• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.77
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• pp.113-144
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• 2018

This study explores how to prevent the fraudulent export financing and its subsequent export insurance fraud in relation to O/A negotiation. Under the traditional letter of credit(L/C) transactions, the banks, as a negotiation bank, can extend trade financing to the exporters through negotiation of draft and/or shipping documents. Under the O/A transaction scheme, however, bank cannot ascertain existence of trade performance and it is much riskier to extend an advance financing to the exporters before the buyer sends confirmation of debt. In O/A negotiation. some exporters tried to fraud banks by falsifying the shipping documents and the size and gravity of this fraudulent export financing were huge. Therefore, this study examines the banking process in O/A-based trade financing, documents examination process, the negotiation of instruments, treatment of trade financing in export credit guarantee, most importantly, explores what could be the criteria for appropriate treatment of account receivable to insure the safe transfer of account receivable. To maximize the benefit for optimum trade financing, the Bank of Korea established several Trade Finance Rules (refers to "BOK Rules") requiring that commercial banks should maintain optimal credit limits(so called, 'the principle of optimal loan') to extend the trade finance. The K-sure post-shipment credit guarantee programs and short-term export insurance program(EFF)can also facilitate 'the principle of optimal loan' principle.

• Proceedings of the KIEE Conference
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• 2006.07b
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• pp.765-766
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• 2006

Interior Permanent Magnet Synchronous Motor(IPMSM) have many advantages such as high power density, wide speed range and so on. With the IPMSM, miniaturization and energy efficient design can be achieved in comparison with Surface Permanent Magnet Synchronous Motor(SPMSM). In order to secure miniaturization and manufacturing efficiency of the motor, it has concentrated winding, because concentrated winding can reduce the motor volume and make manufacturing to be simple compared with the distributed winding. However, according to the pole-slot combinations motor parameters can be changed and unexpected normal force can be generated. Especially, unbalanced normal force in airgap can cause serious vibration and acoustic problem. Accordingly, in this paper, normal force and parameters variation of concentrated winding IPMSM are investigated according to the pole-slot combinations.