초록 열기/닫기 버튼
Bank’s Guarantee System being used as useful means and surety devices for various overseas business activities. In many cases Korean companies are required to use the bank guarantee system for expanding their overseas business activities. However, some businesses have much difficulty in the process of demand for payment and its performance under the bank guarantee transaction. Therefore, it is very important to understand the bank guarantee system clearly and comprehensively. The purpose of this article is to analyze the issues and problems in the procedure of bank guarantee transaction and suggest the improving plan and practical notes. For this purpose, First, this study will be looked into the relative regulations and present situations for bank guarantee programs both domestic and overseas. Second, this study will be examined the practical procedures and discusses some legal issues focusing on the revision URDG 758 and International Standby Practices(ISP98). In dealing with the legal and operational issues, the study is focused on the discussion of improper demand and improper payment, fraudulent claims, illegal dealings, and the compliance standard for payment. It will also be reviewed and compared with the URDG, ISP98, UCP 600 and so on under international guarantees. This study will be based on documentary research and case law where the long established legal principles from relevant cases will be examined.
