A Study on Effective Trade Claims Solutions through Commercial Arbitration System

Rack-In Choi

Journal of The Korea Society of Computer and Information

Abbr : JKSCI
2017, 22(1), pp.99-106
Publisher : The Korean Society Of Computer And Information
Research Area : Computer Science

Rack-In Choi ¹

¹성결대학교

ABSTRACT

In this paper, the first to identify in detail the direct and indirect causes of trade claims and to provide a way to prevent the causes and measures specific claims. Trade claims is not the best way to prevent in advance, measures to prevent future trade claims is as follows. First, it should be the credit investigation of the counterparts. Second, the contract must determine the rights and obligations of each other through sufficient consultation with contract and faithfully perform its contractual obligations. Third, the explicit trade arbitration clause of arbitration in the contract, and shall be a sufficient review of the procedure such as import and export, international business practices, norms and partners of economic policy, foreign exchange regulations, the trade system transactions. Finally, for it is to be treated as a one-stop strengthening the organization and function, and the Ministry of Commerce and Trade Association, and KOTRA and Trade Insurance Corporation strategic support systems, such as done by covering the work on trade claims prevention and resolution in the Korean Commercial Arbitration Board.
KEYWORDS

Trade Claims, Credit Investigation, Counterparts, Contractual Obligation, Prevention
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KCI Citation (1)

KJC Korea
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