화환신용장 거래관행 및 문제점에 관한 연구

A Study on the Problems and Practices of Documentary Credit Transaction in Korea

So far, research methodology of documentary credits(DC) is usually summarized three parts in Korea. First is to study of the provisions of L/C, such as UCP, ISBP, URR and ICC's opinion. Second is to analyze various types of court cases such as litigation and arbitration. Third method is to survey of questionnaire from respondents. However, different from aforesaid three model, this study tried to investigate 73 samples of documentary credits which are used in commerical banks. The purpose of this study is to provide some important problems and implications of DC transaction practices in Korea trade companies. The main problems which appear to be presently associated to DC Practices from the overall point of view are related to (1) misuse of third pary documents or B/L (2) issuance "consigned to applicant" B/L form (3) levy an extensive discrepancy fee (4) excessive coverage (5) abuse of percentage credit amount tolerance and (6) other post expiration charges & delay penalty. In the operation of DC, we have to take into account these problems and implications.