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Journal articles on the topic 'Irrevocable letter of credit'

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Published: 4 June 2021

Last updated: 6 February 2022

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1

Sardjono, Agus. "Masalah Hubungan Hukum antara Pihak-Pihak yang Terlibat dalam Irrevocable Letter of Credit." Jurnal Hukum & Pembangunan 18, no. 5 (June 19, 2017): 464. http://dx.doi.org/10.21143/jhp.vol18.no5.1281.

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Letter of Credit (L/C) adalah suatu dokumen penting dalam perdagangan internasional. Karangan berikut ini mencoba untuk menguraikan seluk beluk L/C dari segi hukum. Permasalahan dapat timbul mengenai L/C jika terjadi sengketa antara pihak penjual dan pembeli dalam hubungan perdagangan internasional. Bagaimana hubungan hukum antara pihak pembeli, bank mengeluarkan L/C dan penjualan merupakan titik pembahasan dalam karangan ini. Terutama pembukaan L/C sebenarnya adalah untuk melindungi atau menjamin penjual terhadap kemungkinan pembeli tidak membayar harga barang. Adakah jaminan tersebut dapat terselenggara dengan sempurna ?

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2

Kumar, B. V. "Letter of Credit Fraud." Journal of Financial Crime 7, no. 3 (January 2000): 251–54. http://dx.doi.org/10.1108/eb025944.

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3

Lubis, Zaned Zihan Sosa Elsera, M. Nur, and Sanusi Sanusi. "Asas Keseimbangan dalam Perjanjian Penerbitan Letter of Credit Sebagai Transaksi Bisnis Internasional." Jurnal Magister Hukum Udayana (Udayana Master Law Journal) 8, no. 2 (July 31, 2019): 261. http://dx.doi.org/10.24843/jmhu.2019.v08.i02.p09.

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Letter of Credit is one of the payment instruments in international business transactions. Based on the agreement to issue a Letter of Credit, the Letter of Credit is issued by the issuing bank at the request of the applicant as the importer. The Letter of Credit agreement that is used by banks, in general, is a standard agreement that the clause has been prepared in advance by the bank. The imbalance in the standard agreement can be used by parties whose bargaining position is stronger to abuse the situation. The purpose of this study is to analyze national law and international law related to the issuance of the Letter of Credit. The next objective is to analyze the application of the principle of balance in the agreement to issue the Letter of Credit as an international business transaction. The type of research used is normative legal research using a statutory approach, the sources of legal materials used based on library research are analyzed qualitatively. The results of the study revealed that whether the principle of balance in the Letter of Credit issuance agreement had been realized in the practice of international business transactions. Letter of Credit adalah salah satu instrumen pembayaran dalam transaksi bisnis internasional. Atas dasar perjanjian penerbitan Letter of Credit maka Letter of Credit diterbitkan oleh bank penerbit atas permintaan pemohon selaku importir. Perjanjian penerbitan Letter of Credit yang dipakai perbankan pada umumnya adalah perjanjian baku yang klausulanya telah disusun sebelumnya oleh bank. Ketidakseimbangan dalam perjanjian baku dapat dimanfaatkan oleh pihak yang bargaining position-nya lebih kuat untuk melakukan penyalahgunaan keadaan. Tujuan penelitian ini adalah untuk menganalisis hukum nasional dan hukum internasional yang terkait dengan penerbitan Letter of Credit. Tujuan selanjutnya adalah untuk menganalisis penerapan asas keseimbangan dalam perjanjian penerbitan Letter of Credit sebagai transaksi bisnis internasional. Jenis penelitian yang digunakan adalah penelitian hukum normatif dengan memakai pendekatan perundang-undangan, sumber bahan hukum yang digunakan berdasarkan penelitian kepustakaan dianalisis secara kualitatif. Hasil penelitian mengungkapkan bahwa apakah asas keseimbangan dalam perjanjian penerbitan Letter of Credit telah terwujud dalam praktik transaksi bisnis internasional.

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4

Karbela, Karbela. "PENYALAHGUNAAN LETTER OF CREDIT DALAM PERDAGANGAN EKSPOR IMPOR UNTUK MELAKUKAN TRADE BASED MONEY LAUNDERING STUDI TERHADAP KASUS L/C FIKTIF BNI." Jurnal Hukum & Pembangunan 39, no. 2 (June 3, 2009): 145. http://dx.doi.org/10.21143/jhp.vol39.no2.207.

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AbstrakThis article gives elaboration by analysis onfake letter of credit issuance atEN!. The letter of credit in false issued is categorized as trade based moneylaundering. The false is done by mark up method for export-import invoicesas conditioned document of letter of credit why resulted increased goodsprice become more expensive. More of misuse of letter of credit that is aimedto money laundering practice known as predicate offences by countelfeitdocuments like truly international business transaction has been executed.The author does analysis to prove the using of false letter of credit washappened in EN!. The author opinion in EN! case can be regarded as tradebased money laundering on letter of credit misused by made false of leller ofcredit documents and more the export import transaction itself

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5

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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6

Burkovskaya, A., and V. Pavlenko. "Use of Letter of Credit Form of Settlements in Ukraine." Modern Economics 24, no. 1 (December 16, 2020): 39–44. http://dx.doi.org/10.31521/modecon.v24(2020)-06.

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Annotation. Introduction. The current state of Ukraine’s development provides broad conditions for enterprises in world trade, so the question arises how to minimize the risks of trade operations. The presence of risks and an unstable external environment can lead to non-fulfillment of obligations by the parties to the contracts. Therefore, the study of the letter of credit system for services is relevant because it will be able to ensure minimal cost risk. Purpose. The purpose of this article is to study the letter of credit as one of the reliable mechanisms for payment of foreign trade operations, and its use in Ukraine. Results. The article examines and investigates the system of letter of credit and its use in Ukraine. The main regulations on the regulation of letter of credit calculations are considered. The main advantages of the letters of credit are defined. The main stages of letter of credit conclusion are systematized. The impact of scientific and technological progress on the simplification of letters of credit is considered. Systematized main types of letters of credit and their classification. Conclusions. Using a letter of credit as a method of payment for goods and services will minimize the risks of both the seller and the buyer. In turn, the reform of the National Bank of Ukraine will allow the letter of credit to gain popularity and possibly become the main means of payment for foreign trade agreements. Keywords: letter of credit; form of calculations; obligation of the parties; types of letters of credit; basic regulations.

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7

Park,Se-Won. "Air Waybill Examination under Letter of Credit." KOREA INTERNATIONAL COMMERCIAL REVIEW 24, no. 3 (September 2009): 199–220. http://dx.doi.org/10.18104/kaic.24.3.200909.199.

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8

Wiwanitkit, Viroj. "Letter to the Editor: Authorship and Credit." Accountability in Research 20, no. 1 (January 2013): 57. http://dx.doi.org/10.1080/08989621.2013.749739.

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9

Park,Se-Won. "Price Escalation Clause of Letter of Credit." International Commerce and Information Review 16, no. 2 (March 2014): 89–109. http://dx.doi.org/10.15798/kaici.16.2.201403.89.

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10

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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11

Suhendar, Muh. "PENERAPAN HYBRID CONTRACT PADA LETTER OF CREDIT." AKSY: Jurnal Ilmu Akuntansi dan Bisnis Syariah 2, no. 1 (February 28, 2020): 111–22. http://dx.doi.org/10.15575/aksy.v2i1.7865.

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Keberadaan letter of credit yang benar-benar sesuai dengan syariah Prinsip-prinsip syariah telah ditunggu oleh para pengusaha muslim yang ingin menjalankan nilai-nilai agama mereka di sepanjang hidup mereka. L/C konvensional dipertimbangkan seperti pada L/ syariah karena praktiknya masih menerapkan sistem bunga. Itu Peraturan L / C Syariah telah ada dalam UU No. 21/2008 tentang Perbankan Syariah, dalam pasal 19 hal, dan jauh sebelum undang-undang dibuat, undang-undang tersebut keberadaan L/C Syariah telah disebutkan dalam Fatwa Dewan Syariah MUI Nasional No. 34/DSN-MUI/IX/2002 tentang L/C Impor Syariah dan Fatwa Dewan Syariah Nasional MUI No. 35/DSN-MUI/IX/2002 tentang L/C Ekspor Syariah. L/C Syariah dapat menerapkan beberapa model akad kontrak,seperti: wakalah bi al-ujrah, qard, murabahah, salam/istisna’, musyarakah, hawalah dan al-bai. Dari berbagai kontrak model yang dapat diaplikasikan ke L/C Syariah, wakalah bi al-ujrah dan murabahah dianggap sebagai yang paling efisien, paling aman, dan paling minimum berisiko. Kata kunci: Letter of Credit, Hybrid contract, wakalah bil ujrah

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12

Bui, Linh Le Thuc. "The fraud rule under letter of credit law in the people’s republic of China and implications for Vietnam." Science & Technology Development Journal - Economics - Law and Management 5, no. 1 (March 13, 2021): first. http://dx.doi.org/10.32508/stdjelm.v5i1.722.

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In international trade where the buyer and the seller do not have information about each other, letter of credit is used to assure the other parties' fears in the sale contract. For instance, the sellers are afraid of not being paid after sending the goods bought by the purchasers, meanwhile, the buyers have no reasonable grounds to believe the sellers will send the conforming goods under the requirements of the sale contracts. The letter of credit is a settlement between parties to reduce the risks and inserts security into the international sale of goods. However, there are fraudsters who tries to defraud the process of the letter of credit and fraud rule is expected to prevent this issue. There are countries tried to develop specific regulations for the letter of credit and fraud rule, one of those countries is the People's Republic of China (P.R.C). The practices of letter of credit in China had been an aiming point of critiques through years by letter of credit experts. In such wise, the Supreme People's Court of P.R.C has issued the Rules of the Supreme People's Court Concerning Several Issues in Hearing Letter of Credit Case (``the 2005 Rules'') in an effort to partly solve the problems. This paper will give a brief introduction about the letter of credit's operation, the law regulating the letter of credit in international trade as well as illustrate the specify law for the fraud rule in letter of credit law in P.R.C by emphasizing the history and summarizing the structure of the fraud rule. Thenceforward, the author will evaluate the case study in Vietnam to show the situation of Vietnam in these days and giving recommendations.

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13

Yu, Shi. "Application of letter of credit in international trade." Financial Forum 8, no. 1 (April 20, 2020): 14. http://dx.doi.org/10.18282/ff.v8i1.792.

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<p>In today's world, with the rapid development of economy, many countries have kept up with the pace of economic globalization, and international trade is becoming increasingly important. As a settlement method with banks as guarantors of both parties, L/C (letter of credit) is much safer than commercial credit, and has become the choice of most buyers and sellers in international trade. The purpose of this paper is to introduce the L/C and discuss its advantages and disadvantages in various situations in the application of international trade, and put forward relevant improvement measures.</p>

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14

Aladwan, Zaid. "Letter of Credit Disputes from an Arbitration Perspective." Hasanuddin Law Review 6, no. 1 (April 16, 2020): 46. http://dx.doi.org/10.20956/halrev.v6i1.2136.

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In a recent study, it might not be possible to refer letter of credit fraud cases to arbitration instead of litigation. Alavi’s research suggested that there could be some obstacles, such as obtaining banks’ response and cooperation; the different and high standards of proof of fraud required; and the difficulty in obtaining an injunction. His study answered a question proposed by Blodgett and Mayer as to whether arbitration would ever take place in letter of credit disputes. This short research paper will answer this question, but from a different angle: whether arbitration will provide more appropriate judgments (award) than litigation regarding letter of credit disputes. This question arises from the writer’s observation that, in the past twenty years, different judgments have been issued for similar disputes.

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15

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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16

Zhang, Cheng, and Ni Hu. "A New Method for Computing Letter of Credit Risks." SAGE Open 10, no. 4 (October 2020): 215824402097021. http://dx.doi.org/10.1177/2158244020970214.

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This study targets problems in the risk assessment and control processes of letter of credit settlements for Chinese export enterprises. It applies the quantitative method of exploratory factor analysis to extract the main factors and uses a confirmatory factor analysis to test the validity these constructs. VENSIM software is used to design the system dynamics causal tree and flowchart of the letter of credit system. The equation sets of DANAMO parameters are then constructed using the software. Finally, through analysis of the system risk fluctuation diagram with system simulation, it offers enterprises advice on how to identify potential risk points to prevent and control letter of credit risks in advance.

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17

Abad, Qamar. "Letter of Credit and its Significance in International Commerce." Pakistan Social Sciences Review 1, no. II (December 31, 2017): 153–65. http://dx.doi.org/10.35484/pssr.2017(1-ii)13.

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18

Khoiruddin, Khoiruddin. "Letter of Credit (L/C) dalam Produk Bank Syariah." Muqtasid: Jurnal Ekonomi dan Perbankan Syariah 1, no. 2 (December 1, 2010): 323. http://dx.doi.org/10.18326/muqtasid.v1i2.323-344.

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The existence of letter of credit which is really accordance with Islamicsyariah principles has been waited by moslem bussinessmen who want torun their religion values in all their life. The conventional L/C is consideredas on syariah L/C due to its practice still applicates the interest system. Theregulation of L/C Syariah has been existed in Act No. 21/2008 concerningPerbankan Syariah, in article 19 p, and long before the act was made, theexistence of L/C Syariah has been mentioned in Fatwa Dewan SyariahNasional MUI NO.34/DSN-MUI/IX/2002 concerning L/C Impor Syariah andFatwa Dewan Syariah Nasional MUI No. 35/DSN-MUI/IX/2002 concerningL/C Ekspor Syariah. L/C Syariah can applicate some models of akads/contracts, such as: wakalah bi al-ujrah, qard, murabahah, salam/istisna’,mudarabah, musharakah, hawalah and al-bai’. From the variety of contractmodels which can be applicated to the L/C Syariah, wakalah bi al-ujrah andmurabahah are considered as the most efficient, safest, and the most minimumrisky. Wakalah bi al-ujrah and murabahah are also an agreement that closestto the goal of L/C existence, that is: makes the international trade processbecome easier

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19

Hnativ, O. "The legal nature of the letter of credit relationship." Wroclawsko-Lwowskie zeszyty prawnicze, no. 7 (2016): 141–52.

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20

Al amaren, Emad Mohammad, Mohd Zakhiri bin Md Nor, and Che Thalbi Bt Md Ismail. "RISKS AND REMEDY IN ISLAMIC AND CONVENTIONAL LETTER OF CREDIT: JORDANIAN PRACTICES." International Journal of Islamic Economics 2, no. 01 (July 11, 2020): 54. http://dx.doi.org/10.32332/ijie.v2i01.2065.

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International trade and the movement of goods between parties living in different countries have spread in the last century and have become one of the fundamental features of the current trade. This proliferation of international contracts, of course, has its own problems. The problems of external Islamic or conventional letters of credit affect export, since letters of credit are considered a valuable tool used in financing foreign trade operations. Therefore, the problems faced by exporters in letter of credit reflect on and impact trade in general. Thus, the fewer the credit problems are, the more active foreign trade especially export will be. But if problems are relatively large, exports will contract. This study attempts to identify the problems of external and internal letters of credit facing the Jordanian traders and Jordanian Islamic and conventional banks, and to analyze them in an organized scientific manner, then proposing the appropriate recommendations to address these problems.

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21

Zhou, Hao. "Research of Innovative Risk Management in L/C Settlement - Based on Quality Control of Import Goods." Applied Mechanics and Materials 472 (January 2014): 1037–41. http://dx.doi.org/10.4028/www.scientific.net/amm.472.1037.

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Quality of import goods is possibly not up to standard in letter of credit settlement. In order to control the quality of import goods and to prevent exporter from fraudulent credit, importer takes some of the most effective terms that will be considered as soft term fraud by exporter. This paper analyzed the reason for the existence of such risks, and proposed innovative ideas on how to effectively control the quality of import goods in letter of credit settlement. Letter of credit (hereinafter referred as L/C) settlement serves as a more effective, timely and safe transaction way for both sellers and buyer in international trade, but there is still the risk of fraud [. Fraud risk is the greatest one in letter of credit settlement. Buyers will attach great importance to the quality of import goods, but exporter fraud will lead import goods not up to standard. In order to prevent such a quality risk, the importer will set some terms in the L/C, but these terms may be considered as soft term fraud by exporter. Research of risk management in L/C settlement will help importer effectively control the quality of import goods, and promote the L/C settlement.

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22

Andrianto, Agus. "Analisis Yuridis Penggunaan Perjanjian Pengikatan Jaminan Fidusia dan Kuasa (Ppjf) terhadap Mesin yang Masih dalam Pemesanan." JURNAL RECHTENS 8, no. 2 (December 31, 2019): 163–78. http://dx.doi.org/10.36835/rechtens.v8i2.532.

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Credit or financing based on sharia principles provided by banks carries risks, so in practice banks must pay attention to the principles of credit or financing based on sound Sharia Principles. As an intermediary institution and in line with the external and internal environment of the banking system, it is currently experiencing rapid development. Banks are required to be more flexible in providing financing / credit by accepting guarantees that will still exist in the future. One of them is through credit / financing activities based on sharia principles through instruments known in international trade transactions is a Letter of Credit ("L / C"). L / C is a guaranteed payment guarantee from the issuing Bank to make payment to the Exporter, for the presentation of the appropriate documents. For this reason, before opening an L / C, the issuing Bank must ensure that the customer / debtor has the ability to make payments when the customer's obligations have matured. Keywords : Credit , Bank, Letter of Credit

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23

Handayani, Tari Kharisma, Sanusi Sanusi, and Darmawan Darmawan. "Ketepatan Waktu Notaris dalam Pendaftaran Jaminan Fidusia Secara Elektronik Pada Lembaga Pembiayaan." Jurnal Magister Hukum Udayana (Udayana Master Law Journal) 8, no. 2 (July 31, 2019): 220. http://dx.doi.org/10.24843/jmhu.2019.v08.i02.p06.

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Letter of Credit is one of the payment instruments in international business transactions. Based on the agreement to issue a Letter of Credit, the Letter of Credit is issued by the issuing bank at the request of the applicant as the importer. The Letter of Credit agreement that is used by banks in general is a standard agreement that the clause has been prepared in advance by the bank. The imbalance in the standard agreement can be used by parties whose bargaining position is stronger to abuse the situation. The purpose of this study is to analyze national law and international law related to the issuance of Letter of Credit. The next objective is to analyze the application of the principle of balance in the agreement to issue Letter of Credit as an international business transaction. The type of research used is normative legal research using a statutory approach, the sources of legal materials used based on library research are analyzed qualitatively. The results of the study revealed that whether the principle of balance in the Letter of Credit issuance agreement had been realized in the practice of international business transactions. Pendaftaran Jaminan fidusia dilakukan secara elektronik sesuai dengan Pasal 11 ayat (1) UU No 42 Thn 1999 tentang “Jaminan Fidusia” (selanjutnya disingkat UUJF). Pendaftaran tersebut haruslah diajukan dalam jangka waktu selama 30 hari terhitung sejak tanggal pembuatan akta jaminan fidusia sebagaimana diatur pada Pasal 4 Peraturan Pemerintah RI No 21 Thn 2015 tentang “Tata Cara Pendaftaran Fidusia dan Biaya Pembuatan Akta Jaminan Fidusia”. Namun, dalam praktiknya masih terjadi keterlambatan terhadap pendaftaran jaminan fidusia tersebut. Tujuan penelitian ini untuk menjelaskan pertanggungjawaban notaris secara perdata terhadap pendaftaran jaminan fidusia secara elektronik yang melewati jangka waktu. Jenis penelitian yang dipakai ialah “penelitian hukum normatif”. Pada penelitian normatif mengkaji asas-asas dan norma-norma serta bahan pustaka atau data sekunder. Hasil penelitian mengungkapkan bahwa notaris secara perdata bertanggung jawab terhadap keterlambatan dalam pendaftaran jaminan fidusia tersebut. Keterlambatan pendaftaran yang disebabkan oleh kelalaian notaris merupakan perbuatan hukum yang menimbulkan konsekuensi hukum. Apabila notaris dalam masa 30 hari tidak melakukan pendaftaran dan pada saat didaftarkan jaminan fidusia secara elektronik pada sistem secara otomatis ditolak, maka hal tersebut adalah menjadi tanggungjawab notaris, apabila nantinya ada kerugian dari pihak kreditur maka notaris dapat digugat, artinya dapat dikenakan sanksi baik secara administrasi maupun secara perdata

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24

Dong-Yoon Kim. "Improper Demand of Payment in Standby Letter of Credit Transactions." Journal of International Trade & Commerce 7, no. 3 (September 2011): 339–57. http://dx.doi.org/10.16980/jitc.7.3.201109.339.

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25

Won-jin Kang. "Application Requirements for Fraud Rule in Letter of Credit Transactions." KOREA INTERNATIONAL COMMERCIAL REVIEW 25, no. 3 (September 2010): 237–54. http://dx.doi.org/10.18104/kaic.25.3.201009.237.

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26

Kozolchyk, Boris. "The Paperless Letter of Credit and Related Documents of Title." Law and Contemporary Problems 55, no. 3 (1992): 39. http://dx.doi.org/10.2307/1191864.

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27

Maulana, Irwan. "APLIKASI AKAD WAKALAH DALAM LETTER OF CREDIT BANK SYARIAH MANDIRI." Jurnal Asy-Syukriyyah 21, no. 02 (October 16, 2020): 175–93. http://dx.doi.org/10.36769/asy.v21i02.117.

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Secara harfiah wakalah adalah menjaga, menahan atau penerapan keahlian atas nama orang lain. Berarti menunjuk seseorang untuk mengambil alih atas suatu hal, juga untuk mendelegasikan tugas apapun ke orang lain. Wakalah juga merupakan tanggung jawab. Oleh karena itu, seorang wakil harus melakukan tanggung jawab sebagaimana seseorang yang dipercaya untuk melaksanakan tanggung jawabnya dengan amanah. Jika disyaratkan upah bagi penerima kuasa dalam transaksi pemberian kuasa, penerima kasus berhak atas upahnya setelah memenuhi tugasnya. Jika pembayaran upah tidak disyaratkan dalam transaksi dan penerima kuasa itu bukan pihak yang bekerja untuk mendapat upah, pelayanannya itu bersifat kebaikan saja dan ia tidak berhak untuk meminta pembayaran. Menurut hukum Islam, sebuah akad harus memenuhi komponen-komponen utama. Tanpa komponen-komponen utama tersebut tidak akan terjadi transaksi. Komponen dalam akad harus ada aqid, ma’qud alaih, mawdu al aqid, serta shighah. Aqid dalam hal ini adalah importir, eksportir, opening bank dan advising bank. Objek transaksi L/C harus bermanfaat dan tidak dilarang oleh syariat Islam. Oleh karena itu, jika objek di larang oleh syariat seperti narkoba, miras, dan lain sebagainya, maka secara otomatis L/C ini tidak sah atau batal. Dalam transaksi L/C Bank Syariah Mandiri lebih sering menjadi issuing bank. Nasabah berkedudukan sebagai importir membuka L/C di Bank Syariah Mandiri untuk di teruskan kepada nasabah luar negeri.

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Fauziah, Fauziah. "Sistem dan Prosedur Akuntansi Kredit Produktif pada PT Bank Pembangunan Daerah Jambi Cabang Muara Bulian: Suatu Tinjauan." Ekonomis: Journal of Economics and Business 3, no. 1 (March 19, 2019): 63. http://dx.doi.org/10.33087/ekonomis.v3i1.57.

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The purpose of this study is to find out the system and procedures for credit accounting for the provision of productive credit to customers/debtors of PT. Jambi Regional Development Bank Muara Bulian Branch which has been compiled in accordance with Financial Accounting Standards Number 31 and Bank Indonesia Circular Letter Number 14/26/BKDU. The method used is descriptive method that is by comparing the prevailing theory, in this case the Statement of Financial Accounting Standards Number 31 concerning Banking Accounting and Circular Letter of Bank Indonesia Number 14/26/BKDU Compared with credit procedures at PT. Jambi Regional Development Bank Muara Bulian Branch. The results of this paper indicate that credit accounting procedures on the provision of productive credit to customers/debtors of PT. Jambi Regional Development Bank Muara Bulian Branch has been carried out effectively and efficiently in accordance with applicable principles and regulations.

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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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sun-ok kim and 곽영식. "A Review of Compliance Standards under International Letter of Credit Transactions." Journal of International Trade & Commerce 10, no. 4 (August 2014): 525–45. http://dx.doi.org/10.16980/jitc.10.4.201408.525.

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Wonhyung Park and 김동윤. "Liability of Issuing Bank and Confirming Bank in Letter of Credit." Journal of International Trade & Commerce 7, no. 4 (December 2011): 299–321. http://dx.doi.org/10.16980/jitc.7.4.201112.299.

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Hajduk, Vojnić. "Basic legal analysis of the letter of credit in Serbian law." Zbornik radova Pravnog fakulteta Nis 58, no. 82 (2019): 283–304. http://dx.doi.org/10.5937/zrpfni1982283v.

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Choi, Cheol-ho, and Cheol-ho Kim. "Application of Blockchain Technology to Prevent Letter of Credit Transaction Fraud." Korean Academy Of International Commerce 35, no. 3 (September 30, 2020): 3–21. http://dx.doi.org/10.18104/kaic.2020.35.3.3.

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34

Hojjati, Sanaz Nikghadam, Fatemeh Soleimani Roozbahani, and Mohammad Reza Yavarzadeh. "Integrated Web-Based Letter of Credit System : Today's Opportunity , Tomorrow's Urgency." Academic Journal of Research in Economics and Management 2, no. 6 (June 2014): 57–66. http://dx.doi.org/10.12816/0006572.

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이창숙 and Won-jin Kang. "Problems on Examining the Electronic Records in Letter of Credit Transactions." International Commerce and Information Review 12, no. 2 (June 2010): 85–107. http://dx.doi.org/10.15798/kaici.12.2.201006.85.

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CheHashim, Rosmawani, and Nurul Shahnaz Mahdzan. "Fraud in letter of credit transactions: The experience of Malaysian bankers." International Journal of Law, Crime and Justice 42, no. 3 (September 2014): 224–36. http://dx.doi.org/10.1016/j.ijlcj.2014.01.008.

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37

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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38

Côté, Pierre-Paul. "Considérations sur le prêt commercial et la convention de prêt." Le prêt commercial 28, no. 4 (April 12, 2005): 861–96. http://dx.doi.org/10.7202/042845ar.

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Commercial credit has been given many different forms over the years and the various financial instruments are being constantly refined. By the same token, loan agreements have become increasingly complex documents. The main thrust of this paper is to examine the legal nature, legality and usefulness of a number of financial instruments and clauses usually found in a typical agreement, in the light of basic civil law rules and principles. The first part of this paper deals with a number of financial instruments, namely the open credit agreement, the banker's acceptance, the letter of credit and the letter of guaranty. Secondly the author analyses the typical loan agreement focusing on the convenant 'sfundamentals elements and discussing its relationship with the use of sureties. In particular, two civil law mechanisms that are of some interest in connection with the loan agreement namely novation and subrogation are examined. The third and fourth parts of this paper deal with a number of standard clauses in the open credit and loan agreements.

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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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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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Wonhyung Park and Won-jin Kang. "Enforcement of Arbitration Agreement in the Dispute of Standby Letter of Credit." JOURNAL OF ARBITRATION STUDIES 19, no. 3 (December 2009): 161–78. http://dx.doi.org/10.16998/jas.2009.19.3.161.

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Bergami, Roberto. "UCP 600 rules – changing letter of credit business for international traders?" International Journal of Economics and Business Research 1, no. 2 (2009): 191. http://dx.doi.org/10.1504/ijebr.2009.024018.

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Subagiyo, Dwi Tatak. "KONTRAK JUAL BELI EKSPORT BARANG DENGAN PEMBAYARAN MELALUI LC (Letter of Credit)." Perspektif 5, no. 1 (January 27, 2000): 59. http://dx.doi.org/10.30742/perspektif.v5i1.233.

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Woo, Kwang-Myung, and Seong-Ho Kim. "A Study on the Utilization of Blockchain Based Letter of Credit Transaction." Korea International Trade Research Institute 17, no. 3 (June 30, 2021): 207–23. http://dx.doi.org/10.16980/jitc.17.3.202106.207.

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Tahalua, Imran. "PROSEDUR PEMBERIAN KREDIT MIKRO (KREASI) PADA PT PEGADAIAN (PERSERO) CABANG PELITA MAKASSAR." Jurnal Ilmu Manajemen Profitability 5, no. 1 (February 10, 2021): 1–10. http://dx.doi.org/10.26618/profitability.v5i1.4852.

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The objectivies of the research were to find out kind evaluate the procedure of providing Micro Credit program (KREASI) at PT Pegadaian (Persero) Branch Pelita Makassar. The research was analysed descriptive qualitatively, the data were collected through observations and interviewing. This research was conducted in April to May 2020. The result of the research showed that the procedure of providing Micro Credit program (KREASI) at PT Pegadaian (Persero) Branch Pelita Makassar has been conducted well, starting with the introduction and approach of potential borrowers, the application stage for micro credit, identifying data. After identifying the data by the credit department, it can be deemed done or denied. The borrower then interviewing and the credit department reviewed the debtor directly. Afterwords, the credit department of analysis then analyzing the borrower’s credit to be given. If it is approved, the loan agreement (SPK) will be issued by the credit department and then make a credit agreement. If it is not approved, the credit department will issue a denial letter and return it to a customer.

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Susilowati, Susilowati, and Gunarto Gunarto. "Legal Consequences Of Mortgage Right Imposition On Uncertified Land (Letter C) In Case The Grantor Is Passed Away." Jurnal Akta 5, no. 2 (May 16, 2018): 427. http://dx.doi.org/10.30659/akta.v5i2.3098.

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The purpose of this study is to know the implementation of the uncertified land as mortgage right (Letter C) and how the effect occurs in case that the grantor is passed away. This research was done with normative juridical approach. Technique of collecting legal material used literature study, while technique of data analysis was done with descriptive qualitative. The author found that UUHT provides an opportunity for owners of uncertified land rights to pledge their land rights in mortgage rights. It is mentioned in Article 10 Paragraph (2) of UUHT stating that if the object of mortgage rights in the form of land rights arising from the conversion of old rights that have been eligible to be registered but the registration has not been done, the granting of the mortgage shall be conducted simultaneously with the application of the right to (Letter C). On the other hand, the mortgagee has died and left the heirs, then there are several ways of settlement made by the bank, namely: If the credit has matured, then the credit is covered by credit insurance. If the credit has matured and the credit insurance has expired, it will be billed up to his heirs by approaching the family by offering loan interest rate relief. It is expected that the government through the National Land Agency can organize the process of land certification in a relatively short time so that it can support the economic activities of the community.Keywords: Mortgage Right; Uncertified Land; The Grantor Is Passed Away

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Moura, Amanda Ferreira de, Cíntia Maria de Araújo Pinho, Domingos Márcio Rodrigues Napolitano, Fellipe Silva Martins, and João Carlos Franco de Barros Fornari Junior. "Optimization of operational costs of Call centers employing classification techniques." Research, Society and Development 9, no. 11 (December 7, 2020): e86691110491. http://dx.doi.org/10.33448/rsd-v9i11.10491.

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The provision of credit to customers of banking chains through call center services has always been one of the resources that generate significant income for financial institutions, however, the service offers a cost, which is often above desirable to guarantee profitable contracting to Bank. Based on this, this work aims to evaluate the optimization of operational costs of call center, using classification techniques, through experimentation of supervised machine learning techniques to perform the classification task, in order to generate a predictive model, which offers a better performance in the operation of offering bank credit, to carry out an effective and productive action, conceiving greater savings for the company in identifying the public with greater adherence. For this, a database comprising 11,162 call records made from a bank offering its customers a letter of credit was employed. The results showed value correlations between variables, such as duration of the call, marital status, education level and even recurrence in adhering to subscribers' credit agreements. Through the application of the PCA to reduce dimensionality and classification models, such as AdaBoost, Gradient Boosting, SVM RBF, Naive Bayes, Random Forest, it was possible to perceive the consumer profile with good acquiescence for the investment proposal and a group of people with a high probability of not adhering to the letter of credit, so it was possible to outline an action directed to the public predisposed to the offer, minimizing expenses reaching greater profitability.

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Hooley, Richard. "FRAUD AND LETTERS OF CREDIT: IS THERE A NULLITY EXCEPTION?" Cambridge Law Journal 61, no. 2 (June 24, 2002): 239–94. http://dx.doi.org/10.1017/s000819730233160x.

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Despite the absence of fraud on the part of the beneficiary of a letter of credit, is the issuing or confirming bank entitled to refuse to pay the beneficiary on the ground that a tendered document is a “nullity” in the sense that it was forged by a third party or has been executed without the authority of the person by whom it purports to be issued?

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JIN, Hyung-Suk, Kwang-So PARK, and Dong-Suk CHUN. "An Exploratory Study on the Adoption of the Smart Contract Letter of Credit." INTERNATIONAL COMMERCE & LAW REVIEW 83 (August 31, 2019): 51–74. http://dx.doi.org/10.35980/krical.2019.08.83.51.

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Cheolsoo Kim and 이양기. "Exception Rule Relating to the Fraud and Forgery Documents in Letter of Credit." Journal of International Trade & Commerce 10, no. 2 (April 2014): 383–401. http://dx.doi.org/10.16980/jitc.10.2.201404.383.

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