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1. The plaintiff's claim is dismissed.
2. The costs of lawsuit shall be borne by the Plaintiff.
Reasons
1. Basic facts
A. On April 24, 2014, the Plaintiff entered into a sales bond insurance contract with the Defendant: (a) the insurance period from April 24, 2014 to April 23, 2015; (b) the insured amount is KRW 4,028,00,000; and (c) the buyer is determined as a e-mail special company (hereinafter “purchase subsidiaries”) and nine companies, respectively; and (d) the buyer compensates the buyer for part of the property damage incurred due to the nonperformance of the sales claim acquired in return for the provision of goods or services to the buyer as indicated in the insurance policy and the default of the sales claim acquired in return for such provision; and (e) the insurance amount is determined by applying the indemnity rate (80%) to the actual amount of damage; and (e) the sales bond insurance contract is “the instant insurance contract.”
(B) The terms and conditions of the instant insurance contract are 178,00,000 won and the buyer’s insured amount is 80,000,000 won. The major terms and conditions of the instant insurance contract are as follows:
4. The term "sales bond" means the principal of each credit account receivable and bill received in return for providing goods or services to a buyer in connection with commercial transactions;
5. The term "bills to receive" means notes which meet the requirements of Article 75 of the Bills of Exchange and Promissory Notes Act.
Article 9 (Formation and Appropriation of Sales Claims) (1) The sales claims shall be deemed to have occurred in any of the following cases:
1. When the goods are delivered to a buyer. (2) The cash, bills, etc. received by the policyholder as the settlement amount of sales claims shall be appropriated in sequence in the order of accrual of sales claims under paragraph (1) between the new policyholder and the policyholder;
Article 10 (Payment Deadline of Sales Bonds) (1) The payment deadline of the credit sales among the sales bonds shall be calculated from the first day of the month following the month in which the credit sales occur.