독립보증 및 보증신용장에 관한 유엔협약상의 준거법과 사기규정에 관한 연구

A Study on Governing law and Fraud of the United Nations Convention on Independent Guarantees and Standby Letters of Credit

&nbsp;&nbsp;Since the end of World War Ⅱ, Independent Guarantees and Standby Letters of Credit have been used a surety device, serving as a performance bond and guarantee in the world. On the other hand, the increase in the use of Letters of Credit has caused fraud of credit.<BR>&nbsp;&nbsp;The UN Convention became valid on January 2000. The UN Convention consists of four important things - internationality, independence, undue demand, governing law. And UN has mentioned provisions related to fraud, that is, Article 19. Exception to payment obligation, Article 20. Provisional court measures.<BR>&nbsp;&nbsp;First of all, this paper compares differences between Independent Guarantees and Standby Letters of Credit. And then, it is going to consider Governing law, fraud provisions and details on the UN Convention, effective since 2000.