신용장거래에서 거절통지의 형식적 요건에 관한 연구

An Analysis on the Formality of refusal ill Documentary Letter of Credit

The significant changes to the refusal procedure introduced by art.16 of UCP 600 may have a considerable impact on the substantive entitlements of bankers. Compliance with the new formalities of a "single notice" comprising a "statement of refusal" leads little scope for implication in the interpretation of communications issued by bankers pursuant to art. 16. The increased formality is likely to result in unequivocal notices of refusal being rendered defective as against the refusing banks without them having any scope to supplement a defective notice by subsequent communications. The absence of any settled international practice in regard to the time allowed to return documents will continue to create uncertainty. Perhaps this is an area that might usefully be the subject of some definitive guidance in the future to promote certainty and fairness, particularly since the times for examining documents, giving a refusal notice and returning documents.