Compliance Rules in Documentary Credit Transactions

• 영문명: Compliance Rules in Documentary Credit Transactions
• 발행기관: 한국무역연구원
• 저자명: Sun-Ok Kim
• 간행물 정보: 『무역연구』제11권 제5호, 1~13쪽, 전체 13쪽
• 주제분류: 경제경영 > 무역학
• 파일형태: PDF
• 발행일자: 2015.11.30

영문 초록

The purpose of this paper is to review compliance rules in transactions involving documentary letters of credit. The principle of strict compliance used in most banks (as a tool to determine whether or not discrepant factors exist) has shown a tendency to take a pragmatic approach considering the functions of the commercial credit and the essential features of the compliance rules in letters of credit, as well as the necessary guidance that ISBP 745 gives to identify these matters. Understanding the criteria in checking the documents presented may reduce refusal rates of those documents on presentation.

목차

I. Introduction

II. Cases of Unclear Instructions and Discrepancy in Documentary Credit

III. Fraud in the Application of Compliance Rules

IV. Permissible Error and/or Trivial Discrepancy

V. Conclusion

키워드

Discrepancy ISBP 745 Strict Compliance Unclear Instruction