A Study on Problems and Implication of Obligations and Responsibilities in Electronic Funds Transfer -Focused on the UCC and the UNCITRAL Model Law-

전자자금이체상의 당사자의 권리와 의무상의 문제점 및 시사점 -UCC와 UNCITRAL Model Law 중심으로-

This article discusses the critical issues on obligations and responsibilities in electronic funds transfer(EFT) between Article 4A of the UCC and the Model Law on International Credit Transfers of UNCITRAL. The electronic fund transfers begin with the issue of the payment order by the originator to the receiving bank for the beneficiary. All obligations and responsibilities of parties concerned occur when the receiving bank accept the originator's payment order to executes. So far, some the most compelling studies have focused on the legal obligations and responsibilities of electronic fund transfer in Korea. Therefore, In this paper, we would like to examine some problems of obligations and responsibilities in electronic fund transfer from Article 4A of UCC and the Model Law on International Credit Transfers of UNCITRAL. And also we present some Implications to reform EFT Law for the efficient application.