Lately, the electronic trade transaction has been getting prominent by developing internet trade. In the Letters of Credit transactions, the issuing, advising and amending of Letters of Credit has been performed by EDI system. Further, the settlement of Letters of Credit is completed by SWIFT system. Now, the surrounding circumstances of International Trade made it birth that all documents would be made by the electronic documents including Bolero Bills of Lading as well as Letters of Credit.. Therefore, in the field of electronic trade for the Letters of Credit, the necessity of new rules supplementing for UCP 500 should have been required. For this, I.C.C Banking Technical Committee decided to make task force team to formulate new rule of electronic trade on the behalf of UCP 500. They made a new rule, e-UCP, and supplemented UCP500 since April 1, 2002. In this study, I tried to explain each paragraph of eUCP and investigate the problems in applying these rules to actual field. I also present appropriate methods for solving these problems. First, I explained the distinctive characteristics of eUCP and the relationships with UCP 500. Second, I also described the effects that can apply the eUCP in the practical field. Finally, the method of this study is to refer the articles and books concerning theses topics and the relating sections of eUCP and UCP 500. I hope this study would be helpful to the scholars in academy and the practitioners in business world.

Lately, the electronic trade transaction has been getting prominent by developing internet trade. In the Letters of Credit transactions, the issuing, advising and amending of Letters of Credit has been performed by EDI system. Further, the settlement of Letters of Credit is completed by SWIFT system. Now, the surrounding circumstances of International Trade made it birth that all documents would be made by the electronic documents including Bolero Bills of Lading as well as Letters of Credit.. Therefore, in the field of electronic trade for the Letters of Credit, the necessity of new rules supplementing for UCP 500 should have been required. For this, I.C.C Banking Technical Committee decided to make task force team to formulate new rule of electronic trade on the behalf of UCP 500. They made a new rule, e-UCP, and supplemented UCP500 since April 1, 2002. In this study, I tried to explain each paragraph of eUCP and investigate the problems in applying these rules to actual field. I also present appropriate methods for solving these problems. First, I explained the distinctive characteristics of eUCP and the relationships with UCP 500. Second, I also described the effects that can apply the eUCP in the practical field. Finally, the method of this study is to refer the articles and books concerning theses topics and the relating sections of eUCP and UCP 500. I hope this study would be helpful to the scholars in academy and the practitioners in business world.

EDI, SWIFT, Bolero B/L, UCP 500, eUCP, ISBP ICC Banking Technical Committee