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Journal articles on the topic 'Documentary credit'
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1
خليل, زياد خلف, and نورة نهاد عبودي. "تحليل العلاقة بين الاعتمادات المستندية والتجارة الخارجية واثرها على تحقيق التنمية الاقتصادية في العراق." Journal of Economics and Administrative Sciences 23, no. 101 (December 1, 2017): 370. http://dx.doi.org/10.33095/jeas.v23i101.184.
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The aim of the research is to clarify the importance of documentary credits in foreign trade and especially their impact on the balance by limiting imports we highlighted the reality of documentary credits in Iraq and the accompanying changes and developments highlighted the indicators of foreign trade and finding solutions for harmonizing the fund Documentary and trade balance in order to achieve long term economic development.
The local banks are urged to restore the documentary credit system despite the backwardness and primitive methods used. The documentary credits have increased especially in the last years of the study period.
The advantages of the documentary credits have not been used to limit these imports and support the economic development process .
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Azar, Samih Antoine. "The Determinants of Export Documentary Credit in Lebanon." Accounting and Finance Research 6, no. 1 (January 10, 2017): 68. http://dx.doi.org/10.5430/afr.v6n1p68.
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The empirical literature on documentary credit is notoriously lacking. The main reason is the absence of clean statistics. Lebanon is an exception. Documentary credit can be either for import or for export purposes. This paper dwells on export documentary credit. The determinants of such credit can be classified into factors that are derived from the demand for exports, and additional unique factors. The derived factors are foreign demand, and the value of the exchange rate. The unique factors are borrowing costs and business and consumer confidence. Three types of export documentary credit have available data series: opened, utilized, and outstanding. The decision to open depends on all four factors. When the credit is utilized the collateral loans are repaid. Hence borrowing costs should not matter. The other three factors remain statistically significant. Outstanding documentary credit depends solely and surprisingly on foreign demand.
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sun-ok kim. "Compliance Rules in Documentary Credit Transactions." Journal of International Trade & Commerce 11, no. 5 (October 2015): 1–13. http://dx.doi.org/10.16980/jitc.11.5.201510.1.
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Alavi, Hamed. "Fraud in documentary letters of credit: A comparative study of excising international legal frameworks." Bratislava Law Review 1, no. 1 (October 1, 2017): 48–69. http://dx.doi.org/10.46282/blr.2017.1.1.65.
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Documentary letters of credit are among most popular trade finance instruments used in international business. Despite the fact that main purpose derived from application of documentary letters of credit is to reduce the risk of trade, their mere documentary nature makes them vulnerable to the problem fraud. There is a huge interest among legal scholars and academicians to analyse the nature of fraud in documentary letters of credit due to its important financial effect on smooth process of international trade and also diversified approach of different legal systems to this particular problem. However, majority of conducted studies are limited to most popular legal systems including British and American law. Need for studying the LC fraud in a comprehensive comparative manner among existing international legal frameworks is well noticed for long time. Due to their international nature, LC operation is subjected to substantial number of legal frameworks which most of them are either taking a silent position towards problem of fraud or do not show uniform approach to the it. In this paper, author tries to study di$erent sources of law in documentary letters of credit and their approach to the problem of fraud in a comparative manner. The main research question is what would be the position of fraud rule in applicable legal frameworks to the international LC operation and how do they approach the problem of fraud committed by beneficiary in documentary letters of credit? For this purpose, paper is divided into four main parts: After the introduction, second part will discuss the sources of law applicable to international LC transaction. Third section will analyse the legal nature of fraud in LC transaction. Fourth section will scrutinize the legal approach of different legal frameworks to fraud in documentary letters of credit and finally, the last section will sum up the discussion with concluding remarks.
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Rafique, Rushmila Bintay, and A. Vijayalakshmi Venugopal. "PREVENTIVE MEASURES TO MITIGATE THE RISK OF FRAUD IN LETTERS OF CREDIT TRANSACTIONS IN MALAYSIA." UUM Journal of Legal Studies 12, Number 1 (January 31, 2021): 27–49. http://dx.doi.org/10.32890/uumjls2021.12.1.2.
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This article attempts to analyse the issue of fraud in letters of credit (LC) transactions, also known as documentary credits. There are numerous reported cases of fraud in LC transactions, which remain a continuing risk. The UCP 600 is a popular standard of practice for banks, which confirms that banks must honour payment to the seller upon full compliance with the documentary credit requirements. Such payments have been made despite being presented with falsified documents or substandard goods being delivered. It might not be realistic to expect that the International Chamber of Commerce (ICC) can create global standards relating documentary credits, which cover the practicalities of the existing system and relevant legalities applicable to the letter of credit system in international trading. Each party involved may have a responsibility to take some preventive measures to mitigate the risk of fraud. The doctrinal method is used to conduct this study because it involves an in-depth analysis of the gap within the Malaysian system and the strategies that maybe be adopted to overcome the risks associated with LC fraud. Findings reveal that LC documents can be easily falsified, and the occurrence of LC fraud is not uncommon in Malaysia. However, given the lack of literature it has not been highlighted in the past couple of years. The primary focus of this article is to suggest preventive measures that the respective parties could take to protect themselves from fraudulent dealings involving LCs.
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Delimedjac, Mukadesa. "Documentary letters of credit and electronic banking." Ekonomski izazovi 3, no. 5 (2014): 66–78. http://dx.doi.org/10.5937/ekoizavov1405066d.
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Zhang, Yanan. "Documentary letter of credit fraud risk management." Journal of Financial Crime 19, no. 4 (October 5, 2012): 343–54. http://dx.doi.org/10.1108/13590791211266340.
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Alavi, Hamed. "Documentary Letters of Credit, Legal Nature and Sources of Law." Journal of Legal Studies 17, no. 31 (June 1, 2016): 106–21. http://dx.doi.org/10.1515/jles-2016-0012.
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AbstractThere is no doubt about risky nature of international trade. Such risk can be conceptualized as country risk, transportation risk, customer risk and etc. Documentary Letters of Credit (LC) are used as a method of payment in international business for many centuries in order to reduce risk of trade specially when parties are located in different countries and do not have precise information from financial standing of each other. In such occasion LC will reduce the risk of trade by shifting payment obligation from buyer as an individual to a payment guarantee of a bank as a legal entity in return for presentation of complying documents with terms of credit by seller. Familiarity with legal nature and different legal frameworks which govern the international operation of documentary letters of credit can facilitate the process of international trade for businessmen and boost national economies. However, lack of knowledge about them can impose huge losses on international traders. Situation will be more complicated when we understand that there are many internationally recognized legal frameworks which can affect the operation of LC and they get frequently updated in order to address technological and economic developments in global market. In this paper, author tries to answer questions regarding (i) what are international legal frameworks governing operation of documentary letters of credit? (ii) which areas of LC operation has been covered by them and (iii) how do they address the legal questions regarding international operation of documentary letters of credit?
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ALZYOUD, Dr Noor, and Dr Mahmoud ISMAIL. "Settlement of Documentary Credit Disputes under DOCDEX System." International Journal of Membrane Science and Technology 10, no. 3 (September 6, 2023): 1969–77. http://dx.doi.org/10.15379/ijmst.v10i3.1865.
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This study aims to present the unique product of the International Chamber of Commerce for dispute resolution in the area of trade finance, namely Documentary Instruments Dispute Resolution Expertise (DOCDEX). The ICC Banking Commission, together with ICC International Court of Arbitration, has designed these distinct set of rules for documentary credit issues, specifically adapted to resolve disputes over interpretation and monitoring of documentary credit implementations. The DOCDEX took effect in 1997 and was reviewed with effect from 2002. According to the DOCDEX, the ICC will engage independent experts who will make their decision. This decision will be considered by the ICC Banking Commission’s technical adviser to ensure that it is in line with the other opinions of the ICC. The decision will be made on the basis of the material provided by the parties, including their arguments. The study discusses the functioning of the DOCDEX Rules, how a DOCDEX decision is made and what law is applicable on the system. Moreover, attention is devoted to an exploration of the difference between DOCDEX system and arbitration. Lastly, the study found that the DOCDEX decision is not binding on the parties but can even more likely be used as evidence if the dispute is referred to a court or an arbitration tribunal.
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Alavi, Hamed. "Mitigating the Risk of Fraud in Documentary Letters of Credit." Baltic Journal of European Studies 6, no. 1 (February 1, 2016): 139–56. http://dx.doi.org/10.1515/bjes-2016-0006.
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AbstractDespite the fact that documentary letters of credit (LC) are meant to facilitate the process of international trade, their specific characteristics may increase the risk of fraud while being used as the method of payment in the process of international transaction. Many factors like exclusive use of documents, geographical distance, absence of efficient prosecution, the diversity of legal system at the global level and restricted application of fraud rule can be considered as reasons for LC fraud. While billions of dollars are lost annually due to fraud in the course of LC operations, such vulnerability can result in reducing the global popularity of documentary letters of credit as the main method of payment used in international trade. Meanwhile, it is worth mentioning that fraud risk management is an unexplored territory in the practice of documentary letters of credit operation. Existing research tries to fill the gap in the study on comprehensive methods for mitigating fraud risk in operations with documentary letters of credit by using risk management theory in order to answer the question of how to manage fraud risk in LC transactions? In a quest to answer the research question, the paper is divided into two parts: the first part is dedicated to preventive measures while the latter explores responsive measures of an enterprise to manage fraud risk in LC transactions.
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Alavi, Hamed. "Autonomy Principle and Fraud Exception in Documentary Letters of Credit, a Comparative Study between United States and England." International and Comparative Law Review 15, no. 2 (December 1, 2015): 47–68. http://dx.doi.org/10.1515/iclr-2016-0035.
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Abstract Despite the fact that Documentary Letters of Credit are involved in process of International Trade for many centuries, but their legal personality is very new and their life span is much shorter than their existence. In the middle of Eightieth Century, Lord Mansfield introduced legal aspects of LC operation for the first time to the Common Law System. Later, International Chamber of Commerce started to codified regulations regarding international operation of Documentary Letters of Credit in 1933 under the title of Uniform Customs and Practices for Documentary Letters of Credit and updated them constantly up to current date. However, many aspects of LC operation including fraud are not codified under the UCP which subjects them to national laws. Diversified nature of National Laws in different countries can be source of confusion and problem for many businessmen active in international operation of Documentary Letters of Credit. Such differences are more problematic in Common Law countries as a result of following precedent. For Example, legal aspects of International LC transactions under British Law are only based on case law, however, American Law addresses Letter of Credit Operation under Article 5 of Unified Commercial Code. Due to important role of English and American law in practice of international trade, current paper will try to compare their approach to autonomy principle of in LC operation, fraud rule as a recognized exception to it and search for answer to following questions what is definition of fraud, and what are standards of proof for fraud in LC operation, under English and American law?
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Han, Chang-Ryung, Hans Nelen, and Matthew Youngho Joo. "Documentary credit fraud against banks: analysis of Korean cases." Journal of Money Laundering Control 18, no. 4 (October 5, 2015): 457–74. http://dx.doi.org/10.1108/jmlc-12-2014-0048.
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Purpose – This paper aims to explore the feature and mechanism of a new type of documentary credit fraud that victimizes banks’ issuing letters of credit (L/C), harming neither the importer nor the exporter and seeks to suggest possible measures to tackle it. Design/methodology/approach – This study analyzed 30 cases of documentary credit fraud against banks that were detected by the Korea Customs Service (KCS) and interviewed three key customs investigators to interpret the case reports more accurately and gain a deeper understanding into the mechanisms governing the fraud. This study draws on routine activity theory and crime pattern theory to analyze the opportunity structures of this fraud. Findings – This study found that the importer that engaged in the fraud cases had established a solid business relationship with the exporter and had established trust with the victimized banks; the banks, despite the fact that they had their own risk management systems to screen out unqualified L/C applicants, were defrauded by the offending importers and exporters. Unlike ordinary documentary credit fraud, fraud against banks can be tackled by customs because the offender and the victim typically operate in the same jurisdiction, and this type of fraud often results in trade-based capital flight and money laundering, which is the target of customs enforcement. Research limitations/implications – As this paper is based on case reports of the KCS, it is inappropriate to generalize the findings or to apply the findings to other contexts. Nevertheless, the opportunity structure elaborated upon in the course of this paper may prove useful in devising measures to tackle this type of fraud elsewhere. Originality/value – Documentary credit fraud against banks is relatively unexplored, in particular from criminological perspective. This study can contribute to a refinement of the application of opportunity perspective to white-collar crime.
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Babović, Miloš. "Legal position of correspondent bank in documentary letter of credit transaction." Pravo i privreda 59, no. 3 (2021): 450–66. http://dx.doi.org/10.5937/pip2103450b.
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Considering that the documentary letter of credit is the most frequently used instrument of free foreign currency payments, as well as that the correspondent bank is an almost indispensable participant in the international letter of credit transaction, this paper is dedicated to analysing its position. The correspondent bank may take on the role of advising a letter of credit to a beneficiary, honour presented documents, or add its confirmation to a letter of credit. Depending on whether it appears as an advising, nominated or confirming bank, its rights, obligations, and responsibilities will be determined. This paper discusses the legal position of the correspondent bank depending on the role it plays, but also the liability of the issuing bank for the damage that the correspondent bank causes to the beneficiary by its actions.
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Alavi, Hamed. "Limits of Autonomy Principle in Documentary Letters of Credit; Perspective of English Law." Journal of Legal Studies 19, no. 33 (June 1, 2017): 18–42. http://dx.doi.org/10.1515/jles-2017-0002.
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AbstractIn this article, the author reviews the approach of English courts to limits of autonomy principle and tries to answer the following research questions: What obligations should the applicant fulfil while opening a credit in accordance with the underlying contract? What are the seller’s remedies when the buyer fails to perform his duties regarding opining and performance of the credit? On the other hand, what are the seller’s duties in the process of opening the credit and what will be the buyer’s remedy in case of his failure? What is the legal position regarding variation of the credit? What is the position of court regarding absolute or conditional nature of the credit? In order to answer the above research questions, paper is divided into seven parts: after the introductory comments, the second part will review the nature of the buyer’s obligation in opening the credit. The third part is focused on effect of non-compliance by the buyer and the fourth part studies the variation of the credit and its effect on party’s rights within the underlying contract. Part five deals with the buyer’s rights after opening the credit while part six will discuss the absolute or conditional nature of the payment obligation to pay under the LC. Last but not the least, the final part will provide some concluding remarks.
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Chmielewska, Malgorzata Karolina. "Documentary Letter of Credit: A Pivotal Case for the Inefficiency of the Law of Contract." Revue générale de droit 35, no. 4 (October 31, 2014): 487–532. http://dx.doi.org/10.7202/1027179ar.
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This study compares the methods used both in common law and civil law jurisdictions to deal with the basic problems relating to the documentary letter of credit. A unique commercial device was thus developed in international trade as a means of ensuring safe and swift payment for goods. Even though this distinct mechanism works efficiently in practice, the numerous attempts made to classify it legally have been unsuccessful. A comparative analysis of the legal conceptualizations traditionally used to explain the nature of credit reveals apparent shortcomings in contractual theories. Because the basis of the documentary credit appears to be an abstract promise to pay, this phenomenon seems to break through the conceptual framework of traditional contract law theory. This is due to the fact that the process of forming the credit does not fit into the ordinary offer-acceptance formula. Yet, the easiest solution—the credit as a "mercantile specialty" or a "sui generis contract"—avoids facing the true challenge of our era, which is re-thinking the concept of "contracts" under modern laws. Legal debates should be directed in a more functional direction in order to provide satisfactory theoretical grounds for providing solutions to obvious, but still unanswered questions such as why people ought to keep their promises and why only some of those promises are likely to be legally enforced. It seems that, in this regard, documentary credit would be a convenient "guinea pig" for most contemporary concepts relating to the law of contracts.
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Akrem, Ali Taha, and Younis Othman Ali. "The Cancellation of Documentary Credit in Iraqi Trade Law Compared to the Standards of the International Chamber of Commerce (UCP 600)." Journal of University of Raparin 10, no. 4 (December 29, 2023): 887–906. http://dx.doi.org/10.26750/vol(10).no(4).paper39.
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This research is about (the cancellation of documentary Credit in Iraqi Trade law compared to the standards of the International Chamber of Commerce (UCP 600)). It is an analytical and comparative study, it is a scientific attempt that sheds light on how to cancel the documentary credit and its impact and effects in accordance with international standards in the International Chamber of Commerce (UCP 600), and compares it with the Iraqi Trade Law to identify deficiencies in Iraqi law. In order to be able in the near future to complete the legal deficiencies in Iraqi law and to comply with international standards.
Documentary credit is an important method in the field of international trade that makes commercial movement fast between countries and eliminates fear and anxiety among merchants and those doing business because fear and anxiety ultimately slow down commercial activity. Undoubtedly, the law must take its course to regulate these activities in the best manner.
Also, in the end, this research presents a set of results and suggestions, such as the solution to readers and researchers, which must be taken into account upon amending the Iraqi Trade law in the future.
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Jalilian, Negar, Seyed Mahmoud Zanjirchi, and Mark Goh. "Interactive scenario analysis of banking credit risks in intuitive fuzzy space." Journal of Modelling in Management 15, no. 1 (November 18, 2019): 257–75. http://dx.doi.org/10.1108/jm2-01-2019-0011.
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Purpose The purpose of the paper is to bring attention to documentary credits and the efforts to reduce debt obligations in credit history is recognized as an important source of uncommitted bank earnings. Credit risk has a significant impact on the stability of the banking system. This paper identifies the types of credit risk in the banking supply chain. Design/methodology/approach The authors model the types of credit risk using the intuitive fuzzy failure modes and effects analysis (IFMEA) and intuitive fuzzy cognitive mapping. The population of the study that is needed for the interviews and expert panels comprises senior managers and experts of a leading bank in Iran. The respondents are experienced in credit and banking risk and were selected through judgment sampling and snowballing. Findings The findings suggest that reducing the risks of the foreign letters of credit contracts can mitigate the risk in the agricultural sector, the specific risks of rent-to-own contracts, the risk of the long-term facilities and the specific risk of the domestic letter of credit contracts. Originality/value This research investigates Iran Tejart Bank’s credit risk, formulates a model of the types of credit risk present and analyzes them using the intuitive fuzzy failure modes and effects analysis and intuitive fuzzy cognitive map. Through this credit risk model, one can then facilitate risk management for better financial stability. Also, the model can be used to evaluate the risk indicators.
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Alavi, Hamed. "Comparative Study of Issuing Bank’s Obligations towards Beneficiary of the Letter of Credit under UCP and English Law." Hasanuddin Law Review 2, no. 3 (December 26, 2016): 289. http://dx.doi.org/10.20956/halrev.v2i3.259.
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Process of international trade is complicated and risky. Risks will be more considerable when times come to deal with receiving/sending payments from/to unknown business partners in remote geographic areas. Employing documentary letters of credit (LC) is one of the ways to reduce payment risk in international business especially when partner’s financial standing is unknown to each other. By using the LC as method of payment, parties will shift payment obligation from buyer as a natural person to the guarantee of bank as a legal person. The process of using LC is complicated and involves different players and relations between them. Amongst all relations in process of LC transaction, relation between issuing bank and beneficiary is the most complicated and least clear from legal stand point. This article tries to shed light on vague aspects of relations between issuing bank and beneficiary by studying obligations of the issuing bank towards beneficiary under the law of documentary letters of credit while comparing provisions of UCP with English Common Law on subject matter. Main objective of paper is providing answer to the question of what is the role of issuing bank in the process of LC transaction and which liabilities does it have towards beneficiary? Article consists of five main parts. Part one will provide an introduction to function and relation among different parties in process of an international LC transaction. Further, it endeavours to tap on principle of autonomy and strict compliance as governing principles of documentary letters of credit. Part two and three will take a comprehensive look at legal basis of relations between issuing bank and beneficiary, as well as bank’s obligations under documentary credit law. Part four will discuss liabilities of issuing banks towards beneficiary and finally part five will touch upon situation in which bank will right to recourse against beneficiary.
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Alavi, Hamed. "Contractual Restrictions on Right of Beneficiary to Draw on a Letter of Credit; Possible Exception to Principle of Autonomy." International and Comparative Law Review 16, no. 2 (December 1, 2016): 67–86. http://dx.doi.org/10.1515/iclr-2016-0015.
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Summary In some circumstances and despite having right to draw under the Letter of Credit, beneficiary agrees in underlying contract that he would not exercise his right before realization of certain conditions stipulated in the contract or any other agreement with applicant. Despite the fact that the instrument itself (documentary letters of credit and bank guarantees) entitles beneficiary for being paid upon presentation of complying documents, making such commitment will impose restrictions on beneficiary within the framework of underlying contract and creates different scenarios that raises respective questions. First scenario would be that beneficiary fulfills his commitments in underlying contract and receives payment under the credit and there will be no dispute between parties. Second scenario is where beneficiary presents complying documents to bank and demands for being paid the amount stipulated in the credit despite existence of an ongoing dispute with applicant regarding his performance in underling contract. Here, it will be a valid question if we ask whether or not breach of such restrictions by beneficiary will influence principle of autonomy? Consecutive question would be, shall the court consider beneficiary’s violation of his restrictive commitment in underlying contract as a new exception to principle of autonomy? To put it in different way, where beneficiary of documentary letters of credit or demand guarantee regardless of his awareness from independence of underlying contract from the credit commits in underlying contract to condition which restricts his right to draw on the credit; will he be allowed by court to rely on the principle of autonomy to neglect his commitment in underling contract? In short, should law recognize other exception in addition to fraud which is in accordance with limits imposed by underlying contract on beneficiary’s right to draw on the credit? In quest of answering above mentioned questions, this paper will be divided into six main parts. After the introduction, second part will describe nature of documentary leers of credit and principle of autonomy. Third part will analyse the nature of exception while fourth one will look at approach of different jurisdictions to this issue. Fifth part will provide different arguments in favour and against recognition of “underlying contract exception”1 and finally last part provides concluding remarks on the subject matter.
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Aladwan, Zaid. "UCP 600 Thirteen Years On: Is the Compliance Standard Working?" Business Law Review 41, Issue 3 (May 1, 2020): 85–88. http://dx.doi.org/10.54648/bula2020100.
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On 1 July 2007, changes to the Uniform Customs and Practice for Documentary Credits (UCP) 600 came into effect which emphasized that documents need not be absolutely consistent or mirror images of each other (the ‘strict approach’), merely that they must not be inconsistent (the ‘substantial approach’). In this article, the author considers how both the strict and substantial approaches have worked in practice and suggests a new basis for the proper compliance standard. Letters of Credit, UCP 600, Article 14, Article 15, Compliance Standard
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Bui, Linh Le Thuc. "Independence principle and its exception in letter of credit law: Suggestions for Vietnam." Science & Technology Development Journal - Economics - Law and Management 4, no. 4 (October 4, 2020): First. http://dx.doi.org/10.32508/stdjelm.v4i4.591.
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Even though the letter of credit was invented from a long time ago, however, its legal personalities are very new to the Vietnam Legal Framework. The International Chamber of Commerce (``ICC'') has issued principles for the documentary credit which is the Uniform of Customs and Practice (``UCP'') since 1933 and kept updating it until now, the latest version of UCP is UCP 600 which is presented in 2007. However, the UCP has not systematized many aspects of documentary credit yet and ICC considered those problems as subjects of domestic regulations. The diversification in different national laws leads to confusion thus causing many problems to merchants in international trade. Some countries do not have specified codifications to regulate the letter of credit so these countries treat UCP as ``quasi-law'' while other countries have their own legal framework for letter of credit law and even have fraud rules included. It is quite interesting that the United States which is a common law country is the first country to embody the operation of letter of credit in the Uniform of Commercial Code (``UCC'') and regulates the fraud rule within the same Code. This paper will try to explain and compare the principle of independence in the UCP and UCC, clarify the definition and regulations of fraud rule in UCC and evaluate the legal regulations of Vietnam law for the independence principle in a letter of credit.
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O’Brien, Anne. "(Not) getting the credit: women, liminal subjectivity and resisting neoliberalism in documentary production." Media, Culture & Society 40, no. 5 (October 10, 2017): 673–88. http://dx.doi.org/10.1177/0163443717734405.
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Women experience positive engagements with documentary as an enclave that values their gendered contribution, but also suffer negative encounters with it as a genre that restricts their full involvement, by promoting masculinist practices as normative. This gendered dynamic means that women occupy a liminal space with regard to documentary. Women’s liminal status is experienced negatively in a number of ways: first, during commissioning, where their approach to narrative, budgets and directing are questioned; second, in terms of work relationships where they are required to be relentlessly ‘likeable’; and third, when credits for work performed are withheld. Women’s subjective identities are constructed around this negative liminal positioning but it can become a position or form of positive adaptation to gendered and neoliberal subjectivity in their working lives. Resistance occurs when women conduct practices such as, first, enhancing the status of affective labour; second, when they undo or reject working through normative hierarchies; and third, when they collaborate in documentary production to negate neoliberal logics of individualization. Liminality, thus, constitutes both a way of understanding women’s negative experiences of gender inequality in documentary production but also a potentially positive form of resistance to the gendered precarity that characterizes creative labour.
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Alavi, Hamed, and Tanel Kerikmäe. "Mitigating the Risk of Documentary Discrepancy in Process of Estonian Export Letters of Credit Transaction." Multidisciplinary Aspects of Production Engineering 1, no. 1 (September 1, 2018): 425–32. http://dx.doi.org/10.2478/mape-2018-0054.
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Abstract The main subject of this paper is to study relations between metrics which affects payment risk under documentary letters of credit (DLC) from the exporters perspective in Estonia. This will result in reducing the risk of documentary discrepancy in presentation of documents to banks, decrease relevant costs to rectification of discrepancies which are nothing but a loss to exporter and improving the flow of international trade. For this purpose, the author takes an empirical approach in his strive to find answer to following questions: What are different types of discrepancy in Estonian export landscape? How relevant are deferent attributes of the DLC to attributes types of discrepancy? What measures should be in place to prevent risk of documentary discrepancy in DLC operation? (In Estonian export trade).
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Yunus Emre, Ay. "Legal aspect of documentary letter of credit fraud in international commerce." Law Review 23, no. 1 (2021): 130–43. http://dx.doi.org/10.7220/2029-4239.23.7.
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Lu, Liu, and Jong-chill Kim. "China Bank’s Documents Examination Standard and Practice in Documentary Credit Transactions." Korean Academy Of International Commerce 34, no. 4 (December 30, 2019): 63–82. http://dx.doi.org/10.18104/kaic.2019.34.4.63.
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Akrem, Ali Taha. "Documentary Credit as a Guarantee in International Business and The position of the Iraqi Law." Journal of Zankoy Sulaimani Part (B - for Humanities) 19, no. 1 (January 30, 2000): 441–57. http://dx.doi.org/10.17656/jzsb.10589.
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Oline, Emma. "Role of Project Risk Assessment on Performance of Credit Products at Bank of Africa, Rwanda." Journal of Entrepreneurship & Project management 7, no. 12 (November 1, 2023): 69–81. http://dx.doi.org/10.53819/81018102t4211.
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The study examined the role of project risk assessment on performance of credit products at the Bank of Africa in Rwanda. The study was guided by the following specific objectives: To determine the contribution of technical feasibility on performance of credit product at Bank of Africa, to establish the contribution of project financial viability on performance of credit product at Bank of Africa and to evaluate the contribution of client’s credit rating on performance of credit product at Bank of Africa. This study applied descriptive design to get results related to the study, the target population as well sample size was 72 respondents. Researcher utilized census as sampling technique. The source of data was primary and secondary methods. Questionnaires were adopted to collect primary data and documentary review applied for collecting secondary data. The data was obtained using descriptive statistical analysis with use of frequency, percentage, mean and standard deviation, and inferential statistics by the use of Pearson correlation (r) and multiple linear regression analysis through Social Packages and Statistical Science version 23. The presentation of results was presented using tables, the pilot test was determined to ensure the validity and reliability of instrument used in data collection. The results were presented using Pearson Coefficient Correlation to indicate the relationship between variables, the findings showed that technical feasibility correlated with credit product at Bank of Africa at r=0.76; Furthermore, project financial viability influences performance of credits products at correlation coefficient of .738 while the findings showed that there is positive correlation between client’s credit rating and performance of credit product at Bank of Africa at 72.1%. The study concludes that project risk assessment contributes to the performance of credit products through technical feasibility, project financial viability and client’s credit rating. The study recommends that project implementors need to improve the client credit rating to enhance performance of credit products. Keywords: Project Risk Assessment, Performance, Credit Products, Rwanda
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Al Maamari, Abdulwahab Abdullah, and Abdallah Hameed Al Ghuwairi. "Availability of Compliance Status in the Documentary Credit Opening Contract: A Study on the Jordanian Legislations." Mediterranean Journal of Social Sciences 12, no. 2 (March 7, 2021): 41. http://dx.doi.org/10.36941/mjss-2021-0011.
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The letter of credit (L/C) contract is one of a range of banking operations through which banks can finance foreign trade. The contract provides security and stability to the trade because of the trust and credit it gives, since the buyer may be in one country and the seller in another, so as to assure each other that the other party fulfills its obligation. However, is this contract can be considered as a compliance contract so the relations between parties is a submissive weak-strong relationship? This necessarily entails examining the availability of legal protection to prevent the abuse of a strong party. Hence, this paper aims to examine the availability of compliance status in the documentary credit opening contract and focuses on the Jordanian legislations as a case study. The comparative analytical approach is executed in this study. The findings reveal that the L/C contract is influenced by the concept of compliance, however the L/C contract can be adjusted by the client, in accordance with the rules and provisions of this credit.
Received: 31 January 2021 / Accepted: 27 February 2021 / Published: 7 March 2021
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Kozub, S. O. "ON THE ORDER OF DETERMINATION OF BANK ASSETS LOSSES AND CAUSING DAMAGE TO IT WHEN CONCLUDING CREDIT CONTRACTS." Theory and Practice of Forensic Science and Criminalistics 17 (November 29, 2017): 339–45. http://dx.doi.org/10.32353/khrife.2017.43.
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In paper considers the order of determination of bank assets losses and accordingly documentary acknowledgement of causing losses to it because of credit contracts conclusion when carrying out forensic economic examinations. A variety of credit contracts preconditions possibility of providing by banks of financial services in crediting on different conditions and with involving or without involving assuring, due to the conclusion of some of these there is possible causing of losses to bank. The contract of not renewed credit line in national currency of Ukraine is considered as an example. When performing a research on the specified question, the great value has determination, using registers of bank account, the debt receivable sum under credit contracts concluded with borrowers and definition that the debts against bank under such credit contracts as of concrete date are displayed as assets of bank and accordingly are not considered as hopeless. That is, the debts sum while there is a confidence of its repayment, cannot be defined as losses as there is a probability of reception by the enterprise of economic benefits in the future, and for the bank an economic benefit is a potential possibility of money resources reception on account of debts repayment that will lead to increase in its assets. Thus, for the determination of a damage size (causing of losses) for bank owing to the conclusion of credit contracts with borrowers, the presence of the following conditions is necessary: presence of assets losses; presence of the short-received incomes; presence of the established infringement of the legislation of Ukraine. Absence of documentary acknowledgement of the mentioned conditions (absence of the data certifying to causing of losses to bank as a result of the conclusion of credit contracts with borrowers) accordingly will affect upon the result of the expert research.
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Alfi, Rian, and Tubagus Rifqy Thantawi. "ANALISIS PERATURAN PERDAGANGAN INTERNASIONAL UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDIT (UCPDC) REVISI 600 DALAM TINJAUAN EKONOMI ISLAM." NISBAH: JURNAL PERBANKAN SYARIAH 1, no. 1 (June 1, 2015): 23. http://dx.doi.org/10.30997/jn.v1i1.214.
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ABSTRAKLetter of Credit (L / C) adalah metode pembayaran yang paling populer di dunia. International Chamber of Commerce (ICC) mengeluarkan Uniform Customs Dan Praktek Untuk Documentary Credit (UCPDC) sebagai aturan untuk menyesuaikan L / C. Saat ini berlaku UCPDC adalah UCPDC revisi 600 pada tahun 2007 yang dikenal sebagai UCP 600.Metode yang digunakan dalam penelitian ini adalah metode deskriptif kualitatif. Data primer dalam penelitian ini adalah semua yang terkandung dalam pasal-pasal UCP 600. sedangkan data sekunder adalah buku teks, jurnal, tesis, artikel, majalah, surat kabar, dan beberapa data dari website yang berhubungan dengan UCP 600, perdagangan internasional dan hukum Islam.Berdasarkan hasil ini setidaknya ada 5 artikel yang bertentangan dengan hukum Islam. Di antara mereka yang pertama adalah pasal 4 masalah whichhave dalam kontrak. Yang kedua adalah artikel 5which melarang bank untuk berurusan dengan barang-barang ketika bank dapat bertindak sebagai pembeli dalam variasi kontrak yang diperbolehkan dalam fatwa DSN MUI. Yang ketiga adalah pasal 7 yang memungkinkan pembayaran sebelum mencocokkan barang dengan dokumen. Yang keempat adalah pasal 13 yang mewajibkan bank penerbit untuk membayar denda dengan bunga kondisi.Kata kunci: Uniform Customs Dan Praktek Untuk Documentary Credit (UCPDC) Revisi 600, UCP 600
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Harris, William V. "Credit-Money in the Roman Economy." Klio 101, no. 1 (June 1, 2019): 158–89. http://dx.doi.org/10.1515/klio-2019-0006.
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Summary This article, in order to advance the debate about the nature of Roman money, sets out the strongest arguments in favour of the crucial importance of credit-money in the Roman economy (carefully distinguishing the use of credit-money from merely buying on credit). It invokes some texts that were not employed in previous discussions. The article also replies to the chief arguments of those scholars who have more or less maintained the traditional view that all, or almost all, Roman money consisted of coins. The most important question here concerns trust and information: to what extent did Romans know enough about those who owed them money to accept payment in documentary form? On this question, the author takes the ‘optimistic’ view.
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Efimova, L. G. "The Concept and Legal Nature of Transferable Letter of Credit." Lex Russica, no. 2 (February 1, 2019): 48–56. http://dx.doi.org/10.17803/1729-5920.2019.147.2.048-056.
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The article analyzes the concept and legal nature of a transferable letter of credit in the comparative legal aspect. The author compares the legal structure of a transferable letter of credit under the civil code with the legal regulation of a transferable letter of credit under the Uniform Customs and Practice for Documentary Credits (UCP) (2007 edition, ICC publication No. 600).Under the law, transferable letters of credit mean such letters of credit that the payer (applicant) and/or issuing Bank allowed to transfer to the second beneficiaries. The transfer of the letter of credit is executed in two transactions. First, the first beneficiary shall unilaterally declare his will addressed to the transferring Bank where the first beneficiary shall propose to the Bank to change the range of possible beneficiaries under the letter of credit. The will of the first beneficiary should be qualified as a unilateral transaction on behalf of the first beneficiary concerning the full or partial exemption of the issuing Bank (confirming Bank) from the original offer (opening of the letter of credit), if the transfer of the letter of credit to the second beneficiaries is made. Second, a transferring Bank makes a unilateral transaction to transfer the letter of credit to the second beneficiaries. This transaction is made by the transferring Bank on behalf, at the expense and in the interests of the issuing Bank (confirming Bank) on the basis of the authority granted under terms of the letter of credit. A unilateral transaction of the transferring Bank concerning the transfer of a letter of credit is an offer made on behalf of the issuing Bank (confirming Bank), and brought to the attention of the second beneficiaries (beneficiary) with a proposal to conclude a contract for the payment (acceptance and payment of a bill of exchange) against the relevant financial and/or commercial documents.At the same time, the transfer of the letter of credit leads to a change in the original offer to open a letter of credit to the first beneficiary in terms of a range of possible future acceptors.
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Cheolsoo Kim. "An Analysis on the Formality of refusal in Documentary Letter of Credit." Journal of International Trade & Commerce 9, no. 6 (November 2013): 617–37. http://dx.doi.org/10.16980/jitc.9.6.201311.617.
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Nuemat, Ahmed Adnan Al. "Documentary credit and fraud: the approach of the English and Jordanian Court." International Journal of Liability and Scientific Enquiry 4, no. 4 (2011): 358. http://dx.doi.org/10.1504/ijlse.2011.044089.
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Alwi, Sharifah Faigah Syed, Uzaimah Ibrahim, and Mohd Fuad Sawari. "An Issue on Uniform Customs and Practice for Documentary Credits (UCP) No 600 for Islamic Letter of Credit." Procedia Economics and Finance 7 (2013): 126–33. http://dx.doi.org/10.1016/s2212-5671(13)00226-8.
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Chafla Grada, Jorge Luís, María Auxiliadora Falconi Tello, and Gustavo Miguel Cabezas Paltán. "COMPORTAMIENTO DEL RÉCORD CREDITICIO EN INSTITUCIONES FINANCIERAS EN ÉPOCA DE COVID19." Investigación & Negocios 14, no. 23 (April 30, 2021): 152. http://dx.doi.org/10.38147/invneg.v14i23.133.
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Este artículo aborda el análisis del récord crediticio y su importancia de mantenerlo en excelentes condiciones en época de pandemia por efecto del Covid19. El estudio tiene un enfoque mixto, mediante análisis descriptivo y transversal, con base en un estudio de campo efectuado a una muestra de 250 personas como clientes de las más importantes instituciones financieras de la ciudad de Riobamba (Chimborazo - Ecuador), para exponer y ejemplificar los resultados del diagnóstico, apoyado en revisión bibliográfica-documental. Los resultados revelan que el 74% de los encuestados conocen su récord crediticio, la falta de pago de sus obligaciones en época de pandemia afectarán su historial crediticio pues el 82% lo afirman y el 70% de los encuestados confirman que es importante tener un excelente récord crediticio. Se concluye por tanto que es importante disponer de un excelente récord e historial crediticio en las entidades financieras y comerciales, si se desea obtener futuros beneficios crediticios, para sus actividades empresariales y personales.Palabras clave: Récord crediticio, central de riesgos, buró de crédito, créditos, covid19, pandemia.
AbstractThis article addresses the analysis of the credit record and its importance of keeping it in excellent condition in times of a pandemic due to Covid19. The study has a mixed approach, through descriptive and cross-sectional analysis, based on a field study carried out on a sample of 250 people as clients of the most important financial institutions in the city of Riobamba (Chimborazo - Ecuador), to expose and exemplify the results of the diagnosis, supported by bibliographic-documentary review. The results reveal that 74% of respondents know their credit record, failure to pay their obligations in times of a pandemic will affect their credit history as 82% affirm it and 70% of respondents confirm that it is important to have an excellent credit record. It is therefore concluded that it is important to have an excellent record and credit history in financial and commercial entities, if you want to obtain future credit benefits for your business and personal activities.Key word: Credit record, risk center, credit bureau, credits, covid19, pandemic
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Alavi, Hamed. "Remedies to Fraud in Documentary Letters of Credit: A Comparative Perspective / Opravné Opatrenia Pri Podvodoch S Dokumentárnymi Akreditívami: Komparatívna Perspektíva." EU agrarian Law 5, no. 1 (June 1, 2016): 1–13. http://dx.doi.org/10.1515/eual-2016-0001.
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Abstract Article 4 of the Unified Customs and Practices of Documentary Letters of Credit establishes the notion of autonomy principle by separating credit from underlying contract between account party and beneficiary. Article 5 by recognizing the autonomy principle confirms that effectuate the payment under credit, banks only deal with documents and not with goods. As a result, while documentary letters of credit are meant to facilitate the process of international trade, their sole dependency on compliance of presented documents to bank by beneficiary to actualize the payment will increase the risk of fraud and forgery in the course of their operation. Interestingly, UCP (currently UCP600) takes a silent status regarding the problem of fraud in international LC operation and leaves the ground open for national laws to provide remedies to affected parties by fraudulent beneficiary. National Laws have different approaches to the problem of fraud in general and fraud in international LC operation in particular which makes the access of affected parties to possible remedies complicated and difficult. Current paper tries to find answer to the questions of (i) what available remedies are provided to affected parties in international LC fraud by different legal systems? (ii) And what are conditions for benefiting from such remedies under different legal systems? In achieving its objective, paper will be divided in two main parts to study remedies provided by intentional legal frameworks as well as the ones offered by national laws. Part one will study the position of UCP and UNCITRAL Convention on Independent Guarantees and Standby Letters of Credit (UNCITRAL Convention) and remedies, which they provide to LC fraud in international trade. Part two in contrary will study available remedies to LC fraud and condition for access them under English and American legal system.
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Mhlanga, David. "Financial Inclusion in Emerging Economies: The Application of Machine Learning and Artificial Intelligence in Credit Risk Assessment." International Journal of Financial Studies 9, no. 3 (July 27, 2021): 39. http://dx.doi.org/10.3390/ijfs9030039.
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In banking and finance, credit risk is among the important topics because the process of issuing a loan requires a lot of attention to assessing the possibilities of getting the loaned money back. At the same time in emerging markets, the underbanked individuals cannot access traditional forms of collateral or identification that is required by financial institutions for them to be granted loans. Using the literature review approach through documentary and conceptual analysis to investigate the impact of machine learning and artificial intelligence in credit risk assessment, this study discovered that artificial intelligence and machine learning have a strong impact on credit risk assessments using alternative data sources such as public data to deal with the problems of information asymmetry, adverse selection, and moral hazard. This allows lenders to do serious credit risk analysis, to assess the behaviour of the customer, and subsequently to verify the ability of the clients to repay the loans, permitting less privileged people to access credit. Therefore, this study recommends that financial institutions such as banks and credit lending institutions invest more in artificial intelligence and machine learning to ensure that financially excluded households can obtain credit.
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Guarochico Porras, Shirley Silvana, and Jessica Paola Marca Ramirez. "Productivity Empowerment at Sumak Kawsay Credit Union." Concordia 2, no. 4 (September 1, 2022): 38–46. http://dx.doi.org/10.62319/concordia.v.2i4.16.
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Empowerment is the strategic tool that strengthens leadership and gives meaning to teamwork, where total quality ceases to be a motivational philosophy to become a radically functional system. The objective of the study is to evaluate the Empowerment to be applied in the SUMAK KAWSAY Credit Union of La Maná. The research is of quantitative approach, of the descriptive type, consists of a non-experimental design, with a documentary review on the Business Empowerment, the instrument was from the application of a survey to know the opinion of 20 current collaborators on the empowerment of the staff. The result contributed to the formulation of five strategic dimensions with the purpose of improving work performance, in order to strengthen their sense of belonging, motivation and professional development in the financial institution.
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Ernazarov, Normet Saparboyevich, and Oybek Odilovich Xudoyorov. "Important Aspects Related To Foreign Exchange Operations Of Commercial Banks." American Journal of Applied sciences 03, no. 04 (April 30, 2021): 157–65. http://dx.doi.org/10.37547/tajas/volume03issue04-22.
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This article provides analytical, critical and econometric analysis of the factors influencing the off-balance sheet operations of commercial banks of the Republic of Uzbekistan. Factors influencing documentary letters of credit, currency forward transactions, bank guarantee-related transactions, currency spot, currency futures and options from off-balance sheet operations, which are highly profitable for commercial banks, were studied.
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Kurebwa, Jeffrey. "Micro-finance as a Tool for Financial Access, Poverty Alleviation and Women Empowerment in Bindura District, Zimbabwe." Studies in Social Science Research 1, no. 1 (May 9, 2020): p21. http://dx.doi.org/10.22158/sssr.v1n1p21.
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The purpose of this study was to understand the role of micro-finance as a tool for women empowerment in Bindura Rural District of Zimbabwe. Qualitative methodology was used. Data collection methods used included semi-structured interviews, documentary search. The respondents for the study were drawn from rural women who had accessed loans from MFI, managers of MFI and the Zimbabwe Association of Micro Finance Institutions. The study found out that access to credit has positive outcomes on production, income, and consumption at household and macro-economic levels. Rural women in Zimbabwe lack adequate access to formal credit. The study found that that lack of adequate access to credit have significant negative effect on technology adoption, agricultural productivity, food security, nutrition, health, and overall welfare. The study concludes that the lack of collateral of the poor, their demand for smaller loans, and high transaction cost associated with small loans are the main factors that the poor are excluded from formal credit services.
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Nevlev, Vladislav Vladimirovich, Larisa Vladimirovna Solovyova, Vladislava Igorevna Solovyova, Inna Mikhailovna Nevleva, Anastasia Vladislavovna Nevleva, and Vladimir Kuzmich Nevlev. "Influence of cooperative ideologies on the origin of credit societies in Russia." Cuestiones Políticas 39, no. 71 (December 25, 2021): 579–93. http://dx.doi.org/10.46398/cuestpol.3971.34.
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The aim of the research was to examine the influence of cooperative ideologies on the origin of credit societies in Russia. The emergence of a legal framework for consumer and, later, credit cooperation in Russia came in two ways. The first formal credit union was established in 1831 by Russian military officers banished to Siberia after the December 1825 revolt. Other cooperatives were organized in a Western model by enthusiasts from the wealthy strata. Later, the history of cooperation in consumer credit before the revolution in Russia can be divided into three stages: first, 1831-1860 (before the peasant reform); second, 1861-1904 (after the peasant reform); and third, 1905-1917 (adoption of government regulations on cooperation). To solve the objective set, the authors used the documentary method close to the historical method. It is concluded that analysis of the preconditions of the first cooperative organizations in Russia shows that there were some known forms of primitive cooperation or pre-cooperation over the centuries.
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Kim, Jong Seok, and Doo Won Choi. "A Study on the Negotiation of Documentary Credit not Complying with the UCP." Regional Industry Review 44, no. 1 (February 28, 2021): 229–62. http://dx.doi.org/10.33932/rir.44.1.10.
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Jong-Chill Kim. "A Study on the Problems and Practices of Documentary Credit Transaction in Korea." KOREA INTERNATIONAL COMMERCIAL REVIEW 23, no. 4 (December 2008): 91–109. http://dx.doi.org/10.18104/kaic.23.4.200812.91.
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Park,Se-Won and Choi Jang-Woo. "The Effect of Non-documentary Conditions for Letter of Credit and Demand Guarantee." International Commerce and Information Review 13, no. 4 (December 2011): 273–93. http://dx.doi.org/10.15798/kaici.13.4.201112.273.
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Zhang, Yanan. "Documentary letter of credit fraud under criminal law regime in England and China." Journal of Financial Crime 21, no. 4 (September 30, 2014): 433–46. http://dx.doi.org/10.1108/jfc-05-2013-0039.
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Purpose – The purpose of this paper mainly is to examine the relevant rules concerning documentary letter of credit (L/C) fraud under criminal law in England and China. Design/methodology/approach – The paper analyses the regulations about such crime and relevant literature. Findings – The similarities and differences of such rules have been identified briefly. L/C fraud is considered a conduct crime; and unspecific or vague provisions concerning this crime may cause difficulties of application in judicial practice in both England and China. But the possible punishment for L/C fraud criminals under Chinese criminal law seems more severe than that under English law. Dealing with L/C fraud in international trade under national criminal laws is not effective. Regional and international efforts on legal assistance in cross-border criminal cases still remain to be improved. Research limitations/implications – The limitation is that it examines merely relevant substantial rules in legislation. This opens the paths to future research on the approach towards L/C fraud demonstrated in court cases in England and in China. Social implications – The research underlies the need to take serious attitude and make more effective efforts towards cross-border criminal cases, although different countries may have different rules concerning specific economic crimes. Originality/value – This paper fills the gap of a comparative study on how L/C is regulated under criminal law regime in England and China.
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Aladwan, Zaid. "The implementation of the fraud exception rule: a comparative study." Journal of Financial Crime 27, no. 3 (May 25, 2020): 977–93. http://dx.doi.org/10.1108/jfc-02-2020-0016.
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Purpose The purpose of this paper is to examine the application of the fraud exception rule and try to analyze the different approaches in regard to the implication of fraud rule in letters of credit. Further, this paper tries to explore if there is an obstacle when applying such exception rule in common law and whether there is an overlap with interpreting the said rule. The same fact appears in civil law courts as well. Design/methodology/approach This paper is a comparative study which uses analytical approach and critical legal thinking. Findings The scope of the fraud defence, the US legal systems demonstrate that the scope of the fraud rule is extended and covers both fraud in documents and fraud in the underlying contract, while in contrast, in UK the rule’s scope is restricted to fraud in documents only. Such an approach is reasonable, as it is justified by applying the Uniform Customs and Practice for Documentary Credits (UCP) rules strictly. That is to say, English courts apply the rules literally, even if it does not lead to fair judgements, while in contrast, American courts seek to enforce justice even if it goes beyond the rules. In any case, restricting the fraud exception to fraud in the documents is the proper approach. The reason for such restriction, on the one hand, is to maintain the integrity of letters of credit and, on the other hand, to affirm the autonomy principle. Originality/value Extending the scope of the fraud defence will require banks to go beyond the documents, which is not logical. Banks are neither expert in such transactions nor required to do so. Most importantly, banks are concerned with documents only; it is for the court to go beyond the documents. Although this approach could be criticized, it is important to ensure that the validity of the documentary credit instrument is not compromised. As established by academics, any argument need not engage the bank unless it is in respect of the presented documents. In short, “pay now, argue later” is paramount to distinguish parties’ litigations from banks vs parties’ litigations. In any case, it can be suggested that extending the fraud rule exception to include fraud in the underlying contract from Jordan perspective is not the proper one because it is necessary to maintain the integrity of letters of credit and to affirm the autonomy principle.
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Pečarić, Mario, Ivan Peronja, and Mislav Mostarac. "Application of “blockchain” and “smart contract” tehnology in international payments – the case of reimbursement banks." Pomorstvo 34, no. 1 (June 30, 2020): 166–77. http://dx.doi.org/10.31217/p.34.1.18.
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The aim of this paper is to find alternative method of executing reimbursement loan, as a form of documentary loan, that is, to investigate new digital technology methods (fintech) to improve the efficiency of the international exchange. Reimbursement loans are often used to credit the trade of overseas goods. The reason of such case is that the shipment of goods by the maritime transport requires a significant amount of time and those trades are often associated with high financial amounts. Since international trade (exchange) is a kind of a generator of society’s progress, it is necessary to explore the possibilities for making international payment cheaper, more efficient and more secure. In this case, we based our research on the implementation of modern technologies, more precisely “blockchain”/DLT (Distributed Ledger Technology) and “smart contracts”. The new reimbursement loan model presented in the paper is based on the aforementioned technologies. It could potentially change not only the documentary lending techniques, but also, eventually, overall financial paradigm. The effectiveness of the application of modern technologies is proven comparing the results of the so called conventional and unconventional reimbursement credit model on a real case involving two companies in Indonesia and Singapore. The paper also tackles on the further implementation of “smart contract” technology and “blockchain”/DLT, thus considering the potential impact of these technologies on overseas trade, credit markets and financial institutions. Finally, the paper argues on the limitations in implementing this new technique (e.g. legal, political and technical challenges).
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Hardipo Widyaputra, Sholahudin Ranggawuni, and Pujiyono SH MH. "The Enforcement of Simple Claim Process as a Role Model of Credit Agreement Conflict Resolution in Bank Perkreditan Rakyat (BPR)." International Journal of Multicultural and Multireligious Understanding 5, no. 4 (July 1, 2018): 394. http://dx.doi.org/10.18415/ijmmu.v5i4.360.
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This study is aimed to know varied factors influencing simple claim has not become role modelof credit conflict resolution in BPR. Research method is normative juridic. Data collection technique is documentary/literature study and books or other related documents with the case under study. Results of the research shown that several factors are influencing the simple claim not to be role model of credit conflict resolution in BPR because the non existence of regulation on simple claim to be the only legal effort in the resolution of credit conflict in UMKM. In addition, people feels that simple claim is poorly socialized and minimal information available related with the infrequent State Court verdict on simple claim case for reference, and support from the law enforcement which are frequently made to be simple claim to be non simple claim. Therefore, it is necessary for more efforts to introduce the resolution of simple claim in the resolution of credit conflict by seminars and also legal requrements stipulated as legal host in the resolution of credit conflict, which are not inflicting either party. The preliminary step for simple claim organizational image role model of credit conflict is that Supreme Court must immediately make PERMA to enforce PERMA No. 2 Year of 2015 on Simple Claim in credit conflict, with any legal consequence for the violator. BPR shall enclose clause of conflict resolution using simple claim in each credit agreement.
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Manole, Tatiana. "MANAGEMENT OF THE COMPANY'S INTERNATIONAL FOREIGN CURRENCY-FINANCIAL RELATIONS." Administrarea Publica, no. 2(114) (2022): 54–61. http://dx.doi.org/10.52327/1813-8489.2022.2(114).05.
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This article deals with the set of issues related to economic - currency-financial relations with abroad. To this end, we first presented the general concepts of this process including foreign exchange policy, the foreign exchange market accompanied by the exchange rate. For the practical work of the financial manager of the enterprise of particular importance are the transfers of funds through correspondent banks. That is why we considered it opportune for the financial manager to know the movement of funds in the process of import-export of goods. In this case, it is necessary to understand such financial categories as: the ,,nostro" account, the ,,vostro" account, spot transactions (,,spot"), forward operations, documentary credit, documentary collection, etc. International currency-financial relations are presented as a complex process.