earticle

영어

The beneficiary of a demand guarantee is entitled to make a complying demand for payment within the period of validity of the guarantee which is issued by a bank, a guarantor-bank, in favor of him/her. During the same period, the guarantor-bank bears a contingent liability for which they have to reserve funds, and the instructing party to the guarantee, the account party, is exposed to a financial risk and has to pay bank charges, his/her credit facilities being tied up as a security for reimbursement to the guarantor-bank. Under these contexts, this article examines, under the URDG 758, two practical issues in international transactions: the commencement and the termination of demand guarantees. The first section examines the commencement of guarantees and covers the effect of a commencement event which is usually stated in guarantees. The second section examines the termination of guarantees by their expiry which includes the issues of expiry date and expiry event, followed by the third section that covers the extension of guarantees by an extension clause in guarantees, ‘extend or pay’ requests by beneficiaries and the occurrence of force majeure events. Finally, this article examines some alternative ways of terminating guarantees before its conclusion.

한국어

본고는 URDG 758을 기초로 청구보증의 개시와 종료의 문제를 논의한다. 먼저 청구보증의 유효기간이 언제 개시하는지의 문제를 고찰하고, 다음으로 청구보증이 언제 종료하는지에 관하여 만료일과 만료사건에 의한 종료를 살펴본 후, 보증상 연장조항이나 ‘연장 또는 지급의 선택부지급청구’, 불가항력에 의한 청구보증 유효기간의 연장의 문제를 아울러 고찰한다. 이어 끝으로 보증금액의 소진과 채무면제서의 교부에 의한 보증의 종료를 고찰하고서 글을 마무리한다.