• Journal of Arbitration Studies
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• v.28 no.1
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• pp.3-26
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• 2018

This article examines whether parties may agree to contractually waive the right to bring annulment proceedings. Alternately it looks at whether certain grounds of annulment may be waived. The ability for parties to resolve this issue contractually by waiving this element of Article 52(1)(b) ICSID offers a potentially powerful solution. For parties to agree beforehand to the circumstances where tribunals have not 'manifestly exceeded their power' could allow them to remove the unpredictability of annulment on this foundation. Even in the event that an ad hoc committee is against the validity of waiver, it may be possible for a party to frame this restriction as an interpretative agreement by the parties rather than strictly as waiver of a ground of annulment. Ultimately, the wish to enter into such an agreement would likely only be driven by a few exceptional commercial need or prior negative experience with the remedy of annulment. In that cases, and depending on the nature of the specific concern with annulment, a limited waiver or interpretative agreement on certain Article 52(1) ICSID grounds may certainly be appropriate.

• International Commerce and Information Review
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• v.1 no.1
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• pp.41-55
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• 2008

The Visa Waiver Program of the United States increases the number of Korean tourists to the US but lso affects the number of the US tourists to Korea. One of the most important factors in the tourism industry is the increase in the demand for tourism and other related services. In this regard, the VWP is expected to be a new opportunity which generates such demands. It should be reminded that the sustainable development in the industry is essential rather than limiting to the effects of the VWP. Transportation and communication has recorded unbelievable advancement which will be continued in the future.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.16
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• pp.7-34
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• 2001

This Study analyzes the fact that whether or not, the applicant, by failing to object promptly to the facial discrepancies of the presented documents and to return those documents to the issuing bank, has waived his right to sue for breach of the Application agreement based on the recent Korea-US Case law. Some commentators claim that an applicant has a duty to notify the issuing bank within a reasonable time after receiving the documents that they do not comply with the letter of credit requirements and to return those documents to the issuing bank, and also suggest that a failure to do so result in a waiver of discrepancies that operates as a matter of law. But such decisions make little sense in letter of credit transaction. Unless otherwise agreed, Applicant agreement does not require that the applicant notify the issuing bank of any facial discrepancies of the documents or return those documents. Moreover there is no support in the body of law, i.e., UCP 500 or the Revised UCC Article 5, for an automatic waiver or preclusion arising from the applicant's failure to object promptly. In addition, beyond the lack of authority to support an automatic waiver arising from the applicant's failure to object and return the documents, in a letter of credit transaction the issuing bank is the only party charged with the duty of scrutinizing documents. Therefore, if there are discrepancies, it is the bank that should have to seek an express waiver from the applicant ; the issuing bank should not avoid responsibility for failing to notice discrepancies because the applicant was slow to scrutinize the documents closely or because the applicant failed to inform the issuing bank of such discrepancies. Requiring that applicants inspect documents independently defeats the purpose of retaining the issuing bank, erodes the bank's responsibility to perform its role diligently, and may result in the bank avoiding liability despite negligent payment. If the bank wants to require an applicant to report discrepancies promptly, he may include a provision in the Application agreement limiting the time limit within which the applicant must give notice of facial discrepancies and return the documents. This approach will ensure the continued wide-spread use of documentary credit as a reliable payment mechanism.

• Proceedings of the Korea Contents Association Conference
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• 2015.05a
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• pp.243-244
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• 2015

최근 제주 방문 외국인 관광 시장은 2000년까지일본 관광객의 시장 점유율이 50% 이상 차지했으나, 2008년 중반 이후 중국인 관광시장이 급성장함에 따라 시장 2013년 지역별 비중이 중국 76.5%, 일본 14.9%, 대만 3.9% 순위로 상위 3대 지역 운항이 전체의 95%를 차지하고 있다. 그 중 중국인 관광객이 가장 많은 분포를 차지하였는데, 이는 제주특별자치도의 무사증 입국제도의 홍보가 가장 큰 역할을 하고 있어서이다. 따라서 본 연구는 제주특별자치도가 시행하고 있는 무사증 제도가 제주 지역에 미치는 영향을 분석하였다. 이를 토대로 제주특별자치도가 아닌 다른 지역의 중국인 대상 무사증 제도를 시행하여, 중국인 관광객 유치 방안 마련에 기초자료로 제시해 보고자 한다.

• 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.

• Journal of Arbitration Studies
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• v.27 no.1
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• pp.3-35
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• 2017

For recent years, several disputes between Korean consumers and multinational companies have arisen. Since the disputes were big and material that children's safety was at issue, a question started if Korean law properly has protected consumers' rights against multinational companies. While the Korean legal society tried to legislate punitive compensation with this concern, the U.S. Supreme Court reached an interesting case law regarding consumer contracts. A recent trend on consumer contracts in the United States shows that general terms have arbitration clause with class action waiver. As much as international arbitration has worked as the most effective resolution in international commercial disputes, the concept is still foreign and the experts are not approachable to lay individual consumers. However, class action in arbitration can hugely help for lay individual consumers to bring a case before arbitration tribunal. California courts consistently showed the analysis that the practical impact of prohibiting class action in arbitration clause is to ban lay individual consumers from fighting for their rights. However, the Supreme Court held that the arbitration clause shall be enforced as parties agree even if consumers practically cannot fight for their rights in the end. Even though consumer contracts are a typical example of lack of parity and of adhesive contract, the Supreme Court still applies liberalism that parties are equal in power and free to agree. This case law has a crucial implication since Korean consumers buy goods and services from the U.S. and other countries in everyday life. Accordingly, they are deemed to agree on the dispute resolution clauses, which might violate their constitutional right to bring their cases before the adjudication tribunal. This issue could be more important than adopting punitive compensation because consumers' rights are not necessarily governed by Korean law but by the governing law of the general terms and conditions chosen and written by the multinational companies. Thus this paper studies and analyzes the practical reality of international arbitration and influence of arbitration clause with class action waiver with the U.S. Supreme Court and California case laws.

• 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.

• Korean Journal of Child Studies
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• v.26 no.5
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• pp.59-72
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• 2005

This study used secondary data of the Illinois Subsidized Guardianship Waiver Demonstration, Chicago Public Schools and administrative data of the Illinois Department of Child and Family Services. Multiple regression analysis was the main statistical method. Results revealed a positive effect of foster parents' expectations on educational achievement of foster children without disabilities. Among types of educational involvement, 'direct educational activities' showed a positive effect on math and 'supervision reported by children' showed a positive effect on reading achievement. Among indices of the quality of relationship: the presence of kinship ties, permanence achievement, and level of affection between foster parents and children, only level of affection had a significant positive association with both math and reading achievement.

• Journal of Arbitration Studies
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• v.21 no.3
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• pp.165-187
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• 2011

This paper investigates on the legal doctrine of "voluntary, knowing, and intelligent" (VKI Doctrine). The main points that were discussed include the history of the VKI doctrine and the US courts' attitudes toward the doctrine. It was also discussed how the VKI doctrine influenced the protection of consumer who agreed to arbitrate with businesses. The US courts' attitudes have shown to be split in application of the VKI doctrine to disputes in the enforceability of arbitration agreement between the consumers and the businesses. In order for the arbitration agreement to be invalidated, the state legislature cannot enact law that are directly targeted toward the validity of arbitration agreement. Rather the contract law in each of the state should be applied to the evaluation of the validity of an arbitration agreement. As the more and more consumers become familiar with the arbitration, the need for the VKI doctrine to protect the individual consumers in arbitration is expected to be diminished in future disputes.

• International conference on construction engineering and project management
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• 2017.10a
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• pp.245-251
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• 2017

Integrated Project Delivery (IPD) is a procurement method that has been proved to improve construction project performance. However, in China implementation of IPD practices in construction projects is unknown though some researchers have studied the problems and constraints in adoption IPD. The purpose of this study was to explore IPD adoption in Chinese construction industry. Critical components of IPD implementation were reviewed, and questionnaires were distributed to collect industry views. The results revealed that IPD uptake is still low. In particular, the liability waiver and shared risks and rewards have been rarely used. In addition, co-location, value engineering method and the new compensation approach have also been hardly adopted. Some practices related to early involvement of key parties were adopted. Surprisingly, the findings indicate that the client has been continuously involved in the projects. The findings may imply that the legal issues and problems of contractual frameworks are still constraining IPD implementation in Chinese construction industry.