EXPERTISE
BLP provides the best legal services
for domestic and international affairs by the best legal professionals.
EXPERTISE Trade Finance & International Transactions
Trade Finance & International Transactions
BLP has an outstanding practice in the field of trade finance. BLP works closely with companies involved in international trade transactions and banks involved in financial settlements.
Mr. Chae, Managing Partner of BLP, has worked for over a decade as a member of the ICC Banking Commission, a Korean member of ICC CLP (Commercial Law & Practice) Commission, a member of the UCP 600 Working Group, Korea’s only member of the ICC Banking Commission DOCDEX, and a chair of Incoterms 2020 Korea Working Group. Mr. Chae also has experience as a judge in the Trial Division of the Seoul High Court that specializes in international business transactions and as a Research Judge in the division within the special division of the Supreme Court of Korea that specializes in Commercial matters. Additionally, Managing Partner Dong Heon Chae has published various papers and books, including “International Business Transactions and Law,” taught Trade Finance Practices at the Judicial Research and Training Institute for many years in the past, and practiced in the area of trade finance (both advisory work and dispute resolution & litigation) at one of Korea’s biggest law firms for more than a decade prior to founding BLP.
We advise on a wide range of corporate matters in this field, including:
- Disputes related to legal issues that arise in connection with financial settlements and foreign exchange
- Disputes related to settlement of funds under international trade finance regulations, including the 6th Amendment of the Uniform Customs and Practice for Documentary Credits (UCP 600) and ISBP
- International guarantees, such as bank guarantees and demand guarantees related to international construction and international large-scale project transactions
- Application of specialized rules to bank guarantees and Standby LC, such as URDG 758, ISP 98, and UCC Article 5
- Various contract conditions, such as Incoterms 2020, in connection with international trade transactions
- Application of other rules and regulation concerning bank settlements, such as URR and URF