• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.16
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• pp.35-58
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• 2001

The letter of credit is quintessentially international. In the absence of international legal system, a private system based on banking practices has evolved, commanding the adherence of the international letter of credit community and providing the foundation of th reputation of this instrument. To maintain this international system, it is vital that international standard banking practice should not be subject to local interpretations that misconstrue or distort it. The UCP is a formulation of international standard banking practice. It is neither positive law nor a "contract term" in any traditional sense and its interpretation must be consonant with its character as a living repositary of international understanding in this field. As a result, the interpretation and application of specific articles of the UCP must be consistent with its evolving character and history and with the principles upon which sound letter of credit practice is predicated. This study, especially, focuses on article 13 of the UCP500 and 95UCC 5-108. Both articles introduce a standard of document examination to be used by banks to determine whether they comply facially with the terms of the credit. While, in the UCP, this standard is called international standard banking practices, in the UCC, this standard is called standard practices. I think that both standards are not same. Thus, first, this study look for categories of both standards and scope of application. the second subject is how can issuing bank act in the face of non-documentary condtion under this standard of document examination. Third is correlation between the principle of Strice Compliance and the standard.

• The Korean Society of Law and Medicine
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• v.9 no.1
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• pp.505-534
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• 2008

Aesthetic plastic surgery rarely has the lifesaving, the medical necessity, and the emergency, because it was executed in order to acquire personal satisfaction in the external features. In addition, aesthetic plastic surgery has the strong commerciality in that it is based on the attraction of a client through medical advertisement and the range of uninsurance. These characteristics cause whether aesthetic plastic surgery is included in medical procedure and the legal contract between physician and client is controversial issue. Also, attention and explanation in aesthetic plastic surgery are more emphasized than those in general medical procedure. According, this document presents the various characteristics of aesthetic plastic surgery, which differs from that of general medical procedure.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.14
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• pp.153-176
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• 2000

The U.K. Bills of Lading Act 1855 had sought to circumvent the problems arising from the doctrine of privity of contracts. Among the principal factors in the introduction of the Act was the exceptional decision of the court in the case of Grant Norway. The Act 1855 was intended to reverse Grant Norway, but has no effect whatever. As it was not properly drafted, there had been a lot of situations where the Act 1855 was not applicable. In those cases, the courts have implied a contract between cosignee and carrier. This is the effect of the common law Brandt v. Liverpool doctrine. With the enactment of the Carriage of Goods by Sea Act 1992, all of the problems shall be resolved. It repeals the Act 1855 and replaces it with provisions covering not only B/L but also sea waybills and ship's delivery orders. According to the new law, title to sue is now vested in the lawful holder of a bill of lading, the consignee identified in a sea waybill or the person entitled to delivery under a ship's delivery order, irrespective of whether or not they are owners of the goods covered by the document.

• Journal of Arbitration Studies
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• v.13 no.2
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• pp.489-517
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• 2004

The resolution of the 1993 Uruguay Round and the opening of Korea's construction market in '97 marked the beginning of the globalization of Korea's domestic construction market. Consequently, the process led to changes in contracting procedures, as well as disputes in construction management. With globalization came a rapid realization of reasonable values, which forced the hierarchical vertical relationship between the owners, constructors, and subcontractors into a more equal, horizontal relationship. Once the hierarchical relationship was altered, the late 1990's witnessed a dramatic increase in managerial disagreements, in addition to escalating legal disputes and expenditures. The horizontal relationship was a new concept and brought forth many complexities. Unfortunately, because all of this was new, management of construction disputes was elementary at best. Anticipation of disputes is the key to effective dispute management. This includes thorough reviews of contract documents, document management, construction records, and checklists. Also necessary is the education of owners and contractors with pertinent knowledge concerning dispute management. The following paper focuses on the importance of observing construction disputes in order to facilitate management thereof.

• Journal of the Korean Institute of Navigation
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• v.25 no.3
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• pp.283-296
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• 2001

As a matter of fact, the document which has been developed to resolve the obvious conflicts between the interests of buyer and seller is the bill of lading. The bill of lading provides the seller with some security against default by the buyer and the buyer with some assurance of performance of the seller before the buyer is required to make payment. So to speak, the B/L provides some extent protection for both seller and buyer. This is a study on the construction of Liner Bill of Lading(Code name : CONLINEBILL) adopted by BIMCO(The Baltic and International Maritime Conference) and is using a basic bill of lading in the liner ships operation. In this study, the writer makes a wider and deeper study of rights of rights and obligations of Contract Parties by means of the rules of construction, specially focusing the Carriers liability under Carriage of Goods by Sea Act 1971(COGSA 1971), Hague-Visby Rules and Korea Commercial Law.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.709-713
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• 2005

The conflict problems encountered in the construction projects led to prolonged delays in implementation, interruptions and sometimes suspension. This paper has described ten fundamental management principles to avoid conflicts in construction field and increase the productivity. They are: i) hire good (not cheap) construction professionals ii) set reasonable time and cost goals iii) recognize contractors and designers are in business to make profit iv) draft a clear contract document v) pick a suitable project delivery system vi) implement a front-end approach vii) accept construction project as a dynamic process viii) need of education and training of professionals ix) accountability and teamwork in construction site, and x) avoid negligence.

• International Commerce and Information Review
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• v.16 no.3
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• pp.159-182
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• 2014

CISG Article 71 (1) states that a party may suspend the performance of his obligations if, after the conclusion of the contract, it becomes apparent that the other party will net perform a substantial part of his obligations as a result of a serious deficiency in his ability to perform or in his creditworthiness or his conduct in preparing to perform or in perfoming the contract. CISG Article 71 (2) states a 'right of stoppage in transit' that if the seller has already dispatched the goods before the grounds described in the preceding paragraph become evident, he may prevent the handing over of the goods to the buyer even though the buyer holds a document which entitles him to obtain them. The present paragraph relates only to the rights in the goods as between the buyer and the seller. Under the right of stoppage in transit, the carrier copes with risks that the seller may claim damages arose from the handing over the goods, if he hand over the goods to the buyer and that the buyer may claim damages, if he deny handing over the goods to the buyer who has the document which entitles him to obtain the goods. Therefore the legal position of the carrier may become weak. This paper purpose to point out the legal weakness of the carrier under the right of stoppage in transit and to provide the proper legal act of the carrier and possible practice related to various characters of the contract of sale of the goods. Although there is the opinion it prevent from handing over the goods to the buyer actually under the interpretation that the buyer should take claim damages to the seller, if the goods are handed over to the buyer under the right of stoppage in transit, it is not appropriate because the opinion may disable the right of stoppage in transit. The right of stoppage in transit could be carried out under any payment conditions except letter of credit and under any mode of transportation except the cases that carrier is the buyer himself or the agent of the buyer. It could be executed regardless the forms of the transport document.

• Korean Journal of Construction Engineering and Management
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• v.18 no.3
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• pp.33-41
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• 2017

A modular specification is a contract document that specifies the requirements of production, transformation and installation in a modular construction. A problem of the currently used specification is that it does not guarantee the level of performance required by the modular construction and fails to accommodate unique characteristics of each construction because it widely uses the standard specification as it is. This study proposes a specification that reflects the unique feature of modular construction in order to improve the quality of modular construction. Research focuses on the leakage in waterproof and mechanical equipment because it is the area with the highest rate of defects. This study suggests ways to improve the modular specification as follows: 1)Descriptive specifying (following MasterFormat) 2)Propose leakage verification method and test clause 3) Reflect characteristic of modular construction. Proposed modifications to modular specification are reviewed by experts for validation and their opinion verifies suggested improvements as a way to secure the quality of modular construction and to promise characteristics of the modular specification. This improvement will be used for reference when writing construction project specification, which can be an important contract document, so that it could lower occurrence rate of the modular defects.

• The Journal of the Korea institute of electronic communication sciences
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• v.14 no.1
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• pp.1-10
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• 2019

In terms of realizing the future e-government such as intelligent government, this paper attempts to provide an earnest and insightful reflection and suggests desirable strategies with regard to the four different crucial elements including electronic voting, electronic contract, resident registration/electronic document management, and real-estate registration as an operating strategy of intelligent government and the fourth industrial revolution regarding. The 4th industrial revolution is aimed at concentrating information or data characterized with sharing, opening, communicating and releasing in cloud computing system, analyzing big data, collecting information, and flourishing people's well-being by information and communications technology with utilizing the smart devices. Therefore, reliability of the pivotal information or data is critical and it is important for the participants being transparently shared, without the data or information being forged. In this respect, introduction or application of block chain technology is essential. This paper will review preceding studies, discuss the aspect of the 4th industrial revolution and intelligent government, then suggest operating strategies in the field of electronic voting, electronic contract, management of resident registration and electronic document and real-estate registration.

• Korea Trade Review
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• v.42 no.2
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• pp.205-225
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• 2017

The study attempts to verify the case related to the notice of payment refusal by issuing bank regarding discrepancy in transport document under L/C(Letter of Credit) transaction. Considering the high portion of trade between Korea and China, Korean companies and banks in L/C transaction should be careful about many unpredictable situations. The case of this study is that Chinese seller(beneficiary) initiated a civil suit against Industrial Bank of Korea to Chinese court and Chinese courts in the first and second trials judged that the notice of payment refusal by Industrial bank of Korea doesn't satisfy Article 16, (c) (ii) (iii) in UCP 600. However, Industrial Bank of Korea implements the judgement even though the judgement is highly biased to Chinese seller. Considering the judgement by Chinese courts, the study suggests some countermeasures to Korean companies and banks which opened L/C. First, the issuing bank should describe the contents of discrepancy specifically based on Article 16, (c) in UCP 600. Second, it is necessary to insert a clause regarding governing law in the L/C contract like sales contract. Third, considering the biased judgement by Chinese court and difficulty in execution of foreign judgement in China, it is recommended to using arbitration as a method of dispute resolution such as ICLOCA and DOCDEX Rules which are international system operated by international instruments because it has legal effects to parties in L/C contracts if the issuing bank inserts arbitration clause in L/C.