신용장 양도은행의 법적 지위에 관한 연구

A Study on Legal Status of the Transferring Bank under UCP600

Even where a letter of credit is expressed to be transferable, it does not follow that the first beneficiary is entitled to require that the credit be transferred. Banks do not regard themselves as being obligated to effect a transfer. UCP 600 stipulates that even the issuing bank or the confirming bank is under no obligation to transfer a credit except to the extent and in the manner expressly consented to by that bank. However, U.C.C does not permit the issuing bank or the confirming bank to arbitrarily refuse a request to transfer. The Chinese court ruled that where a transferring bank effects a transfer but omits a required documents, it faces liability if the omission causes failure to present a document that is the basis for the issuing bank to refuse the presentation. Therefore, the transferring bank should be careful not to advise the original credit otherwise. The transferring bank should also check whether the second beneficiary who is abroad is the party subject to sanction or not.