보증신용장과 화환신용장에 있어 발행은행의 지불거절의 항변에 관한 연구

Purpose This paper analyzes the defence for the payment refusal of issuing bank in the standby letter of credit and documentary credit with Germany’s viewpoint. Design/Methodology/Approach In this study, to analyze the defense of the issuing bank’s refusal of payment, it is analyzed through the literature research method, and in this regard, domestic and foreign literature and internet data are used. Findings In particular, since the bank sales counter handles standby letters of credit or independent guarantees used for non-trade transactions at the same time, it is necessary to clearly understand the difference between URDG758 and ISP98 used here. Furthermore, the applicant applying for the issuance of an independent guarantee or Standby letter of credit should select which rule to apply as the applicable rule in consideration of the necessity and structure of their transaction in the guarantee requested by the applicant. Research Implications As issuing bank’s obligation to pay is positioned as an alternative payment system such as trading contracts and subcontracts of the other party, its implementation must be suitable for the definition of substantive law from the viewpoint of the trading law, the subcontract law, etc. To this end, while acknowledging that there are cases in which the abstraction and independence of payment obligations have to be sacrificed to some extent, it is necessary to continuously verify the jurisdiction to the extent that can be endured