은행보증의 지급청구에 관한 연구

Demand for Payment under Bank Guarantee

In In contrast to the decrease of the use of commercial letter of credit, the use of demand guarantee and standby letter of credit has increased gradually. However, as applicable laws and rules are not unified despite the introduction of URDG758 and ISP98, bank guarantee practice is still confusing. This paper tries to introduce international guarantee practices concerning demand for payment under bank guarantee. The person entitled to call the guarantee is the one which the guarantee designates as the beneficiary. In the absence of provisions to the contrary, the demand for payment must be lodged with the office which issued the guarantee, and is made in writing. The request for payment must relate to the contract that has been secured by the guarantee. If the guarantee calls for a statement of default by the beneficiary, the submission of such a statement is a condition of payment. A statement of default is also required if the guarantee is subject to the URDG. If the guarantee contains a condition precedent, the beneficiary must demonstrate that the condition has been fulfilled in accordance with its terms, or other means should the relevant condition not mention the documentary evidence. The demand for payment must be made on or before the expiry date.