The Paperless Letter of Credit and Related Documents of Title

A normative analysis of paperless letters of credit that will categorize the various transactions and delineate the boundaries and relative standing of the competing sets of rules is now appropriate. The analysis will suggest when an official rule is needed and what its character should be

New Rules for Letters of Credit: Time to Update the UCP 600

This article addresses the need for a revision of the UCP 600, international rules governing letters of credit. It identifies key articles that need amendments and is the first legal article to draft new provisions for the potential ?UCP 700?. The significance of updating the rules can be pinpointed as increasing bank operation efficiency and faster completion of international trade transactions

What Bulgarian Banks offer via Internet: an Overview (v2)

The new information technologies adoption and e-commerce emergence change the role of financial intermediaries in new E-conomy. During the last years, the bank started an expansion to the web – they offer broad range of traditional bank products and services via Internet. The remote banking become one of the main channels for bank services distribution. The Internet expansion of the Bulgarian banks is at its beginning. The showed results are based on the Internet research, which has aimed to describe actual picture of Bulgarian banks present in Internet.Banks, Internet, Online services, Online banking, E-commerce, Bulgaria

United States Banking Environment

After reading this chapter you will be able to: - Understand the U.S. banking system - Appreciate the role of the Federal Reserve - Review the important legislation and the impact of deregulation - Evaluate the account analysis statement - Consider some practical ideas for improving a company's use of cash management services - Understand UCC rules pertaining to banking service

Garment Exporter View on Letter of Credit

Letter of credit is as ‘documentary credit'. This can offer a guarantee to the seller that they will be paid, and the buyer can be sure that no payment will be made until they receive the goods. The main advantage of using a letter of credit is that it can give security to both the seller and the buyer. A letter of Credit is the Buyer's Banker's promise to the Bank of the Seller / Exporter that the bank will honor the Invoice presented by the Exporter on due date and make payment, provided that the Seller/Exporter has complied with all the requirements and conditions set by the Importer mentioned in letter of credit or the Buyer's Purchase Order and produced documentary evidence to prove compliance, along with the necessary shipment related documentation

International Cash Management

After reading this chapter you will be able to: - Identify the complexities of international cash management - Evaluate the risks associated with cross-border transactions - Assess the major tools and organizational structures used to improve global cash flows - Understand how developments in Europe impact liquidity management - Review tips for treasurers with emerging international business