신용장거래와 해상보험서류의 관계에 관한 연구

A Study on the Relation of the L/C Transaction and Marine Insurance Document

In most cases, the trade being one in which the buyer is experienced, the buyer will have no difficulty in specifying the cover that he requires. In other cases it is important that he should give appropriate consideration and seek advice as necessary. The terms to be used in specifying terms of insurance cover can be highly technical. In such cases the requirement should be stated in the L/C with precision but without undue complexity. Article 28 of the UCP 600 provides that the insurance document must indicate the amount of the insurance coverage. Absent any indication of the required coverage, there must be coverage for at least 110% of the CIF value of the goods. If the CIF value of the Incoterms 2010 rules cannot be determined from the documents, there must be cover for 110% of the invoice value or the amount demanded under the L/C, whichever is the greater. The purpose of this study aims to analyse the relation of the L/C transaction and marine insurance document in the international trade contract with UCP 600 and Incoterms 2010 rules.