• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.34
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• pp.27-52
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• 2007

As in more than half of the litigated cases, non-conformity of the goods is alleged by the buyer and, hence, the question aries of whether the buyer has given notice within a reasonable time and is thus allowed to rely on the lack of conformity at all, differences in interpreting the meaning of "reasonable time" in Article 39(1) CISG endanger uniformity of international sales law in a core area. This uniform interpretation of the "reasonable time" in Article 39(1) CISG can, however, not be achieved by merely making recommendations to courts and arbitral tribunals that case law from other CISG jurisdictions should be considered. This can at best lead to confusing results. As you know, the determining of reasonable time is depending on the circumstances concerned with the particular case. So the term 'reasonable time' has proven too imprecise due to its flexibility without defined uniform scale to assist the practitioners in a uniform application of Art. 39(1). Therefore I suggested the factors that influenced the determining of the reasonable time. The factors currently influencing whether an Art. 39(1) notice is given within reasonable time in international practice are: any international trade usage and practices, the nature of the remedy chosen by buyer, the nature of the goods delivered and the mode of dealing with the goods.

• International Commerce and Information Review
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• v.10 no.3
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• pp.75-99
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• 2008

In the commercial transaction sellers use various sales strategies to increase profits, and this kind of sales strategies often causes damage to customers, it, moreover, is true that these examples happen in the electronic commercial market much more than in traditional one because of the characteristics if the electronic commerce. That's why people transact one another without face-to-face meeting in the electronic commerce market, so people one likely to fall for a trick to cheat and deceive. It's no doubt that the frequency of crime is higher than in face-to-face market. For that reason Cooling Off System, Consumer Compensation Insurance, Mutual Aid Association and Billing Payment Deposit System are in force the law related electronic commerce to protect customers' rights. In this paper it will be discussed about the periods of Cooling Off System and a received commodity notice of the Billing Payment Deposit System. Regarding these periods seven days for Cooling Off period and three days for a received commodity notice period are stipulated under the law of related electronic commerce to protect customers' rights, But each period has to be differentiated depending on each goods for this period to be reasonable and proper. Therefore in this study it will be focused on these facts and each period will be classified by the goods' purpose of purchase and quality.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.22 no.1
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• pp.82-90
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• 2012

Objectives: This study was performed to provide workplaces with political guidelines that apply international CMRs (Carcinogens, Mutagens, Reproductive toxins) information to Public Notice of TLVs (Threshold Limit Values). We analyzed information supply status about CMRs of international agencies and compared substances for which TLVs are set in KMoEL (Ministry of Employment and Labor in Korea). Methods: We referred to the reliable literature about classification criteria of CMRs corresponding to UN GHS (Globally Harmonized System of classification and Labeling of chemicals) and Public Notice No. 2009-68 'Standard for Classification, Labeling of Chemical Substance and Material Safety Data Sheet' in KMoEL. The classification system of CMRs in professional organizations (IARC, NTP, ACGIH, EU ECHA, KMoEL, etc.) was investigated through the internet and literature. Conclusions: 191 chemical substances among total 650 substances with TLVs are classified as carcinogens. Also, 43 substances classified as mutagens, and 44 as reproductive toxicants. These results suggest that the information of CMRs in Public Notice of TLV will be reorganized to 191 carcinogens, 43 mutagens, and 44 reproductive toxicants.

• East Asian Journal of Business Economics (EAJBE)
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• v.9 no.3
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• pp.15-28
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• 2021

Purpose -In the credit transaction, the issuing bank must examine the documents to pay the credit amount. In order to smoothly execute the credit transaction, document review is a key element, so the 5th revised credit unification rule specifically defines the document review procedure. Research design, data, and methodology - The document review procedure specified in the UCP Rules can be largely divided into the document review period and the rejection procedure for inconsistent documents. First of all, confusion was caused by the ambiguous regulation.. Result - With regard to the document review period, in the actual credit transaction, the issuing bank often negotiates with the issuing client about the waiver of the document inconsistency. Next, in the process of notifying the rejection of inconsistent documents, the issuing bank shall send the rejection notice. Conclusion - This study suggests that the requirement to list all inconsistencies makes it impossible for the issuing bank to further notify the refusal, thereby limiting the right to defend against inconsistencies not listed in the first refusal notice and consequently having the effect of matching them. In addition, the issuing bank's rejection notice is closely related to the beneficiary's exercise of the right to replenish documents.

• Journal of Arbitration Studies
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• v.32 no.2
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• pp.31-53
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• 2022

This paper examines various legal issues related to the assignment of monetary rights under UNIDROIT Principles. To this end, this paper examines the concept and the effects of the assignment of rights, the related legal structure and notice to the obligor, and some uses in practice (II). Then, as a matter of law in the context of the assignment of monetary rights under UNIDROIT Principles, this paper examines what may happen to the legal relationship between the parties and what practical considerations need to be taken by them when the obligor has legal defenses against the assignor, when successive assignments are made by the assignor, when the obligor exercises against the assignee its right of set-off before receiving the notice of assignment, when the assigned right does not exist at the time of the assignment, when any payment is received from the obligor before the notice of assignment is given, and finally when the obligor becomes insolvent or refuses to pay.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.31 no.4
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• pp.417-426
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• 2021

Objectives: The purpose of the Act is to comprehensively consider the legislative notice of the Enforcement Decree of the Serious Accidents Punishment Act for each important issue in terms of system, content, and execution. Methods: We examine the legislative notice of the Enforcement Decree of the Serious Accidents Punishment Act in-depth from the perspective of the effectiveness of disaster prevention, consistency of the legal system, and harmony with legal principles. Results: The proposed Enforcement Decree of the Act on the Punishment of Serious Accidents hardly resolves the uncertainties of the law, and there are many aspects that are unclear in the enforcement ordinance itself and that do not comply with constitutional principles. As a result, it is judged that it is difficult to for it to serve as an accident prevention standard due to its low predictability and that it will be difficult to achieve effectiveness in accident prevention. Conclusions: Ultimately, the law itself should be extensively reorganized in order to ensure universal and sufficient effectiveness, including the abolition of the Serious Accidents Punishment Act. In the short term, even the Enforcement Decree of the Act should be reorganized and supplemented in accordance with the law and safety principles.

• The Journal of Economics, Marketing and Management
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• v.5 no.3
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• pp.12-20
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• 2017

The study examined effects of psychological change of distribution environment upon commercial areas to investigate consumers' experience and theory and to suggest power of new management strategy for growth of retailers A The study investigated actual conditions of business transaction of hyper market by blind interview. In April, 2016, the author visited 6 manufacturers to do depth interview. The questionnaire between food manufacturers and hyper market investigated the Association of Food Industries in Korea, NH Nonghyup and large manufacturers in July 2012. Questionnaires of 25 companies were used after excluding questionnaire having poor and inadequate answers. The sales commission with large scaled distribution business decreased (0.3 ~ 0.7) to increase additional expenses such as number of salesmen, interior expenses and economic costs (0.7 ~ 40%). (source: Fair Trade Commission). Fair Trade Commission released types and notice of unfair trade of large scaled retail business based on monopoly regulation and fair trade (hereinafter called 'notice of large scaled retail) to prevent large scaled distribution business from doing unfair trade. The notice controled unfair trade at different position between large scaled distribution business and small vendors.

• Korea Trade Review
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• v.46 no.5
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• pp.173-194
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• 2021

This study aims to derive precaution points for issuing banks in refusing payment under L/C through literature review and examination of court cases and official opinions of ICC Banking Commission with regard to the provisions of article 16 of UCP 600 that stipulates obligations of issuing banks in refusing payment. If the issuing bank fails to act in accordance with this article, it shall be precluded from claiming that the documents do not constitute a complying presentation. Therefore, it is crucial that issuing banks should be well informed of this article. When discrepant documents are presented, however, issuing banks seldom refuse payment because, in most cases, the applicants waive the discrepancies. For this reason, issuing banks have few chances to deal with payment refusal in practice and thus they occasionally end up failing to observe the provisions of the article. Such court cases include Kookmin Bank and Korean Exchange Bank (currently Hana Bank) that failed to indicate discrepancies in the refusal notice losing the lawsuits. It should be noted that if issuing banks disregard the provisions of article 16 of UCP 600 and thus fail to indicate discrepancies in the refusal notice, they may face fatal situations in which they must make payment against discrepant documents.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.42
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• pp.163-186
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• 2009

On April 11, 1980, the "United Nations on Contracts for the International Sale of Goods" ("CISG") was prepared by the United Nations Commission on International Trade Law (UNCITRAL) and approved by a diplomatic conference in Vienna providing uniform law for international sales of goods. It took effect as of March 1, 2005, in Korea. It is set forth on the seller's remedies for breach by the buyer Section III (Art. 61 - 65) under the CISG. In this study, the focus is only on the seller's notice fixing additional final period for performance (Art. 63) and the right to avoid the contract (Art. 64), with examination on some relevant foreign arbitral awards rendered by the ICC and the CIETAC together. Article 63 provides that the seller may fix an additional period of time for reasonable length for performance by the buyer of his obligation. It was found from the above arbitral awards that the concept of 'reasonable length' should be decided on a case-by-case basis, given the specific circumstances in the case [Art. 63(1)]. It is provided that unless the seller has received a notice that he will not perform within the period so fixed, the seller may not, during that period, resort to any remedy for breach of contract in accordance with Article 63(2). Article 64(1) provides the means and grounds for avoidance of the contract, which can be avoided 1) when the breach of the buyer amounts to a fundamental breach of contract, or 2) when the additional period of time is fixed by the seller, unless the buyer declares that he will not perform so within the period of fixed time. As we examined in the above arbitral awards, it was held that the contract is avoided when the seller sends the final notice stating that he will avoid the contract, after the expiration of the additional period of time fixed by the seller in the ICC award. On the contrary, it was held that the contract should be deemed to be avoided exactly when the expiration of additional period noted in the avoidance notice is elapsed in the CIETAC award. Article 64(2) sets time limits for avoidance.

• Proceedings of the Korea Contents Association Conference
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• 2014.06a
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• pp.445-446
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• 2014