貿易과 信用狀 = Trade and Letter of Credit

다국어 초록 (Multilingual Abstract)

The Letter of Credit(Commercial Documentary Letter of Credit; Documentary Letter of Credit) is a subject-matter which is so intricate and incomprehensive that it requires a specially thorough study, and this essay will merely touch upon the economic significance of Commercial Letter of Credit and legal relationship existing between banks or between the applicants for the credit and the issuing bank means of the "Uniform Customs and Practice for Documentary Credits" (International Chamber of Commerce Documents No 470/111, November, 1962) and the customs and usages of all nations.
The greater portion of modern export business is made possible only through the adequate cooperation of the banks by means of commercial letters of credit which the bank in the importing contries establishes in favor of the instance and for account of the buyer. The letter of credit used therein means any arrangement, however named or described, whereby a bank(the issuing bank), acting at the request and in accordance with the instructions of a customer (the applicant for the credit) to make payment to or to the order of a third party (the benificiary) or is to pay, accept to negotiate bills of exchange (drafts) drawn by the benificiary, or authorizes such payments to be made or such drafts to be paid, accepted or negotiated by another bank, against stipulated documents and in compliance with stipulated terms and conditions.
Credits, by their nature, are separate transactions from the sales or other contracts on which they may be based and banks are in no way concerned with or bound by such contracts.
The general purport of letters of credit, of which there are many different types, is to confer authority on the benificiary either to obtain cash from, or draw on, the issuing bank or an appointed third party, upon a number of terms and conditions which are duly set forth in the credit. Below are mentioned briefly some of the more important types of credits usually employed in export and import transactions of all nations.
A Revocable Credit does not constitute a legally binding undertaking between the bank or banks concerned and the benificiary because such a credit may be modified or canceled at any moment without notice to the benificiary. An Irrevocable Credit is a definite undertaking on the part of an issuing bank and constitutes the engagement of that bank to the benificiary or, as the case may be, to the benificiary and bonafide holders of drafts drawn and or documents presented thereunder, that the provisions for payment, acceptance or negotiation contained in the credit will be duly. fulfilled, provided that all the terms and conditions of the credit are complied with.
A Confirmed Letter of Credit is one that the correspondent bank located in the country of the exporter has confirmed to the exporter; the bank therefore cannot revoke it under circumstance, so long as the exporter lives up to the conditions stipulated in the application for the letter of credit. Payment on Recipt Credit is also one of the special types os credits. Under this credit, the exporter need not draw bills, but receives the proceeds for his hipments from the bank at his end in exchange for the shipping documents and the receipts for the proceeds. The credit which allows the benificiary to draw bills with no documents attached is called the Clean Credit. The Revolving Letter of Credit automatically renews the stipulated amount available to the benificiary during the period specified. This essay attempts to touch upon the economic significance of General Credit, Special Credit, With Recourse Credit, Without Recourse Credit, Sight Credit, Usance Credit, Cash Credit, Transferable Credit, Local Credit, Back toBack Credit, Escrow Credit, Packing Credit and Stand-by Credit in addition to the above-mentioned credits.

목차 (Table of Contents)

• 1. 序 論
• 2. 信用狀의 經濟的 意義와 問題點
• 3. 信用狀當事者間의 法律問題
• 4. 結 論