global transmission of electronic trade documents under the letters of credit. However, in transactions of transfer, it does not need the inter-bank connection and also does not occur the electronic right transfer problem of bill of lading if using the non-negotiable seaway bill instead of bill of lading. In this paper, I recommend the global transmission strategies of e-trade documents using the non-negotiable sea waybill in transactions of transfer. Hopefully, I expect the activation of global transmission of e-trade documents through the utilization of electronic non-negotiable sea waybill as suggested by this study.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.65-84
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• 1999

During the past few decades, we have witnessed three approaches to overcome the legal disparities between trading countries: - determining the individual governing law in accordance with the conflict of laws principle; - unifying and harmonizing private international law into uniform rules and substantive laws under the auspices of ICC, UNCITRAL, UNIDROIT and various NGOs ; and - drafting model laws like the UNCITRAL Model Law on Electronic Commerce and promoting member countries to enact them. Against this backdrop, the United Nations Convention on Contracts for the International Sale of Goods (CISG) and the process by which it was adopted, established the benchmark for the unification of commercial law. The CISG, completed in 1980, merged civil and common law concepts and came into force in 1988 after a certain number of countries endorsed the treaty. Besides the CISG, the U.N. Limitations Convention and the UNIDROIT Principles of International Commercial Law, to name a few, have attempted to set cross-border legal norms and standards in the international business transactions. However, since the advent of computer-based commerce, there have emerged all-out efforts to establish uniform rules before national legal systems have been developed. As a consequence, the Model Law on Electronic Commerce has become a specimen legislation covering functional equivalents of paper-based writing and signature. For the credit enhancement exemplified by the Uniform Rules for Demand Guarantees (ICC Publication No.458), the UNCITRAL prepared the U.N. Convention on Independent Guarantees and Stand-by Letters of Credit, which was adopted by the U.N. General Assembly in 1995 but remains still not effective as only two countries have ratified this treaty so far. In this connection, two draft conventions underway at UNIDROIT and UNCITRAL deserve our attention as the probability of unification in the Korean Peninsula is mounting. They are to create security interests for commercial finance in moveable equipment and accounts receivable. The UCC-type security rights are regarded to be useful to enable the North Koreans with limited properties to borrow from the banks.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.60
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• pp.141-175
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• 2013

The purpose of this study aims to the implications by the introduction of TSU/BPO system as a instrument of trade settlement. Jointly with financial messaging provider SWIFT, the ICC Banking Commission has developed the URBPO to take into account the legitimate expectations of all relevant sectors. Once the goods have been shipped, the seller's bank uploads the shipping and logistics data to the TSU to be checked against the baseline. URBPO is the first ever set of standards in supply chain finance that governs BPO transactions worldwide. BPO enables banks to reduce the risks associated with international trade to the benefit of both buyers and sellers. A BPO is an irrevocable undertaking given by an Obliger Bank to a Recipient Bank to pay a specified amount under the condition of a successful electronic matching of data or acceptance of mismatches. The BPO should be viewed as an exercise in collaboration between trading partners and their banks. Drawings upon global standards and incorporating the benefits offered by letters of credit, the new instrument has the potential to benefit all parties in a trade transaction-and bring trade settlement into the 21st century.

• Journal of KIISE:Computing Practices and Letters
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• v.5 no.6
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• pp.809-815
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• 1999

본 논문에서는 현재 웹의 주요한 기술로 부각되고 있는 액티브 서버페이지와 동적 웹 기술을 이용한 가상교육 시스템 구현에 대해서 다룬다. 이 시스템은 사용자로부터 프로그램 소스를 보호할 수 있고 또한 인터넷 서버에서 실행되는 액티브 서버 기술을 동적 웹 기술과 접목하여 사용자를 인지, 구별하고 사용자의 정보에 적합한 웹 페이지를 구성할 수 있다. 또한 가상교육시스템은 학년, 학과, 수강신청 정보에 따라서 적합한 사용자 환경을 구성하여 주고 수업진도에 따라 교안 및 정보를 제공할 수 있다. 이렇게 구성함으로써 시스템의 접속 사용자에 관련된 적합한 정보를 제공하여 사용자가 원하는 교육서비스를 받을 수 있게 한다.Abstract In this paper, we present our implementation of cyber education system using Dynamic Web and Active Server Pages, key technologies of the current web. This system is composed of web pages fitted to user information, which is collected and differentiated by both Active Server Technology running at server and protecting program source and Dynamic Web Technology. This system provides information and teaching content according to the progress of a course and user environments based on information such as a school year, a department and credit request information. Therefore login users can receive education services by providing adequate information related to them.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.13
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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.

• The Journal of Information Technology
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• v.4 no.3
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• pp.1-17
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• 2001

This study is to examine some legal problems of cyber trade transactions and to suggest some policy implications to vitalize cyber trade by internet accomplishes electronic business from all process integration of production, marketing and customer service. However, there are some legal problems for the electronic commerce to be used in international trade activities such as trade contract transport documents and payment systems by internet. First international trade rules have to be legislated so that electronic documents has same legal function like traditional documents. Also electronic signature must has authenticity, integrity, non-repudiation, writing and confidentiality. Second, traditionally international payment systems such as letters of credits, remittance, documentary collections and open account have been operated as an important and popular method of payment. In the modern world of electronic commerce, information technology has made it possible to pay for the sale of goods and services over the internet. The payment methods such as Credit Card, Debit Card, Electronic Cash, Electronic Fund Transfers enable partly sellers, buyers and service providers to settle payment electronically through the internet. To settle the problems of payment systems, the security requirements for safe electronic Payments such as authenticity, integrity, non-repudiation have to be guaranteed. Also, electronic data interchange in transport documents has to be adopted and negotiability of electronic bills of lading has to be guaranteed. Electronic payment systems through SWIFT enable the sellers and the buyers to conduct and settle international business-to-business electronic commerce in case of solving the above problems and harmonizing the Bolero project.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.107-126
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• 2016

The parties in International Sale of Goods including Korean Firms Should note ; The buyer must pay the price for the goods and take delivery of them as required by the contract and CISG. The obligations mentioned in Article 53 are primary obligations which are to be fulfilled in the normal performance of the contract. The buyer has to take delivery at the respective place within a reasonable period after this communication since he cannot be required to take delivery immediately. Refusing to take delivery in case of delay not constituting a ground for avoiding the contract makes no sense, since this would lead to even later delivery. The buyer's obligation to pay the price includes taking such steps and complying with such formalities as may be required under the contract or any laws and regulations to enable payment to be made. International sales contracts frequently prescribe that the buyer has to act in advance, that is before the seller starts the process of delivery. Such acts may be either advance payments or the procurement of securities for payment as letters of credit guarantees. On the other hand, The seller deliver the goods hand over any documents relating to them and transfer the property in the goods, as required by the contract and CISG. The seller must deliver goods which are of the quantity, quality and description required by the contract and which are contained or packaged in the manner required by the contract. Except where the parties have agreed otherwise, the goods do not conform with the contract unless they are fit for the purposes for which goods of the same description would ordinarily be used are fit for any particular purpose expressly or impliedly made known to the seller at the time of the conclusion of the contract, except where the circumstances show that the buyer did not rely, or that it was unreasonable for him to rely, on the seller's skill and judgement. The buyer may declare the contract avoided if the failure by the seller to perform any of his obligations under the contract or CISG amounts to a fundamental breach of contract. The seller may declare the contract avoided if the failure by the buyer to perform any of his obligations under the contract or CISG amounts to a fundamental breach of contract.