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Kayembe, Grace Longwa. "The Fraud Exception in Bank Guarantee." Master's thesis, University of Cape Town, 2014. http://hdl.handle.net/11427/4645.
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Žák, Pavel. "Využití bankovních záruk v mezinárodním podnikání se zaměřením na srovnání různých teritorií." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-76940.
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This thesis deals with bank guarantees, an instrument widely used especially in the field of international trade. The aim of this thesis is to characterize bank guarantees and their application in commercial relations. In relation with the growing use of bank guarantees in international business, the customary treatment of this challenging banking instrument will be analyzed and compared in different regions of the world -- i.e. Turkey, Syria, Iran, countries in the Organization for the Cooperation Council of Arab Gulf Countries and the Organization for the Harmonization of Business Law in Africa, - with the international standards of the International Chamber of Commerce. This thesis may be helpful for understanding demand guarantees and, due to the lack of comprehensive information, it could assist companies that trade in the above areas and are required to issue a guarantee to their customers.
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Zittová, Lenka. "Bankovní záruky v mezinárodním obchodu." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-193847.
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Diploma thesis describes possibilities of securing selected risks using bank guarantee instrument, which is used primarily in international trade. The goal is to analyze securing of commercial and territorial risks using bank guarantees, characterize different types of bank guarantees and possibilities of using them on international markets. The first chapter presents risks in international trade and the most common methods of securing - documentary letters of credit, documentary collections, promissory notes, standby letter of credit. The second chapter is devoted to product bank guarantee, introduces types of bank guarantees, exposure process and methods of use. The third chapter presents the Uniform Rules for Demand Guarantees (URDG). The practical part explores the usage of bank guarantees in selected countries (Germany, Russia, USA, China, India) and describes different approach to this product. Thesis has to help readers quickly find their way in a relatively complicated topic of bank guarantees, especially in case of trading on international market. The last part can help in case of trading with specific countries.
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Posey, Raymond L. Jr. "Analysis of the Terms of Bank Lending and Risk Management: Three Essays on Small Business Loans." Cleveland State University / OhioLINK, 2010. http://rave.ohiolink.edu/etdc/view?acc_num=csu1268432575.
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Gazdaricová, Jana. "Financování exportního obchodního případu." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2014. http://www.nusl.cz/ntk/nusl-224575.
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This thesis deals with the possibilities of financing export contract in the company. The theoretical part provides an insight into the opportunities that companies currently have in financing their activities. There is an overview of the various forms of internal and external financing and their basic characteristics. The practical part is focused on a specific business case and options for financing various parts of the contract. The conclusion provides a comprehensive overview of the variations, their comparisons and recommendations of the best one from the complex perspective.
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Lanz, Luciano Quinto. "The potential role of SMEs’ credit guarantee schemes to promote financial inclusion in Brazil." reponame:Biblioteca Digital do Banco Nacional de Desenvolvimento Econômico e Social, 2017. http://web.bndes.gov.br/bib/jspui/handle/1408/12915.
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Dissertação (mestrado) - Columbia University - School of International and Public Affairs, New York, 2017<br>Bibliografia: p. [64]-72<br>All rights reserved. The total or partial reproduction of the work is prohibited without authorization from the University, the author and the advisor.<br>Texto em inglês e resumos em inglês e português<br>A dificuldade de acesso ao crédito é um dos maiores obstáculos para a sobrevivência das pequenas e médias empresas (PMEs). Uma das principais razões para isso é a falta de garantias. Essa situação se reflete na baixa competitividade e alta desigualdade do Brasil. Os sistemas de garantia fornecem esta garantia. Esta tese analisa o papel potencial dos esquemas de garantia para promover a inclusão financeira no Brasil. Para alcançar esse objetivo, a pesquisa analisa a competitividade e a desigualdade do Brasil e sua relação com o acesso ao crédito. A metodologia utilizada foi um estudo de caso sobre o Fundo Garantidor para Investimentos (FGI), utilizando abordagem qualitativa e estatísticas descritivas. A coleta de dados baseou-se em entrevistas semiestruturadas, fontes secundárias, análise de documentos e dados operacionais. A análise utilizou os modelos de construção e reparação de confiança entre organizações, o papel dos bancos nacionais de desenvolvimento nos sistemas de garantia e o benchmark internacional para governança e eficácia dos esquemas de garantia. Os resultados demonstram que o FGI conseguiu criar uma governança adequada e estabelecer confiança com os bancos. Até 2017, 26 bancos contrataram mais de 32 mil operações no valor de 1,9 bilhões de dólares, com adicionalidades comparáveis ao benchmark internacional. No entanto, estudos adicionais são necessários para estabelecer uma ligação entre a adicionalidade dos esquemas de garantia e o desenvolvimento social e econômico.<br>Difficult access to credit is one of the greatest obstacles to the survival of small and medium-sized enterprises (SMEs). One of the major reasons for this is the lack of guarantees. This situation is reflected in Brazil’s low competitiveness and high inequality. Guarantee Schemes provide this guarantee. This thesis analyzes the potential role of guarantee schemes to promote financial inclusion in Brazil. To achieve this objective the research analyzes Brazil competitiveness and inequality and their relation to credit access. The methodology used was a case study over the Fundo Garantidor para Investimentos (Investment Guarantee Fund - FGI), using a qualitative approach and descriptive statistics. Data collection relied on semi-structured interviews, secondary sources, document analysis and operational data. The analysis used inter-organization trust building and repair models, the role of national development banks in the guarantee systems and the international benchmark for governance and effectiveness of guarantee schemes. The results demonstrate that FGI achieve adequate governance and established trust with the banks. By 2017, 26 banks contracted more than 32,000 operations worth 1.9 billion dollars, with additionalities comparable to the international benchmark. However, additional studies are necessary to establish a link between the guarantee schemes additionality and social and economic development.
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Pacheco, Mariana Pereira de Morais. "International bank guarantees in globalized world: the financial, comercial, legal and political risks of international trade transactions." reponame:Repositório Institucional do FGV, 2018. http://hdl.handle.net/10438/20172.
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Previous issue date: 2018<br>This thesis discusses the financial, commercial, political and legal risks of international trade operations involving International Bank Guarantees. It starts by defining the most usual international trade instruments and, then, defining Standby Letters of Credit, Performance Bonds and Bid Bonds issued according to the ISP 98, URGD 758 or UCP 600 as International Bank Guarantees. Later, it explores each specific risk. The financial risks are divided into foreign exchange risk, applicant's default risk and bank reputation risk. It is considered as a commercial risks frauds and low quality products. Legal risks are legal battles and local legislation. There is a topic that discusses specifically the U.S. related risks, as the country has a very particular legislation when it comes to International Bank Guarantees. The political risks are related to commercial embargoes and sanctions, changes in foreign policy and to the deterioration of commercial reations. The following section discusses how to mitigate each of the risks discussed. It shows whether or not this risk can be mitigated and if it also affects internation trade operations that do not use International Bank Guarantees. Lastly, the thesis discusses about the ideal international trade instrument. At the moment, International Bank Guarantees are the best instrument, still not the perfect one as it has some limitations.<br>Esta tese debate os riscos financeiros, comerciais, políticos e legais relacionados a operações de comércio internacional. A tese começa definindo os principais instrumentos usados em transações de comércio internacional. Em seguida, define como Garantia Bancária Internacional as Standby Letters of Credit, Performance Bonds e os Bid Bonds, emitidos de acordo com a ISP 98, URGD 758 ou UCP 600. Depois, a tese explora os riscos específicos das Garantias Bancárias Internacionais. São considerados riscos financeiros o risco cambial, o risco de calote da parte que solicitou a garantia e o risco de reputação dos bancos envolvidos na transação. Riscos comerciais são as fraudes e produtos de má qualidade. Os riscos legais analisados são referentes a batalhas judiciais e legislação local. Além disso, há uma parte da tese dedicada a discutir especificamente os riscos relacionados a legislação americana, que é muito diferente dos outros países em relação a Garantias Bancárias Internacionais. São considerados riscos políticos embargos e sanções comerciais, mudanças na política externa e a deterioração das relações comerciais entre dois países. A última seção da tese discute como mitigar os riscos involvidos em transações com Garantias Bancárias Internacionais. Nesta parte, discute-se quais riscos podem ou não ser mitigados eq quais riscos são inerentes a transações comerciais internacionais, independentemente do uso de Garantias Bancárias Internacionais. Conclui-se que, no momento, Garantias Bancárias Internacionais ainda são o melhor instrumento para assegurar transações comerciais internacionais. Contudo, estes intrumentos ainda não são perfeitos e estão sujeitos a muitos riscos e limitações.
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Simões, Bruna Isabel de Oliveira. "O sistema de garantia mútua em Portugal: solução no acesso ao crédito para PME's." Master's thesis, Universidade de Évora, 2011. http://hdl.handle.net/10174/14211.
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A presente dissertação tem como objectivo analisar a Garantia Mútua como solução no
acesso ao crédito para as micro, pequenas e médias empresas (MPME’s). As Sociedades de
Garantia Mútua (SGM’s) tiveram início em França no século XX, mais concretamente em 1917,
e são hoje um instrumento com grande tradição em muitos países da Europa Continental.
Estas instituições financeiras foram introduzidas em Portugal em 1992 por iniciativa do IAPMEI.
Em Portugal existem actualmente 4 SGM’s: Garval, Norgarante, Lisgarante e Agrogarante.
Esta última foi constituída em 2007 e visa apoiar apenas as empresas do sector agro-florestal.
No Sistema Português de Garantia Mútua existe um Fundo de Contragarantia que assegura
uma parte das responsabilidades das SGM’s, gerido pela Sociedade Portuguesa de Garantia
Mútua (SPGM), que detém participações significativas nas SGM’s, assegurando-lhes um
conjunto de serviços partilhados. A Garantia Mútua é um instrumento financeiro participado
pelo Estado Português através do Instituto de Apoio às Pequenas e Médias Empresas e ao
Investimento (IAPMEI) e do Instituto do Turismo de Portugal (ITP), bem como pelos principais
grupos bancários nacionais, actuando junto das MPME´s através da prestação de garantias
para diversos fins.
Tendo em conta o papel relevante assumido pelas MPME´s na estrutura económica e
empresarial portuguesa e as dificuldades encontradas no acesso ao crédito, nomeadamente no
que se refere a condições de custo, prazo e garantias prestadas, torna-se necessário permitir
que o acesso das MPME´s ao financiamento seja feito em condições em que a sua dimensão
seja menos relevante. Neste sentido, pretende-se nesta dissertação comparar os sistemas de
garantia mútua em diversos países europeus e analisar a utilização da Garantia Mútua em
Portugal, através da análise das garantias emitidas por SGM em função do seu tipo, sector de
actividade das empresas beneficiárias, da sua distribuição geográfica e de vários outros
critérios. Pretende-se ainda analisar o impacto e a evolução que a Garantia Mútua tem em
relação ao crédito concedido a MPE’s, permitindo verificar se a Garantia Mútua é solução ao
acesso de crédito em melhores condições; ABSTRACT: The objective of this dissertation is the analysis of the Mutual Guarantee as a solution in
the financing of the micro, small and medium enterprises (MSME's). The Mutual Guarantee
institutions were introduced in France in the early 20th century, more precisely in 1917, and are
today an important financial instrument with a long tradition in many continental european
countries. This activity was introduced in Portugal in 1992, an initiative of the IAPMEI
In Portugal there are currently 4 MGS's (Mutual Guarantee Societies), Garval,
Norgarante, Lisgarante, and still Agrogarante. This last was constituted in 2007 with the aim of
supporting only those companies in the agro-forestry sector. In the Portuguese system of
mutual guarantee there is a Counter-Guarantee Fund which guarantees some of the
responsibilities of the SGM's, managed by the Portuguese Society of Mutual Guarantee
(PSMG), which owns significant stakes in SGM's and provides them with a range of shared
services. The Mutual Guarantee is a financial instrument with participations of the Portuguese
government, through the IAPMEI and IFT, and of the major national banking groups, acting with
the MSME's by providing guarantees for various purposes.
Considering the relevant role assumed by the MSME's in the portuguese economic and
business structure, and the difficulties in accessing credit, particularly in what concerns cost
conditions, financing periods and guarantees, it is necessary to allow that the access to credit of
the MSME's is done in conditions where their size is less relevant. This dissertation aims at
comparing the various systems of mutual guarantee in several european countries, and at
investigating the use of mutual guarantee instruments in Portugal, by analysing the guarantees
issued by the MGSs considering their type, the activity sector of the benefting firms, the
geographical distribution and several other criteria. It also aims at examining the evolution and
impact of the mutual guarantee in terms of total lending to MSMEs, and whether the mutual
guarantee is a solution to access credit on better terms.
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Bertrams, Roeland I. V. F. "Bank guarantees in international trade /." Amsterdam : Nibe [u.a.], 1993. http://www.gbv.de/dms/spk/sbb/recht/toc/277508355.pdf.
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Štrossová, Šárka. "Srovnání platebních zajišťovacích instrumentů používaných v zahraničním obchodě." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-196537.
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The thesis is divided into two parts -- theoretical and practical. In first part hedging instruments, namely the Letter of Credit, Documentary Collection, Bill of Exchange, Factoring, Forfaiting and Bank Guarantee are analyzed. The aim of analysis is to describe the basic characteristics of instruments and course of these instruments. Subsequently, the instruments are compared to each other on the basis of the advantages and disadvatages they bring to participants. The next part is devoted to an analysis of charges associated with the use of particular hedging instruments in selected banks and the comparison of instruments based on selected criteria. The specific use of the hedging instrument is shown in the case study.
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Šoula, Michal. "Bankovní záruky zhotovitele stavební zakázky." Master's thesis, Vysoké učení technické v Brně. Fakulta stavební, 2016. http://www.nusl.cz/ntk/nusl-240281.
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The thesis deals with the topic of bank guarantees in the construction industry focusing on the contractor of the construction commission. The aim of this paper is the definition of bank guarantees in legal and economic terms, and on the basis of available literature, and also a proposal for the application of a bank guarantee in construction contracts. This thesis includes an overview of the products offered by national bank institutions in the field of bank guarantees and their comparison. The thesis contains an overview and description of bank guarantees used in the construction industry. The thesis focuses on a bank guarantee for the proper execution of the work (for the correct execution of the contract for work). There is described the progress of the guarantee from the contract for work until the warranty exercise and any dispute over the amount paid under the guarantee. Further, the paper deals with the use of bank guarantees in practice from the point of view of construction companies, focusing on the guarantee for the proper execution of the work. The thesis also describes solutions in the field of bank guarantees of construction companies, ways of surety, credit limits and bank charges for bank guarantees. In conclusion, there are described terms of the bank guarantee in the contract for work for the specific construction contracts and a method of preparation of the bid price for the contract with regard to where the cost appears applying the bank guarantee at the contractor's bid price. The contribution of this thesis is a comprehensive overview of bank guarantees in the construction industry and their application intended for a contractor of the construction commission.
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Mišoň, Petr. "Zajištění závazků v mezinárodním obchodě (ekonomické a právní aspekty)." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-76806.
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The first part of the thesis deals with a description of legal relationships in the international trade and explains the term "international element." Further there is a short description of private international law and international trade law. The second part of the thesis is focused on securing of contractual obligations in the international trade. The third part concerns with explanation of the basic forms of legal relationships in the international trade regulation with regard to securing of contractual obligations. The final part of the thesis deals with a description of securing instruments used in the international trade. At the end of this part there are listed factors which influence the choice of a suitable securing instrument.
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Karmašová, Alice. "Podpora drobného podnikání v České republice." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2009. http://www.nusl.cz/ntk/nusl-222171.
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The objective of the master´s thesis „Small business support in the Czech republic“ is to carry out analysis of current system of Small business based on a created scope of knowledge necessary for orientation in the respective topic, find deficiencies and suggest innovations. The first part is focused on history, on small and medium enterprise terms definition and the evolution of small business in the Czech Republic in the years 2000 - 2007. The second part is attended to analysis of particular support programs and pointed out on its benefits and disadvantages. In the following part was done the interview, which was intended to find out small and medium-sized entrepreneurs opinion on present situation in entrepreneurial subjects support system. I compared the results with interview investigation carried out in 2006. Final part contains suggestions and recommendations, which could lead to improvement in small entrepreneurs supporting in the Czech Republic.
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Jůn, Ladislav. "Vliv bankovních produktů na cenu stavby z pohledu dodavatele." Master's thesis, Vysoké učení technické v Brně. Fakulta stavební, 2012. http://www.nusl.cz/ntk/nusl-225577.
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The thesis is focused on the determination of fees for banking services and their proportion of the total cost of realization work. The theoretical part is zoomed in terms of supplier orders from the search for a recording contract for work that is described in detail. Furthermore, have been clarified the methods of determining bid price of construction, as construction is financed. The following is analysis of banking products that relate to construction contracts, what is their purpose, what is their price. The practical part is focused on the financial costs of several construction companies and their analysis. The last is a specific contract, which is described from the point of view gradually accruing costs.
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Konupková, Lenka. "Bankovní unie." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-192606.
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The aim of the thesis "Banking union" is to analyze and describe the concept of banking union, with respect to development and harmonization of rules before crisis. In addition to description of 4 pillars of Banking union the thesis tries to reveal the risks connected with rules harmonization and power centralization in hands of ECB. The obligatory membership is conditioned by common currency Euro, therefore there is an opportunity to analyze the potential benefits for states with own currency. This will be done in separate chapter 4th using Czech Republic as example. Thesis will be also enriched with opinion of politics and economist to which own authors comment will be added.
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Čermák, Pavel. "Sledování efektivnosti marketingu ve stavebním podniku." Master's thesis, Vysoké učení technické v Brně. Fakulta stavební, 2016. http://www.nusl.cz/ntk/nusl-240393.
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This thesis deals with monitoring the efficiency of marketing at construction company. The aim of the work is comparing the effectiveness of investments in marketing for the new and regular customers. The output of work is matching of the amount of investments made in marketing in contrast obtaining new and retaining existing customers during achieving the same profits.
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Neradová, Hana. "Exportní politika České republiky." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-74035.
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The aim of this thesis is to introduce export policy of the Czech Republic, the institutions, which offer support to exporters and to describe their services. One of the chapters focuses on The Export strategy of the Czech Republic for years 2006-2010, its projects and fulfilment in year 2010. The end of this thesis includes some possible improvements in system of the export support.
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Lindstrand, Henrik. "Bankgarantin enligt svensk rätt : Särskilt om Adjudication Bond." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Rättsvetenskap, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-13962.
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I uppsatsen utreds Adjudication Bond, vilket i Sverige är en ny typ av bankgaranti. För att bedöma denna görs en jämförelse med hur bankgarantier som rättsligt institut förhåller sig till svensk rätt. Bankgarantier används både i Sverige och internationellt. De utgör säkerhet för ett underliggande avtals riktiga fullgörelse. Den ena parten (uppdragsgivaren) till det underliggande avtalet ger banken i uppdrag att ställa ut bankgarantin till förmån för dennes motpart (beneficienten) för det fall att uppdragsgivaren inte uppfyller sitt åtagande enligt det underliggande avtalet. Bankgarantier kan varieras på olika sätt och ställas ut för alla typer av underliggande avtal. Bankgarantier är antingen självständiga eller accessoriska. Vid den självständiga bankgarantin ska beneficientens rätt till ersättning endast bedömas enligt bankgarantins villkor, emedan vid accessoriska bankgarantier denna rätt ska bedömas också enligt det underliggande avtalet. I garantins s.k. betalningsmekanism uppställs de krav som beneficientens begäran måste uppfylla för att ersättning ska utbetalas. Således kan det endast krävas en begäran från beneficienten (on demand), men därutöver kan det krävas att beneficienten till sin begäran presenterar ytterligare dokument, bestående av ett expertintyg eller ett domslut, som bekräftar beneficientens rätt till ersättning. Adjudication är ett speciellt tvistelösningsförfarande där en tvist ska avgöras med tillämplig lag men där avgörandet inte är slutligt. Således faller Adjudication Bond mellan expertintyget och domslutet. I uppsatsen framgår det att Adjudication Bond ska presumeras vara en självständig bankgaranti, med mindre det tydligt framgår i garantivillkoren att den är accessorisk. Vidare fastslås att Adjudication Bond är en bankgaranti som kan bedömas både enligt remburs- och borgensreglerna.<br>The thesis examines Adjudication Bond, which is a new kind of bank guarantee in Sweden. The examination is conducted by a comparison of how bank guarantees, as legal institutes, relate to Swedish law. Bank guarantees are used in Sweden and in international trade. They guarantee the due performance of an underlying contract. A party (principal) to the underlying contract instructs the bank to issue the guarantee on behalf of the principal in favour of the other party to the underlying contract (beneficiary) for the due performance of the underlying contract. Bank guarantees can be altered in various ways and be issued for all kind of underlying contracts. Bank guarantees are either independent or accessory. Under the independent guarantee the beneficiary’s call on the guarantee shall be assessed only pursuant to the conditions in the guarantee, whereas under the accessory guarantee the call shall be assessed also pursuant to the underlying contract. The guarantee’s payment mechanism specifies what requirements the call must fulfil in order to trigger the payment. Thus, the call may be honoured on the beneficiary’s demand (on demand), or the beneficiary may have to submit any additional document, such as expert certificate or a court decision, that confirms the beneficiary’s right to payment. Adjudication is a special sort of dispute resolution; the dispute is settled in accordance with applicable law but the decision is not final. Hence, the Adjudication Bond encompasses partly the expert certificate and partly the court decision. In the thesis I argue that the Adjudication Bond shall be perceived as an independent bank guarantee, unless it is clear from the guarantee’s conditions that it is accessory. Further, I hold that Adjudication Bond is a bank guarantee on which the rules of letter of credit and suretyship can be applied.
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Yu, Shan, and Shan Yu. "Money-Back Guarantee, Service Quality, and Productivity: The Marketing of In-Vitro Fertilization." Diss., The University of Arizona, 2016. http://hdl.handle.net/10150/621296.
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Marketing practices like Money-Back Guarantees (MBGs) and warranties are quite controversial in the health care market. Despite their professed intention to improve consumer welfare, MBGs are often decried for taking advantage of consumers who might not have the correct information. This concern is valid especially given the salient features of health care markets: a) customization, b) expert service, and c) difficulty in measuring service quality. For instance, in the context of in-vitro fertilization (IVF)-a medical procedure to assist infertile couples in having children-many health care and policy experts argue that MBGs offered by fertility clinics are nothing but marketing gimmicks and that these clinics either sort and treat only the more fertile patients or overtreat patients with more aggressive and risky treatment protocols. This concern, however, is in stark contrast with the signaling literature in marketing and economics. The central idea of the signaling theory is that the cost of offering MBGs can be so high that low-quality clinics are not able to afford mimicking the high-quality clinics' offering of MBGs. Essentially then, only high-quality clinics would be able to afford MBGs. Given these contrasting viewpoints, my dissertation aims to advance our understanding of the strategic MBG decisions in the health care market. Utilizing data from the U.S. IVF market, I investigate the relationship between MBGs and clinic capability, which contains two aspects: a) service quality, i.e., the effectiveness in transforming input to treatment outcome (or quality output), and b) service productivity, i.e., the efficiency in transforming input to production possibility (or quantity output). Considering the nature of the IVF market, my findings have natural extension to other health care and expert service markets. In chapter 2 (essay one), I empirically examine the underlying mechanism of MBGs-whether MBGs in the IVF market can act as credible signals of quality or simply marketing gimmicks-by investigating the relationship between MBG offers and treatment outcomes at the clinic level. The analysis is conducted on a large and unique longitudinal dataset that includes a) clinic-level treatment and outcome statistics for almost all IVF clinics in the U.S., b) fertility clinic characteristics and MBG decisions, c) information on state-level insurance mandates, and d) demographic characteristics. Using an instrument variable approach to account for the endogeneity of MBG decisions made by fertility clinics, I find that compared to clinics not offering MBGs, clinics offering MBGs secure better treatment outcomes (i.e., higher live birth rate) and use less aggressive treatment (i.e., transferring fewer embryos) without sorting higher fertility patients or imposing higher long-term risk (i.e., multiple birth rate). These results taken together suggest that MBGs can work as signals of quality despite the incentives for clinics to engage in opportunistic behaviors.In chapter 3 (essay two), I empirically examine the relationship between MBG decisions and clinic productivity. To quantify the unobserved productivity, I first incorporate the quantity-quality tradeoff into the production function and then estimate it using a non-parametric structural model approach recently developed in the economics literature. Empirically, to handle the endogeneity challenge caused by unobserved productivity, I use input change decision (i.e., hiring and investment) as a proxy for productivity. Then, I use an instrument variable approach to deal with the attenuation bias caused by measurement error in quality output. The results show that a) the quantity-quality tradeoff exists in the IVF market, b) expert labor plays a more important role than capital in determining the production quantity, and c) clinics with higher productivity are more likely to be offering MBGs, being non-profit, with longer experience, providing service to single woman, with higher competition, and in states with IVF insurance mandates. Compared to non-MBG clinics, MBG clinics have higher capability because they are not only more effective in transforming resource to successful outcome, but also more efficient in transforming capital and labor to production capacity. Shedding light on the public policy debate over MBG practice in the IVF industry, my study indicates that traditional marketing strategies deserve nuanced analysis in the health care and expert service markets.
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Valentin, Anke. "The impact of German guarantee banks on the access to finance for SMEs." Thesis, Edinburgh Napier University, 2014. http://researchrepository.napier.ac.uk/Output/7568.
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German guarantee banks provide guarantees for small and medium-sized enterprises (SMEs) that apply for bank loans but cannot provide their own valuable collateral; this lack of collateral would normally lead to credit restrictions. Consequently, the central aim of guarantee banks is to enable SMEs to be eligible for loans. In Germany, the state provides counter-guarantees in the range of 65-80 per cent of the guarantee bank's guarantee. To justify the governmental intervention and the risk-taking of the state, guarantee banks need to be evaluated regularly. The literature review has revealed that additional research about German guarantee banks is needed. Some interesting literature exists about the ability of guarantee schemes to alter the lending behaviour of banks and reduce information asymmetries between the lenders and the borrowers. However, the literature review has demonstrated that these mechanisms have not yet been tested empirically. The present research provided a unique research approach for bridging this gap. Following the conceptual literature, the research aim was to test the ability of German guarantee banks to compensate collateral shortfalls and make available loans to SMEs, reduce information asymmetries, create lending relationships and mitigate credit restrictions immediately as well as in a sustainable way. This was done by carrying out a web survey with firms that have received a guarantee from guarantee bank Hesse as well as conducting semi-structured research interviews with bank managers. The results have demonstrated that the provision of a guarantee from a guarantee bank provides the missing collateral to banks and makes available loans to otherwise credit restricted SMEs. Evidence has been found for a reduction of information asymmetries and a creation of lending relationships between the borrower and the lending bank. Moreover, connections between an application for a guarantee and the support of the region and cross-selling aspects of commercial banks have been revealed.
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Erbenová, Jana. "Exportní potřeby malých a středních podniků versus podpora státu." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-74346.
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For such a small open economy as is the case of the Czech Republic, export is one of the key growth factors. Further, small and medium sized enterprises are very efficient tool of the economic stability. Government should therefore analyse and fulfil export needs of those entrepreneurs. There is actually no questin about importance of government assistance. Most of the developed countries already help their small and medium enterprises. Ignoring this fact could lead to the reduction of the competitive strength of Czech companies. The diploma thesis analyses the export needs of those firms and compares them with the government assistance programs. Theoretical part is focused on definition of this entrepreneur's category, describes assistance frame and analyses the influence of export on the Czech economy. Practical part deals with individual export assistance programs and analyses the export needs of Czech exporters based on several surveys. The last part of the diploma thesis compares the Czech government assistance with the assistance that foreign countries provide their entrepreneurs with. The final recommendations regarding the possibilities of increase in the efficiency of the government assistence are included in the last chapter.
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Adeyeri, Modupe Oludare. "Integrative Innovation Strategy : a case study of Guaranty Trust Bank plc (GTBank)." Thesis, Massachusetts Institute of Technology, 2014. http://hdl.handle.net/1721.1/90214.
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Thesis: M.B.A., Massachusetts Institute of Technology, Sloan School of Management, 2014.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (pages 112-115).<br>Since starting in 1990, Guaranty Trust Bank plc (GTBank) has emerged as one of the strongest players in the African Banking space despite the challenging business climate. Firms operating in similar conditions - geographies, industries and markets; leveraging similar sets of resources - capital, skill and technology; and having identical organizational designs do not always demonstrate similar corporate performance. The situation could be likened to a normal distribution curve where a few of the firms are the industry leaders who outperform the rest on all metrics including profit. At the other end of the spectrum is another group who returns less than stellar performance. The majority however usually lies somewhere in the middle with acceptable performance, forming the industry average. The question which then arises is what constitutes the distinction between the great firms and other players within an industry or market? This is despite the similarity in operating conditions, resources at their disposal and organizational designs. There have been extensive academic and practice-based efforts to explain the likely causes of the gaps in performance among firms. While each attempt seems to present a valid position, it is likely that the success does not depend on any one effective management situation or strategy but rather in a novel combination of existing management, strategic and operational components in an innovative manner. I call this combination an "Integrative Innovation Strategy (IIS)" and use it to describe the distinctive advantage of GTBank. The research examines how Guaranty Trust Bank plc (GTBank) has emerged as a dominant player in the African banking landscape.<br>by Modupe Oludare Adeyeri.<br>M.B.A.
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Poláková, Jana. "Financování rekonstrukce panelových a bytových domů pomocí dotace." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2008. http://www.nusl.cz/ntk/nusl-221976.
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This Master’s thesis deals with performance and disassembly possibilities of financing of panel and flat building’s reconstruction. The thesis focuses mainly on the financing through grant from the PANEL. The specific example demonstrates the analysis and subsequent selection the most appropriate method of financing the general revitalization.
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Becerra, Valdivia Víctor Hugo, Oviedo Jonathan Gómez, and Pinto Eduardo Misael Villamar. "Propuesta de mejora del artículo 172° de la Ley 26702 para resolver la incertidumbre respecto de la vigencia de la denominada hipoteca “Sábana”." Master's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2018. http://hdl.handle.net/10757/626009.
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Según información publicada por la Superintendencia de Banca, Seguros y AFP en su Memoria Anual del 2016 (SBS: 2016), el saldo de los créditos directos del sistema financiero ascendió a S/ 271 672 000,00 que corresponde al 40% del Producto Bruto Interno (PBI) nacional correspondiente a tal ejercicio anual, monto que se deriva de las actividades desarrolladas por las 59 empresas de servicios múltiples que operan en el Sistema Financiero Nacional; cuya cartera crediticia estuvo compuesta de la siguiente manera: 64,9% se destinó a financiar actividades empresariales, 20,3% correspondió al segmento de consumo y 14,8% a créditos hipotecarios.
Gran parte de las operaciones crediticias anteriores cuentan con garantías reales, siendo la hipoteca una de las más requeridas por la seguridad que brinda su permanencia y, por la posibilidad de utilizarla de manera amplia, considerando la costumbre de otorgar una cobertura general destinada a respaldar el conjunto de obligaciones contratadas.
Sin embargo, diversas modificaciones legislativas han generado incertidumbre jurídica respecto de la contratación de hipotecas “sábana” destinadas a respaldar de manera general las obligaciones bancarias, cuya contratación fue tradicionalmente aceptada tal como funciona ordinariamente en otros sistemas legales.
El presente trabajo es uno estrictamente jurídico, sobre la base de información bibliográfica, que analizará los antecedentes de la garantía hipotecaria, contrastará su utilización con ordenamientos jurídicos extranjeros y culminará sugiriendo una modificación legislativa que ordene los criterios para la aplicación de la denominada hipoteca “sábana”, con algunos añadidos que harían segura su utilización, en resguardo del cliente bancario.<br>According to information published by the Superintendency of Banking, Insurance and AFP in its Annual Report of 2016 (SBS: 2016), the balance of the credits of the financial system amounted to S / 271 672 000.00 corresponding to 40% of the Gross Domestic Product (GDP) ) corresponding to the annual year, amount that derives from the activities developed by the 59 multiple service companies that operate in the National Financial System; whose credit portfolio was composed as follows: 64.9% went to finance business activities, 20.3% corresponded to the consumer segment and 14.8% to mortgage loans.
A large part of the previous credit operations with a real guarantee, being the mortgage one of the most required for the security offered by its permanence and the possibility of using it in a broad manner, considering the custom of granting a general coverage destined to support the group of obligations contracted.
However, several legislative amendments have been created by the current legislation on the contracting of "sheet" mortgages, which is traditionally accepted as it usually operates in other legal systems.
This work is a strictly legal, based on bibliographic information, which analyzes the background of the mortgage guarantee, contrast its use with foreign legal systems and culminate in suggesting a legislative amendment that the criteria for the application of mortgage mortgage ", With some additions that would make its use safe, in the safeguard of the banking client.<br>Trabajo de investigación
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Pochman, Jiří. "Způsoby řešení krizí bank." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-192615.
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This diploma thesis deals with mechanisms which can be used to resolve crisis of a bank. The first chapter introduces the reader to essential theoretical background and basis for following chapters. The second chapter describes and analyzes measures used by governments to support their financial sectors in 2008 -- 2012. The first part of third chapter deals with insolvency regimes for banks and general description of new recovery and resolution regimes. The other part of third chapter contains qualitative analysis of recovery and resolution regimes adopted by European Union member states in the form of BRRD. Final chapter analyzes on the sample of ten systematically important banks applicability of bail-in tool to resolution of their crisis.
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Gonzáles, Laca Carlos Miguel, and Faustor Carmen Jahaira Denise Villanueva. "Analysis of Article 159 of the Tax Code: An Appointment on the Denaturalization of the Counterclaim." Derecho & Sociedad, 2015. http://repositorio.pucp.edu.pe/index/handle/123456789/118818.
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In the first part of the article, a development for the concepts of provisional remedies and real or personal property bond and covering loss and damage, is proposed, under the Constitutional Court and our national doctrine view; as well as the scope of the first as a fundamental right, and second as a condition of execution. On the following part of the paper, the inclusion and the subsequent amendments to the article 159° of Tax Code is exposed, also its scopes and reasons. Finally, a possible modification of the article, that respect state´s raising goals and due process citizens’ right, is proposed.<br>El presente artículo desarrolla los conceptos de medida cautelar y contracautela, a la luz de lo resuelto por el Tribunal Constitucional y lo establecido por nuestra doctrina, así como los alcances del primero como derecho fundamental y del segundo como requisito de ejecución. De la misma forma, se analiza los alcances de la incorporación del artículo 159° del Código Tributario, mediante Decreto Legislativo N° 1121, y su modificatoria a través de la Ley N° 30230. Finalmente, se propone una posible modificación al mencionado artículo, de conformidad con los fines recaudatorios del Estado y el derecho a la tutela jurisdiccional efectiva de los administrados.
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Lau, Yam Shing. "Estimation of the current market value of banks and the pricing of risk-adjusted deposit insurance and loan guarantee in an option-pricing context : the case of Hong Kong." Thesis, University of British Columbia, 1987. http://hdl.handle.net/2429/26109.
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This paper presents a methodology for evaluating the solvency of banks and for empirically estimating the prices of government guarantees on loans made by banks and deposit insurance premiums, from the failure history of Hong Kong. The approach used exploits the isomorphic correspondence between loan guarantees and common stock put options. Though limited by the data set of publicly available information, this study is successful in identifying problem banks, and more specifically in evaluating the solvency of banks. Therefore, the model is useful in the early-warning aspect. Moreover, if the information set can be expanded to include those information available to the regulator, the result of this study can be improved.<br>Business, Sauder School of<br>Graduate
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Zhang, Wei. "The role of banks in transition economies : a case study of China with an emphasis on non-performing loans." Thesis, Loughborough University, 2011. https://dspace.lboro.ac.uk/2134/8287.
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This research evaluates the factors that caused unprecedented high levels of non-performing loans (NPLs) in Chinese banks and the measures that have been taken to deal with them. In examining the surrounding issues recommendations are made, which might resolve or at least ameliorate China's non-performing loans problem. An extensive literature is drawn upon and a systematic examination of the factors that were responsible for China's NPLs is presented. The research aims and objectives, and the subsequent research themes were identified after conducting field research in Chinese banks. Six managers in Chinese banks were interviewed and their views on non-performing loans in their respective banks were obtained. These banks included: the Industrial and Commercial Bank of China, the China Construction Bank, the Bank of China, the Agricultural Bank of China, the State and Development Bank and Citic Bank. The results of the interviews were used to design the questionnaire, which was distributed to 16 different banks. These banks are broadly representative of the main types of bank within China and include four state-owned commercial banks, seven joint-stock commercial banks, three foreign banks, one policy bank and one city commercial bank. Content analysis and descriptive statistical techniques were used to analyse the data and the findings revealed that lending managers generally lack adequate incentives to make efficient lending decisions. Moreover, although political interference in bank lending is quite widespread within China, it is not the only issue and certainly not the major issue in explaining why managers have a tendency to select inefficient projects. The measures taken to deal with NPLs in Chinese banking are also examined and the findings suggest that these have not been totally effective in resolving the problem.
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Bahbouhi, Soror. "Le conflit d'intérêts du banquier." Thesis, Paris 9, 2015. http://www.theses.fr/2015PA090060.
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Le conflit d’intérêts du banquier, terminologie galvaudée à force d’être invoquée à chaque nouvelle crise, sans pour autant que le droit puisse pleinement s’en saisir, est une notion particulière, autonome et originale qui aspire pourtant instamment à une existence juridique.Il est d'abord le résultat d’une incompatibilité d’un pouvoir et d’un devoir se trouvant concomitamment entre les mains du banquier. Autrement dit, c’est l’état de fait où le banquier détient le pouvoir d’affecter un intérêt, prédéfini comme supérieur, qu’il est tenu de protéger par devoir. S'il se trouve ainsi au cœur du droit de la représentation, qui régit une partie considérable des rapports clients-banquier, il ne s'y cantonne pas et peut aussi bien s’épanouir hors du cadre contractuel.Il suppose, pour exister, un préalable : une relation de confiance, dont le maintien semble avoir justifié des règles aussi nombreuses que disparates. Or, après en avoir effectué une revue critique, il apparaît que, principalement héritées de réglementations spécifiques aux services d’investissement, elles ne parviennent pas à pleinement l'appréhender au sein de ce domaine, et a fortiori pas dans sa sphère d’expression, qui s’étend bien au-delà. Une meilleure gestion juridique de cet objet d'étude nécessite alors que soient recherchées des critères de simplification et d'efficacité.Dans une approche prospective, l’analyse de l’interprétation des concepts de droit auxquels il est fait recours pour contrôler les conflits d’intérêts contractuels du banquier s'impose et révèle que l’obligation de gestion du conflit d’intérêts présente des traits communs à l’obligation traditionnelle de garantie du fait personnel. Une approche comparative des droits anglo-américains confirme la nature particulière de cette obligation du banquier face au conflit d’intérêts. Une telle obligation appelant nécessairement un régime spécifique, dont une ébauche de régime a finalement été proposée<br>Banker’s conflict of interests is a hackneyed concept being invoked with each new crisis without being fully seized by the law. Special, autonomous and original, this concept longs earnestly to legal existence. Conflict of interest is the result of an incompatibility of a power and a duty being simultaneously in the hands of the banker. It is the situation where the banker has the power to affect an interest, pre-defined as superior, that he has the duty to protect. The concept stands at the heart of the fiduciary and agency law governing a considerable part of banker-client relationship, but is not restricted to this area and can both flourish outside the contractual context. Banker’s conflict of interests assumes the existence of a prior : a relationship of trust, which it maintenance appears to have justified many and disparate rules. Mainly inherited from regulations specific to investment services, it appears, after a critical review, that they fail to fully understand the conflict of interest in this area, let alone within its sphere of expression, which extends far beyond. A better legal management of the studied object then imposes a search for simplification and efficiency. In a prospective approach, analyzing the interpretation of legal concepts to which recourse is made to control the contractual Banker’s conflict of interests reveals that the obligation to manage the conflict of interest has common features with the traditional guarantee obligation. A comparative approach of the Anglo-American law confirms the unique nature of the banker's obligation facing the conflict of interest. Such an obligation necessarily require specific rules and a draft is being proposed in the thesis
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Maymont, Anthony. "La liberté contractuelle du banquier : réflexions sur la sécurité du système financier." Thesis, Clermont-Ferrand 1, 2013. http://www.theses.fr/2013CLF10425.
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La liberté contractuelle du banquier est une liberté parmi d’autres. Cependant, elle est la plus sensible dans lamesure où elle peut avoir des répercussions sur son activité. A priori sans limites aujourd’hui, cette liberté auraitmême des conséquences indéniables sur la sécurité du système financier en facilitant le phénomène des« bulles ». Le contrat, situé au coeur de l’activité bancaire et financière, serait ainsi la cause de cette réalité. Leschocs récents, telles les crises financières, imposent l´examen détaillé des opérations bancaires nationales maisaussi internationales, notamment celles les plus dangereuses. Encore méconnue, la mesure de la libertécontractuelle du banquier s’avère nécessaire pour en proposer une relecture. L’objectif n’est donc pas d’excluretoute liberté au banquier mais de définir le degré de liberté contractuelle à lui accorder pour chaque opération.L´idée étant de lui octroyer un niveau satisfaisant de liberté tout en assurant la sécurité du système financier.L’enjeu repose finalement sur la conciliation de l’impératif contractuel, résultant de la liberté contractuelle dubanquier, avec l’impératif de sécurité du système financier, nécessaire à la pérennité des banques et del’économie mondiale<br>The contractual freedom of the banker is a freedom among the others. However, it is the most sensitive in so faras it can affect on his activity. Apparently unlimited today, this freedom would have even undeniableconsequences on the safety of the financial system by facilitating the phenomenon of “speculative bubbles”. Thecontract, situated in the heart of the banking and financial activity, would be thus the cause of this reality. Therecent shocks, such as financial crises, require the detailed examination of the national but also internationalbank transactions, especially the most dangerous. Still ignored, the measurement of the contractual freedom ofthe banker proves to be necessary to propose a review. The aim is not thus to rule any banker’s freedom out butto define the degree of contractual freedom to grant to him for each transaction. The idea being to grant him asatisfactory level of freedom while ensuring the safety of financial system. The stake rests finally on theconciliation of the contractual requirement, resulting from the contractual freedom of the banker, with the safetyrequirement of the financial system, necessary for the sustainability of banks and worldwide economy
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Wu, Chung-jhih, and 吳重志. "A Study on the bank guarantee system." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/67662384208473395726.
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碩士<br>國立中央大學<br>產業經濟研究所碩士在職專班<br>99<br>Under the background of the individual''s ever-expanding scale of economic activity, an increasingly well-developed commodity economy and therefore with the commodity''s rapid economic development, to ensure transaction security requirements will be times and growing, the creditor claims of the session to ensure that the liquidation period able to successfully recover their claims when, all will require the debtor to provide "guarantees". The so-called "guarantee" or "guarantee" or "responsible" means, in order to obtain settlement of claims, therefore can be described as a security system in the market economy system, in fact, the market capital flows around the spindle.
In this paper, "a bank guarantee system" for the research topic, in addition to the existing civil law provisions and practice made a complete set of elements, it is more based on the author is now working in the department of practical experience in bank loans, the bank''s commercial interests to consider as a starting from "the current system of bank guarantee taken by the" legal basis and the practical operation of the starting surface, analysis of "joint guarantee contract" "human security" and "material guarantee" effect between the pros and cons, "the maximum mortgage" or "personnel surety bond "or other special civil law such as corporate and bankruptcy law and banking law and practice of law on the case and the outline of the new law amended to provide a reference for future researchers.
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Jindrová, Lucie. "Bankovní záruka." Master's thesis, 2012. http://www.nusl.cz/ntk/nusl-310742.
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This thesis deals mostly with regulation of bank guarantee in Czech law, as well as with regulation on international level. The main aim of this work is to provide a complete perspective on bank guarantee, definition of its typical elements and its subjects and relations between the subjects, and to make classification of different kinds of bank guarantees. The work is divided into 12 main chapters and a great number of subchapters. Chapter one deals with a risk that is closely connected with bank guarantee, as bank guarantee is mostly used to secure risks. Chapter two is dedicated to historical development of bank guarantee and to previous regulation in the Code of International Business. Chapter three is focused on legislation of bank guarantee both in the Commercial Code and in other laws that regulate its use in the Czech Republic. This chapter is also concerned with the international law - mostly rules issued by the International Chamber of Commerce in Paris. Chapter four is mostly focused on characteristics of essential elements of bank guarantee, its differences from guarantee and its practical use. Chapters five and six are completely dedicated to establishment of bank guarantee and actions before its establishment. Chapter seven analyses subjects of bank guarantee and relationships between...
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Hsu, Ching-Kai, and 徐慶凱. "An Optimal Decision of Bank in Supply Chain Under Credit Guarantee Mechanism." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/374u3g.
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碩士<br>國立臺灣大學<br>工業工程學研究所<br>105<br>There are a huge amount of small and medium enterprises in Taiwan. They play an important role in domestic economic development. We are often confronted with the problem which is small scale. That is why the credit rating of bank is not high and the bank cannot provide good interest rates. The small and medium enterprises are always faced with lack of funds.
In this study, a credit guarantee mechanism is constructed. The retailer helps the supplier to make a part of guarantee and construct the mechanism between the supplier and the bank. When the supplier cannot repay the debts on time, the retailer shares how much the bank lost. At this time, we can look upon the retailer and the supplier as an integral and become the lender and the borrower with the bank. The bank can reduce the risk and decrease asymmetry information. Then, the supplier can get lower capital cost and increase productivity, and the profit of the retailer also increase.
We use Stackelberg model in this study. The leader is the bank which can know the retailer’s response function to determine the interest risk and the proportion of credit guarantee. The retailer determines the order quantity and unit price after the bank has already determined the interest risk. The objective function is maximum the profit of the bank. In this study, we discuss that the bank how to determine the interest risk in different conditions and make sensitivity analysis in important factors. In summary, the bank can make the optimal decision in the leader of a credit guarantee mechanism.
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Tomeček, Lukáš. "Bankovní záruka." Master's thesis, 2011. http://www.nusl.cz/ntk/nusl-298693.
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Title: Bank Guaranty The thesis deals with the topic of bank guaranty and its legal regulation in the Czech legal system. The purpose of this thesis is to give comprehensive characteristic of the most important parts of the bank guaranty, relations which are created during its usage and its particular types. The thesis can be subdivided into two parts. First part consisting of chapters 1 to 3 is a theoretical part. The second part deals with the bank guaranty from the practical point of view, including dividing of bank guaranty on particular types. First chapter deals with the general issues of security instruments, their nature, content and functions. Second chapter contains characteristic of legal regulation of bank guaranty in the Commercial Code and its comparison with previous Act. European law and general international law regulation is also part of this chapter. Third chapter deals with theoretical analysis of all substantial factors regarding bank guaranty. Process of its creation and formal and content to requirements are described in this chapter. Attention is paid to characteristic of all subjects appearing within bank guaranty and to relations created between this subjects subsequently. Process of exercising claims arising from bank guaranty and regulation of admitted objections against...
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Kelly-Louw, Michelle. "Selective legal aspects of bank demand guarantees." Thesis, 2008. http://hdl.handle.net/10500/1350.
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Bank demand guarantees have become an established part of international trade. Demand
guarantees, standby letters of credit and commercial letters of credit are all treated as
autonomous contracts whose operation will not be interfered with by courts on grounds
immaterial to the guarantee or credit itself. The idea in the documentary credit
transaction/demand guarantee transaction is that if the documents (where applicable) presented
are in line with the terms of the credit/guarantee the bank has to pay, and if the documents do
not correspond to the requirements, the bank must not pay.
However, over the years a limited number of exceptions to the autonomy principle of demand
guarantees and letters of credit have come to be acknowledged and accepted in practice. In
certain circumstances, the autonomy of demand guarantees and letters of credit may be ignored
by the bank and regard may be had to the terms and conditions of the underlying contract. The
main exceptions concern fraud and illegality in the underlying contract. In this thesis a great
deal of consideration has been given to fraud and illegality as possible grounds on which
payment under demand guarantees and letters of credit have been attacked (and sometimes
even prevented) in the English, American and South African courts. It will be shown that the
prospect of success depends on the law applicable to the demand guarantee and letter of credit,
and the approach a court in a specific jurisdiction takes.
At present, South Africa has limited literature on demand guarantees, and the case law
regarding the grounds upon which payment under a demand guarantee might be prevented is
scarce and often non-existent. In South Africa one finds guidance by looking at similar South
African case law dealing with commercial and standby letters of credit and applying these
similar principles to demand guarantees. The courts, furthermore, find guidance by looking at
how other jurisdictions, in particular the English courts, deal with these issues. Therefore, how
the South African courts currently deal/should be dealing/probably will be dealing with the
unfair and fraudulent calling of demand guarantees/letters of credit is discussed in this thesis.<br>Jurisprudence<br>LL.D
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Fang, Li-Peng, and 房利朋. "The Performance on Bank C for Credit Guarantee by Financing Small and Medium Enterprises." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/64779784613495559516.
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碩士<br>國防大學管理學院<br>財務管理學系<br>99<br>This research explores domestic Bank C by the end of December 2009. The research samples were randomly selected to assess 31 branches’ operation data as study samples throughout the year of 2009. The evaluation model of performance by financing credit guarantee for small & medium enterprises on bank is applying Data Envelopment Analysis to conduct the assessment as references for decision makers. Samples collected from observations use computer software DEA-Solver for efficiency analysis. The study includes 31 branches of the performance by financing credit guarantee for small & medium enterprises analysis of the overall efficiency, pure technical efficiency, scale efficiency, analysis of reference groups, sensitivity analysis and the potentiality to improve the value of analysis. The results not only selected branches’ credit department of the relative inefficiency as lessons of benchmark, but they also could be a clear strategy for improving recommendations. The empirical results show that Bank C may adopt this study’s evaluation model as references to upgrade the overall operating performance effectively for creating competitive advantage. Assessment model in this study if all banks are widely used as references, the overall performance of financing credit guarantee for small & medium enterprises business would be upgraded. Moreover, it will be beneficial to finance small & medium enterprises for their development and to promote our country's economic growth and social stability.
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Yu, Pei-yu, and 于佩玉. "To Evaluate the Small and Medium Enterprise Credit Guarantee Schemes--K Bank for Examples." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/mdg3uu.
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碩士<br>國立中山大學<br>財務管理學系研究所<br>95<br>In recent years, Small and Medium Enterprise Credit Guarantee Fund(SMEG) has been actively promoting organization restructuring, boosted its business unceasingly, and impelled each innovation guarantee service actively, in order to display the best benefit. This paper combines C. J. Kuo.（2003）market-based risk neutral model with actuarial valuation principles, using above observable rate discrepancy（i.e. one for that guaranteed by SMEG, and the other for non-guaranteed portion）to evaluate the credit risk SMEG assumed from guaranteed schemes, then derives the optimal guaranty fees model.
The major research finding shows fixed as follows conclusion:
1.The real prepayment in subrogation is close to the total guaranty fees estimated by proposed model.
2.Applying this model can help that the credit risk degree SMEG takes reacts to the guarantee premium, and that SMEG control risk balance revenue and expenditure.
This indicates that the model can reflect market information, and thus is easily applicable and referable by SMEG to establish the structure of guaranty fees as well as to reach an integrated risk management.
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Chen, Chuan-Pao, and 陳銓葆. "A Comparative Analysis of SME Credit Guarantee Policies—A Taiwan Commercial Bank as an Example." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/11524529538337550424.
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碩士<br>輔仁大學<br>金融研究所<br>98<br>Under credit crunch, the financial crisis in 2007 turned into an economic recession. Financial institutions riding the trend of globalization and large scale operation saw themselves badly hurt in the wave of the financial tsunami and became more and more conservative on domestic SME financing. In order to reduce the unemployment rate, governments then have to rely on their own means to induce financial institutions to extend credit and to help SMEs stay in business. Yet, banks’ decision to extend credit depends almost totally on the coverage of financial guarantees provided by the SMEs Credit Guarantee Fund instead of internal credit assessment. This thesis proposes SME investments as an alternative to loans that has the potential to offer both banks and the SMEs Credit Guarantee Fund a relief in undertaking credit risks without commensurate returns. Coupled with governmental incentives provided to foster growth of triple-bottom-line SMEs, Taiwan economy, environment and society can all benefit from such an initiative.
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Husng, Te-Chou, and 黃德洲. "A Study on Decision-Making Factors of Bank for Transferring to SME Credit Guarantee Fund." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/11078008279811219183.
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碩士<br>嶺東科技大學<br>國際企業研究所<br>99<br>This research investigated the decision-making factors involved for bank in transferring Credit Guarantee Fund. This Credit Guarantee Fund is channeled into their entrusted financial institutions as guarantee for their contract businesses. Standard sampling procedures were performed, based on the 2009 SME Credit Guarantee Fund Annual Report of the Republic of China for insured financial institutions and many bank. The steps of the study were defined. Bank were selected based on company shares, involving three public banks which were privatized and with shares in a private bank. Interview questions were formulated based on a summarized review of relevant literature, focusing on Credit Guarantee Fund transfer for SME with more than ten years of operational experience. The results of the interviews served as the research data. The following are the important conclusions drawn from the study:
1.Due to insufficient collateral of SME the bank that are willing to make commitments will transfer credit to the SME Credit Guarantee Fund to improve safety of claims.
2.Not all banks are willing to make commitments and as required by social etiquette, the funeral industry will usually be rejected.
3.Bank will be diverted to an ad hoc basis in the application of credit limits for SME. Increasing the amount of credit applications will pose greater risk and harm to the security of bank debts.
4.If the operating ratio and debt ratio of SME exceed the granted Credit Guarantee Fund, SME will be asked to provide accounts for capital increase and sign contracts, in order to set the quality for the repayment of deposit sources.
5.To stimulate the economy and boost domestic economic development, the Government heavily promotes large-scale credits. Bank will unanimously support the Government in this program and will be willing to improve credit transfers to SME.
6.This program involves responsible persons or their spouses and bank credit or cash card holders who spend the balance of the revolving credit, or when the application for the SME credit transfer will require more stringent reviews.
7.Banks provide performance bonus incentives, which can boost staff morale, but these do not necessarily result in an increase of SME Credit Guarantee Fund.
8.For young entrepreneurs currently receiving bank loans, such as micro-business loans, the Phoenix project is an intercompany loan program focused on bank shares and is more than the usual contract bank credit, based on certain eligibility requirements.
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Wang, Cheng, and 王政. "Optimal Decision Model of Leading Bank of Syndicated Loan under Supply Chain Credit Guarantee Mechanism." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/22259006704304007852.
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碩士<br>國立臺灣大學<br>商學研究所<br>102<br>Small and medium enterprise (SME) acts as an essential cornerstone in economic development in Taiwan, and its operation efficiency depends on the stability of supply chain. The effectiveness of financing channel of SME is a key issue of the stability of supply chain. However, on the one hand, SME often can’t provide sufficient credit or collateral, so the bank tends to avoid default risks by not lending money to SME, but on the other hand, the bank still needs to lend money out because the major source of its revenue comes from interest of lending. In short, there is a dilemma between supply and demand in financing channel.
To deal with this problem, a model named “Firefly Counterpart Guarantee”, which is founded by Small and Medium Enterprise Credit Guarantee Fund, is introduced in this research. This model works under credit guarantee mechanism: the manufacturer helps its supplier (SME) to have a loan from the bank by sharing part of the default risk of its supplier. If the manufacturer, a stakeholder of its supplier, can guarantee banks from part of the loss when its supplier is in default, the bank will have confidence in loaning. This research also refers to the syndicated loan mechanism: the supplier could borrow money from more than one banks. Banks would have more confidence in loaning when the default risk of the supplier is mutually shared by multiple participants. Above all, the goal of this research is to enhance the willingness of the bank when making loan to SME.
This research builds up a numerical model to maximize the expected net income of the leading bank of syndicated loan by varying four variables (Investment ratio in syndicated loan, Loan-to-value (LTV), Loan rate, and Default risk sharing ratio of the supplier by the manufacturer), under conditions of no party with negative profits. Next, this research simulates different decision-making situations by applying sensitivity analysis to four parameters (Possibility of default of the supplier, Ratio of shipment while in default, Material cost of the supplier, and Upper limit of loan rate). When a sound plan of income management is made, the leading bank would be more willing to have cooperation with supply chain under credit guarantee mechanism.
The result of this research shows that leading bank tends to equally share the loan with participant banks, and increases the loan rate as the priority method to improve profitability. While the loan rate is limited by the law or market, methods then depends on each situations. However, the practical use of above methods also involves the negotiation process between the manufacturer, the supplier, and the other banks of syndicated loan; the effectiveness of the provided plan in this research depends on the bargain power of the leading bank.
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Wang, Chia-Ling, and 王嘉琳. "A Case Study of the Financing Business Performance of First Bank, Hua Nan Bank, and Chang Hwa Bank with the Small and Medium Enterprise Credit Guarantee Fund." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/53817747777693870157.
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碩士<br>東吳大學<br>國際經營與貿易學系<br>101<br>From the USA financial tsunami to European debt crisis, the worldwide economy has been struck & hurt entirely. All Governments try their best to steady all industries during this financial crisis. There is no exception for Taiwan! All Taiwan’s banks focus on SMB (Small & Medium Business) to support currently, because SMB has limited capital & funding to arrange. Through financing toward SMB and even its venders/customers, banks could have their wanted profit.
The case study subjects were First Bank, Hua Nan Bank, and Chang Hwa Bank (Abbreviate as Three-Banks in the following contents). First, data envelopment analysis was used to measure the banks’ overall technical efficiencies, pure technical efficiencies, scale efficiencies, and super efficiencies. Then, by the slack analysis finds out the method and scope of Improvement. The input variables of this research are: human resource fees, lending of private enterprise, and total capital; the output variables are credit insurance earnest money, and net profit.
Through this empirical research we find that the operational performance inefficiencies for the three banks mainly resulted from scale inefficiencies and the status of increasing returns to scale. Based on the findings, these were ways for the three banks to increase their operational performances. First, they could open more branches and focus in areas with more small and medium enterprises. Secondly, they could educate and increase the number of employees in charge of credit guarantee fund or increase business assets (through loans for small and medium enterprises) business in order to meet customer needs.
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Siberová, Pavlína. "Bankovní záruka." Master's thesis, 2013. http://www.nusl.cz/ntk/nusl-324536.
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- Bank guaranty The thesis deals with the topic of bank guarantee and its legal regulation in the Czech legal system. The purpose of this thesis is to provide comprehensive characteristics of bank guarantee, both from theoretical and practical point of view. The thesis can be divided into tweleve chapters. The first chapter is the introduction a and the last chapters contains conclusion. Second chapter is focused on nature and function of securing instruments and their legal regulation in respective legislation. Third chapter compares bank guarantee with ordinary guarantee. Then includes historical development of bank guarantee and regulation of the instrument in the Commercial Code, in legislation of public law and in Uniform rules issued by International Chamber of Commerce. Fourth chapter is the focal point of the thesis. It explains relations between subjects participating in bank guarantee. These subjects are principal, benefictiary and bank. The fourth chapter also analyzes objections of bank, assignment of the rights from bank guarantee and guarantee charge. Lastly, it contains description of secured obligation and abuse of right to demand performance with its possible consequences in criminal law. Fifth chapter focuses on letter of guarantee and its content. Then it thoroughly analyzes...
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Oliveira, Daniela Alexandra Alves. "A garantia bancária autónoma à primeira solicitação: Em particular, a recusa legítima de pagamento pelo garante." Master's thesis, 2021. http://hdl.handle.net/10071/24259.
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Fruto da autonomia privada e da prática do comércio jurídico, a garantia bancária autónoma à primeira solicitação é das garantias mais utilizadas pelos agentes económicos, especialmente no comércio internacional.
Embora seja um tipo de garantia mais forte, flexível e célere do que as típicas garantias reais ou pessoais-acessórias, o seu regime jurídico excessivamente rigoroso, tende a suscitar incertezas e dúvidas.
O presente trabalho terá como objetivo analisar a garantia bancária autónoma na sua modalidade “on first demand”, com especial atenção às exceções que legitimam a recusa do garante em prestar a garantia.<br>As a result of private autonomy and the practice of legal trading, the first demand guarantee is one of the most used guarantees by economic agents, especially in international trade.
Although this type of guarantee is stronger, more flexible and faster than the typical real or personal-ancillary guarantees, its excessively strict legal regime tends to raise uncertainties and doubts.
Therefore, we will analyze the independent bank guarantee in its “on first demand” modality, with special attention to the exceptions that legitimize the guarantor's refusal to provide the guarantee.
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Jen-chung, Pan, and 潘仁忠. "Data mining applied to SME Credit Guarantee Credit Risk Prediction~ A Case Study of T Bank." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/zw8j2w.
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碩士<br>輔仁大學<br>統計資訊學系應用統計碩士在職專班<br>103<br>The Asian Development Bank estimates that Asia will increasingly become the focus of global economic development, and therefore Financial Supervisory Commission R.O.C （FSC）expect Domestic banks to continue improving their asset quality in order to grasp the business opportunities in fast-growing economies of Asia.Although T Bank has good credit quality assets, in order to achieve the expectations of the FSC, screening out the small business credit guarantee（SMEG）loans as the object to be improved, because of its overdue loan ratio remains high.By collecting SMEG loans 2,474 cases of T Bank from 2011 to 2013, including 80 overdue cases within a year after receiving loans, as well as to pay interest repayment of principal of the cases were normal 2,394 cases.With the above cases in the financial information and non-financial information before grant loans one year, selected key variables affect the SMEG loans overdue, and use Data Mining methods to establish an appropriate forecasting model of overdue.The test results, "the overdue case" and "normal case" of 1: 2 ratio of oversampling constructed with Logistic Regression model, both forecast accuracy and stability, assessed as the best model of this study, and this model can be increased 42.56% probability screened overdue short-term case than not compared to any model prediction.
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Wu, Mei-yen, and 吳美燕. "New Basel II Accord SME credit guarantee with the potential for development for example M bank." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/jbt2wy.
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碩士<br>國立中山大學<br>財務管理學系研究所<br>95<br>SME Credit Guarantee Fund established for the express purpose is to supply SME credit guarantee with the potential for development but lack the Collateral. It was financial institutions and credit financing. This study was based on a combination of market-based risk neutral evaluation model and insurance actuarial Principle assess the SME Credit Guarantee Fund to ensure that the current main business of insurance rates, According to the estimate and to the SME Credit Guarantee Fund and commercial banks to be charged with considerable risk of price compensation. In the management of business credit guarantees default risk.
Bank of samples by the empirical results show that under this model receivable procedures for estimating costs, and the total amount of compensation rather, past a single 0.75% guaranteed rates significantly undervalued, with a single rate is the inverse effect of choice, nearly half over the industry higher than the current guarantee fee from the top 1.5%. If a word, which is the standard fees, fear is still not allow the fund to two-profit and loss. The model is a simple response to both the characteristics of market information, for the SME Credit Guarantee Fund in the risk management and pricing rates to be on the reference.
Keywords:SME Credit Guarantee Fund. Credit risk. Risk management.
Insurance Actuarial Model
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Chang, Li-wen, and 張瓈文. "To Evaluate the SME''s Default Probability and Credit Guarantee Schemes--The Case of F Bank in Taiwan." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/xe8c29.
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Tsai, Ting-Yen, and 蔡廷彥. "THE RESEARCH ON EVALUATING THE RISK OF SMALL AND MEDIUM BUSINESS CREDIT GUARANTEE LOANS - TAKING X BANK AS AN EXAMPLE." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/27011901701447112399.
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Toro, Venegas Patricio. "Essays on the real effects of financial frictions." Thesis, 2016. https://hdl.handle.net/2144/19735.
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This dissertation studies the effects of credit availability on firm-level outcomes using a new matched employer-employee panel of Chilean firms that also includes firm-bank lending and tax data.
In Chapter I, using a natural experiment and a differences in differences approach, I show that firms that experienced a positive credit supply shock during the 2008-09 recession in Chile, exhibit higher labor productivity four years after the shock, even after aggregate demand and credit supply have fully recovered. Chapter II presents evidence consistent with the hypothesis that at least part of the productivity improvement is due to an increased ability of firms with access to credit to adjust labor during the recession. In particular, I find that these firms exhibit larger worker flows and use credit to adjust employment by churning more workers.
Chapter III studies a government partial credit guarantee scheme for bank loans to small and medium sized enterprises using a regression discontinuity design around the threshold for eligibility. I show that the program has a large positive causal effect on firms' total borrowing, and the effect is persistent. Moreover, firms that obtain bank loans through this scheme can borrow more from loans not insured by the guarantee, which means that the program has a positive effect on the firms's total borrowing capacity. Finally, the program also helps in the formation of new bank-firm lending relationships.
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Cheng, Ching-Yuan, and 鄭清淵. "The Factors of Non-Performing Loan of Small & Medium Enterprises Credit Guarantee Fund of Taiwan – A Case Study of H Bank." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/5gpb7d.
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碩士<br>國立雲林科技大學<br>財務金融系<br>103<br>The small and medium-sized enterprises have long been the critical cornerstone of the economic development in Taiwan. Besides, the development of small and medium enterprises is an epitome of Taiwan’s experience, which has played an extremely significant role in the economic development of Taiwan. In the course of the industrial development, enterprises are often confronted with difficulties in the obtainment of funds owing to the unwholesome financial structure, and the government has spared no efforts to assist small and medium enterprises in taking root and acquiring raising more smoothly.
The main samples of the study were the credit loan application data by SME that a commercial bank transferred to the authorities for credit guarantees. The number of the NT dollar credit cases together with the financial situation of the applicant enterprises was a total of 500 accounts, including default accounts and regular accounts. This thesis aims to examine the connection between the financial ratios the bank is currently adopting as well as its non-financial factors and the financial crisis of small and medium-sized enterprises. The Chi-square Tests and logistic regression statistical methodology were applied to analyze the key factors of the financial crisis of the enterprises. The finding of this research has shown that there are five variances that come into play in the important factors of influencing their credit guaranty, which include the the credit ranking of the business, the owner of the business and his or her spouse being the regular credit card users, the guarantee coverage percentage of SMEG, the debt to total assets ratio and the JCIC frequency. The study can be used as a reference for banks and the banking lending personnel in order to lower the possibility of the violation of overdue loans. As a result, the ultimate goal of risk control can be achieved successfully.
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Hejná, Veronika. "Bankovní záruka." Master's thesis, 2014. http://www.nusl.cz/ntk/nusl-336619.
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Bank guarantee Even after recodification of the private law in the Czech Republic, the bank guarantee remains an important means of covering risk; mostly due to its universal nature. The aim of this thesis is to provide a comprehensive view on the topic of bank guarantees, especially in light of the new Civil Code. The work will focus on defining the nature of the bank guarantee, as well as the ties between the subjects of the relationship formed within bank guarantees, and its basic principles. I have chosen this subject matter, as the bank guarantee remains pertinent, not only in foreign trade, but also in the Czech Republic, as evidenced by legislation such as the Public Procurement Act, the Act on Public Auction, or in the Customs Law. However, the most important role of bank guarantees remains in international trade, where in addition to market risk and performance risk of the contractual counterparty, a territorial risk prevails. In international trade, usually multiple banks take part in the guarantee relationship. This thesis is divided into eight chapters. The first chapter deals with ways of debt security in the new Czech Civil Code and conceptual and terminological changes. It briefly outlines and defines the institutes of insuring debt in new Civil Code. The second chapter concentrates...