초록 열기/닫기 버튼
Road, rail or inland waterway transport documents used in letter of credit transactions can not be used in countries where land border or inland waterways are not adjacent, such as in Korea. These transport documents are, however, highly likely to be used in countries with adjacent land borders or inland waterways. If such documents are presented to the Bank in a letter of credit transaction, they shall be examined for compliance with the terms and conditions of the credit, the applicable provisions of UCP 600 and International Standard Banking Practice for the Examination of Documents under documentary credits (hereinafter referred to as ʻʻISBP 745ʼʼ). The ISBP 745 that was revised by the ICC Banking Commission in 2013 prescribes the examination criteria of road, rail or inland waterway transport documents along with shipping documents. These transport documents stated in the ISBP 745 must be presented to the nominating bank or issuing bank by the beneficiary. The practitioners related to the letter of credit transaction such as bankers, applicants and beneficiaries need to know well the provisions of ISBP 745 as well as UCP 600. Otherwise, this can cause disputes in letters of credit between practitioners around the world. Therefore, the purpose of this paper is to reduce the disputes occurring in credit transactions by analyzing the examination criteria of road, rail or inland waterway transport documents provided in ISBP 745.
