초록 열기/닫기 버튼
The International Standard Banking Practice for the Examination of Documents under documentary credits (hereinafter referred to as “ISBP 745”) was revised by the ICC (International Chamber of Commerce) Banking Commission on April 17, 2013. This new revised version of ISBP called ISBP 745 presents a lot of guidelines involving draft and shipping documents including insurance documents. These shipping documents stated in the ISBP 745, especially insurance documents, are documents necessary for presentation to the issuing bank when the beneficiary (called the seller) makes a contract for the sale of goods with the applicant (called the buyer) on CIF or CIP basis. It is anticipated that this new version would most likely cause disputes due to discrepancies of the documents with the terms and conditions of the credit if the practitioners such as bankers, buyers and sellers related to the letter of credit transaction do not know the provisions of UCP 600 and ISBP 745. Therefore, the purpose of this paper is to reduce the disputes occurred in the credit transaction by providing a proposal establishing the examination criteria of insurance documents provided in ISBP 745.
