신용장 조건의 불명확성에 따른 대금지급거절 사례연구

Case Studies on the refuse payment with ambiguity of terms of credit

In letter of credit operation, banks deal with documents, and not with goods, services and/or other performance to which documents may relate. Thus documentation has important in L/C processing and operations. The applicant shall have to submit an L/C application form, and these forms are to be filled up by the applicant. This application form is very important. When the directions to documents of letter of credit are ambiguous, a beneficiary may be denied payment for reasons of the discrepancy by the principle of strict compliance. Hence, this article analyz.es the legal bases and cases for the problems of ambiguity direction for issuance of letter of credit and investigate the implications for practice field of letter of credit transaction.