권영준, 『담보거래에 관한 UNCITRAL 모델법』의 주요 내용과 시사점, 2017.05, 비교사법
An Overview on the UNCITRAL Model Law on Secured Transactions and its Implication
Kwon, Youngjoon
On July 1. 2016, The United Nations Commission on International Trade Law (‘UNCITRAL) officially adopted UNCITRAL Model Law on Secured Transactions. UNCITRAL Working Group Ⅵ began its work toward establishing modern international instrument in the field of secured transaction since 2002. Along with several texts including UNCITRAL Legislative Guide on Secured Transactions that were adopted in 2007, the Model Law is the comprehensive and final instrument that embraces past products in pursuit of harmonizing law in the realm of secured transaction. The Model Law is composed of 107 Articles on various types of movable asset including receivables, negotiable instruments, non-intermediated securities and intellectual property. The Model Law deals not only with substantive legal issues such as creation and effectuation of security right but also with procedural legal issues such as enforcement of security right, as well as issues regarding conflict of laws and transition. As the Legislative Guide was one of the significant source of reference in the making of current secured transaction regime in Korea, the Model Law presents another momentum to evaluate the current state of the secured transaction regime and to find room for its improvement. Against this backdrop, this article introduces the background and the main content of the Model Law, draws implication on Korean security right regime, and adds some more thoughts and comments on raising the possibility of Korea’s contribution to future discussion on international instruments.
Key Words : UNCITRAL, Secured Transactions, Model Law, Security Right on Movable Assets, International Instrument, Notice-based Registration
권영준, 『담보거래에 관한 UNCITRAL 모델법』의 주요 내용과 시사점, 2017.05, 비교사법
An Overview on the UNCITRAL Model Law on Secured Transactions and its Implication
Kwon, Youngjoon
On July 1. 2016, The United Nations Commission on International Trade Law (‘UNCITRAL) officially adopted UNCITRAL Model Law on Secured Transactions. UNCITRAL Working Group Ⅵ began its work toward establishing modern international instrument in the field of secured transaction since 2002. Along with several texts including UNCITRAL Legislative Guide on Secured Transactions that were adopted in 2007, the Model Law is the comprehensive and final instrument that embraces past products in pursuit of harmonizing law in the realm of secured transaction. The Model Law is composed of 107 Articles on various types of movable asset including receivables, negotiable instruments, non-intermediated securities and intellectual property. The Model Law deals not only with substantive legal issues such as creation and effectuation of security right but also with procedural legal issues such as enforcement of security right, as well as issues regarding conflict of laws and transition. As the Legislative Guide was one of the significant source of reference in the making of current secured transaction regime in Korea, the Model Law presents another momentum to evaluate the current state of the secured transaction regime and to find room for its improvement. Against this backdrop, this article introduces the background and the main content of the Model Law, draws implication on Korean security right regime, and adds some more thoughts and comments on raising the possibility of Korea’s contribution to future discussion on international instruments.
Key Words : UNCITRAL, Secured Transactions, Model Law, Security Right on Movable Assets, International Instrument, Notice-based Registration