• 무역상무연구
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• 제41권
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• pp.25-50
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• 2009

In this article, I have reviewed the definition of international mercantile customs, their preferential application, the developing status of the credit practice, the effectiveness and relationship of the international standard banking practices, e.g. UCP 600 and ISBP 2007, ISP98, URR 725, eUCP 1.1. and the like, established by the International Chamber of Commerce (ICC). It is important to emphasize that the autonomous agreements between the credit parties and the international practice on the credit transaction are respected above all because of the special nature of its transaction. When we want to apply to a letter of credit by the international rules - UCP 600, ISP98, URDG, URR 725 and eUCP 1.1, we must indicate expressly in the text of the credit that it is subject to the respective rule. But the International Standard Banking Practice, 2007 revised by the ICC is applicable to without its indication in case of the UCP 600 credit. On the other hand, the UN Convention on Guarantees and Standby Credits applies to an international undertaking referred to in its article 2, (a) if the guarantor/issuer is in a Contracting State, or (b) if the rules of private international law lead to the application of the law of a Contracting State, unless the undertaking excludes the application of the Convention. And this Convention applies also to an international credit not falling within its article 2, if it expressly states that it is subject to this Convention.

• 한국중재학회지:중재연구
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• 제26권4호
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• pp.43-62
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• 2016

The international arbitration system has been a useful method of settling disputes arising from international transactions. Arbitration provides the opportunity for the parties to choose a fair and neutral forum and to participate in the selection of the decision maker and the rules that will be applied. Because arbitration is a creature of contract, there is no agreement to arbitrate if there is no contract. An arbitration clause should be designed to fit the circumstances of the transaction and the parties' needs. The parties draft an arbitration clause with insufficient attention to the transaction to which it relates. Insufficient attention to arbitration agreement has caused the delay of arbitration procedure or even the inability to arbitrate. Therefore the parties pay sufficient attention to the underlying transaction so that the arbitration clause can be tailored to their particular requirements and to possible disputes that may reasonably be anticipated.

• 통상정보연구
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• 제7권3호
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• pp.97-111
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• 2005

This paper object is application of electronic Customers Relationship Management(e-CRM) for buyer This paper focuses on the possibility of the adaption of Escrow system in Local L/C opening and payment. The purposes of this study are to obtain efficiency and stability of Local L/C and to provide opportunity to accept trust of the transaction parties. The results of the study show that Escrow system is recommended when Local L/C opened, because Escrow system has the following merits: (1) Open system of internet can be used to Local L/C process. (2) Transaction process of Escrow system is very simple. (3) One stop transaction can be applied to all the process of local L/C.

• International Journal of Computer Science & Network Security
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• 제21권6호
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• pp.200-206
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• 2021

Fraud in e-commerce transaction increased in the last decade especially with the increasing number of online stores and the lockdown that forced more people to pay for services and groceries online using their credit card. Several machine learning methods were proposed to detect fraudulent transaction. Neural networks showed promising results, but it has some few drawbacks that can be overcome using optimization methods. There are two categories of learning optimization methods, first-order methods which utilizes gradient information to construct the next training iteration whereas, and second-order methods which derivatives use Hessian to calculate the iteration based on the optimization trajectory. There also some training refinements procedures that aims to potentially enhance the original accuracy while possibly reduce the model size. This paper investigate the performance of several NN models in detecting fraud in e-commerce transaction. The backpropagation model which is classified as first learning algorithm achieved the best accuracy 96% among all the models.

• Journal of Korea Trade
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• 제24권7호
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• pp.73-92
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• 2020

Purpose - The letter of credit has been playing a major role to diminish overall risks which exist among concerned parties even though there are differences such as language, culture, law, and distance. This paper reviews essence of the letter of credit and its transaction principles, as well as overall practical questions based on the L/C transaction principle. It also investigates the risk of fraud occurrences in L/C transactions and the importance of fraud prevention and preventive measures in international L/C transactions, including the Fraud Rule, which is a major topic to consider in business transactions. Design/methodology - It is considered that an importing country's concerned parties and an exporting country's concerned parties face different situations. This study employs the existing framework to identify liability, responsibility, and obligation for all concerned parties across countries. Using a quite direct measurement of principles in the letter of credit, such as principle of independence, principle of abstraction, and principle of strictness and coincidence, we studied these differences. Findings - Our main findings can be summarized as follow. The paper enhances the efficiency of the L/C payment method to provide fraud generated from L/C transactions, presentation of a theoretical framework about fraud and fraud prevention, which international trading companies should acknowledge in a material way based on fraud risk resulting from taking advantage of L/C transaction principles. Originality/value - Existing studies focus on fraud accidents in L/C transactions by taking bad advantage of the characteristics of the letter of credit without suggesting risks of fraud. This paper attempts to evaluate and provide preventive measures as a solution for fraud and risky international business in a letter of credit transaction. This area of trade studies is underexplored, both empirically and theoretically, although the issue has long been important to Korean and world community foreign trade.

• 무역학회지
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• 제46권2호
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• pp.93-106
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• 2021

This study analyzes trade communication methods by comparing and analyzing payment methods and procedures of L/C and BPO transactions. As a result of the study, BPO transaction is validated based on the combination results of the confirmed baseline and data set unlike the L/C transaction. Therefore, BPO is superior to L/C transaction in that there is no confrontation between the parties over the matching results. And it can proceed with certain transaction that is paid first and proved later. In addition, the process of accepting data mismatches results in a confirmation of the payment commitment considering the intention of the importer. This allows flexible disposition of documents in response to the post payment situation as long as the documents are held by the exporter, which can be said to be superior to the L/C transaction.

• 통상정보연구
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• 제5권1호
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• pp.39-59
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• 2003

The purpose of this paper is to examine the possibility of whether B2B e-marketplaces continue to grow. There are numerous barriers to the growth of e-marketplace, but certain key factors can push e-marketplaces beyond these obstacles. In the stage of generating traffic, it is essential to find a vertical area to attract buyers and sellers which can generate B2B transaction through e-marketplace. Generating traffic is possible only for e-marketplaces established by those who have vertical knowledges and strong off-line relationship in the vertical areas. In the stage of concentrating traffic, more attention should be given to reach critical mass and to increase transaction through e-marketplace. Currently, there seems to be a tendency that having major buyers as members of a e-marketplace is an true factor for the successful e-marketplace. Finally, to attain the locking traffic, e-marketplace needs to have the ability to generate revenue through B2B transaction. What we have learn from this study is that having the software-technology is not a sufficient condition to successfully operate B2B e-marketplace. It is important for e-marketplace to attract major players in order to increase B2B transaction, and also to make profit by them.

• 디지털산업정보학회논문지
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• 제5권2호
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• pp.199-208
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• 2009

Mosts of export/import cargo has been moving using maritime transport means. Korea had been driven the system automation project using EDI document since the mid-1990s. However, this automation system comes upon about 40-50% against overall maritime business process, manual or paper document processing work is existing as ever. International e-business environment also has changing into electronic form document transaction from paper document-based transaction. International standardization organization, UN/CEFACT proposed UNeDocs for paperless jtransaction. UNeDocs is a specification to define XML data model as well as electronic form. With UNeDocs, it is not necessary to generate the duplexed data, and it can support user convenient and guarantee the flexibility. This paper defines the UNeDocs data model for EDI and Off-Line processing at the current maritime business. Then, it have to check XML syntax and structure for the defined data model through quality of document check system. Also, it explains the applying plan about the defined UNeDocs data model. It is possible to support paperless transaction as defining UNeDocs-based standard data model and converting into paper document, XML and EDI document using UNeDocs data model.

• 무역상무연구
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• 제20권
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• pp.495-522
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• 2003

As a rapid development of electronic commerce transactions in these days, the security and private protection problems became more important matters under the electronic transaction base. Because electronic transaction using electronic documents be carried without direct person to person meeting, there can be the possibility to use other's identity illegally without notice, and very hard to verify authenticity of transaction as well. In addition, it is very hard to find out that the electronic documents on the process of submitting is forged documents or not, and also have much difficulty in maintaining transmitting secret. Therefore, to solve such problems on electronic commerce transactions and electronic documents, the digital signature and certification system with cryptography skill is inevitably necessary. As the wide use of digital signature together with beginning of digital government and financial transaction, not only the issuance of electronic certification, but certification market came to gradually expand. In Korea, after enacting digital signature act in 1999, the act contents were expanded to the wide range of contents complying with global standards from the end of 2001 to April, 2002, including the new clause of certification problems. And the act was put into operation now. Therefore, in this paper, we'd like to suggest development scheme through the investigation on electronic certification related problems, such as, concepts, procedures, service conditions here and abroad.

• 한국중재학회지:중재연구
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• 제12권2호
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• pp.221-262
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• 2003

In recent years, information technological revolution of using Internet in the Stock Market has shown reconsideration of Securities and Exchange Law. Since the 1998 Taipei Conference, ILA have studied upon it and presented 6th Interim Report during the 2000 London Conference. This paper summarizes a part of the 6th Interim Report. The Internet has created a medium to which traditional principles of jurisdiction may not have full relevance. To understand the jurisdictional issues posed by this new medium, we should first review the traditional principles of jurisdiction under international, U. S. law and Other Countries law. In previous reports, the general principles of jurisdiction in international law have been described. These principles are, however, difficult to apply in the context of Internet and other forms of computerized securities trading. Regulators all over the world are trying to address and solve jurisdictional issues raised by the Internet. The traditional rules of jurisdiction in international law, grounded as they are on a geography-based approach, may be in the process of being undermined by the Internet and other global networks allowing for remote access to information and to markets.