UCP 600에서의 신용장 매입상의 문제점과 해결방안

Problems and Solutions of Negotiation in L/C Transaction under UCP 600

So far, the documentary letter of credit has been a popular choice for importer and exporter. It is particularly attractive when traders are conducting business across great distances in relation to highly valuable cargoes. In regard to these cargoes, they either need to know each other well enough to trust one another or they need to put some sort of payment mechanism in place which will offer certain safeguards to protect each of them. The letter of credit offers considerable advantages in these respects. By using the word “purchase”, it is evident that the definition is concerned with payment where money will change hands. This is an improvement upon the old Art. 10(a)(ii) of the UCP 500 which, in defining the concept of negotiation, referred to “giving of value.” UCP 600, Art. 12(b) regulates “By nominating a bank to accept a draft or incur a deferred payment undertaking, an issuing bank authorizes that nominated bank to prepay or purchase a draft accepted or a deferred payment undertaking incurred by that nominated bank.” Therefore, the purpose of this paper is to prevent the disputes between trading partners by finding the problems and solutions of negotiation regulations under UCP 600.