국제전자결제시스템에서 수신은행당사자의 역할에 관한 연구

A Study on the Function of Receiving Bank Parties Concerned in the Global Electronic Payment System

  Under Uniform Commercial Code Article 4A which is ruling wholesale funds transfer in the United States. Electronic funds transfer begins with the issue of a payment order by the originator to the receiving bank. Accordingly receiving bank plays a important role to complete the funds transfer. This paper studies a few issues on role of receiving bank. Firstly, the receiving bank should have a duty on executing of payment orders, fund paying, money-back guarantee, and a notice of rejection of a payment order. Secondly, the receiving bank should be liable for the breach of performance, misdescription of beneficiary, cancellation of payment order, execution delay, and information outflow relating to acception. Thirdly, receiving bank has exemption from unauthorized payment order, force majeure, and money-back guarantee. Accordingly, This paper suggest that the receiving bank should verify executing of payment orders in compliance with the originator"s payment order and has to establish a security procedure.