• Korea Trade Review
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• v.41 no.5
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• pp.139-161
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• 2016

This study reviewed the perspective of the institutional application and trade finance settlement of Bank Payment Obligation(BPO). The BPO is a payment method based on trade data-matching which can be used for risk mitigation and payment. The BPO offers the institutional advantages such as an automated solution, an assurance of payment, an improved overall efficiency of business, risk mitigation for all parties, trade financing, etc. The BPO will be developed as a new trade payment method that meets the periodic paradigm thanks to many benefits and usefulness. The BPO will greatly improve the efficiency and stability of the trade payment system in that it is operated by a technology-enabled, databased mechanism that can be applied to a variety of trade transactions. So, the BPO is expected to evolve into an alternative instrument of the trade payment system. This paper is based on documentary research focusing on papers, websites of ICC and SWIFT, and international regulation and laws and so on.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.60
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• pp.141-175
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• 2013

The purpose of this study aims to the implications by the introduction of TSU/BPO system as a instrument of trade settlement. Jointly with financial messaging provider SWIFT, the ICC Banking Commission has developed the URBPO to take into account the legitimate expectations of all relevant sectors. Once the goods have been shipped, the seller's bank uploads the shipping and logistics data to the TSU to be checked against the baseline. URBPO is the first ever set of standards in supply chain finance that governs BPO transactions worldwide. BPO enables banks to reduce the risks associated with international trade to the benefit of both buyers and sellers. A BPO is an irrevocable undertaking given by an Obliger Bank to a Recipient Bank to pay a specified amount under the condition of a successful electronic matching of data or acceptance of mismatches. The BPO should be viewed as an exercise in collaboration between trading partners and their banks. Drawings upon global standards and incorporating the benefits offered by letters of credit, the new instrument has the potential to benefit all parties in a trade transaction-and bring trade settlement into the 21st century.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.73
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• pp.21-42
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• 2017

A BPO is an irrevocable undertaking given by an Obligor Bank acting on behalf of the buyer to a Recipient Bank acting on behalf of the seller to pay on satisfaction of certain specified conditions. There have been a Trade Service Utility(TSU), a Transaction Matching Application(TMA) and ISO 20022 TSMT messages that core electronic technical systems linked to the BPO. As a key usefulness of the BPO, it brings to market an alternative means of satisfying the risk mitigation, financing and information management needs of banks and businesses engaged in trade. That is, corporates can spread the risk among multiple Obligor Banks by requesting multiple BPOs for the same trade transaction not to exceed the value of the initial transaction. Since the BPO replaces the manual document checking process with the electronic matching of data, buyers and sellers will benefit from significantly increased accuracy and objectivity. By using BPO, buyers and sellers can become trusted counterparties by demonstrating reliability and giving sellers the assurance of being paid on time as per the payment terms and conditions agreed. When compared to L/C, the BPO requires submission of data only. This requires a change of practice of those accustomed to dealing with physical documentation. The beneficiary of a BPO is the Recipient Bank which is always the Seller's Bank. In the meantime, banks will need to agree between themselves that the URBPO 750 will be applied, modified or excluded. However, customers of banks will face low transactional costs due to a fully automated process and standardized data formats used in international trade documentation. There is no amendment and cancellation rules in the URBPO 750s, but only have Assignment of Proceeds rules. As a result, the BPO is likely to enable new business opportunities, lower costs, fast transaction process and strengthen key customer relationships.

• Korea Trade Review
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• v.42 no.5
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• pp.233-252
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• 2017

The fast changes of global financial environment in recent years increase the risk of trade settlement. This means are required to minimize risk of non payment and to maximize secure payment. Open Account trade accounts for 90% of global trade flows. The O/A system means that the goods, along with all the necessary documents, are shipped and delivered before payment is due, usually within a time frame from 30 to 90 days. Meanwhile, Korean small and medium-sized export enterprises are compelled to globalize their activities owing to limitation and competitiveness of domestic marketplace. To keep face with the global trade settlement system and to support globalization of small and medium-sized export firms, the BPO together with Supply Chain Finance will be solutions. The introduction of the BPO system will allow banks to broaden O/A offerings to their client base and due to secure safety, sellers could ship the goods without delay according to orders and buyers could settle promptly by payment undertaking of correspondent banks. Therefore, it is more effective for companies which have sustainable customers and stable transaction. This study take a look at the trend of the global payment systems and suggested limitation of existed payment in order to derive improvement measures of electronic payment for small and medium-sized export enterprises.

• International Commerce and Information Review
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• v.17 no.2
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• pp.3-18
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• 2015

This thesis examines the performance and improvement strategy of SWIFTNet TSU's BPO for computerization and suggests the following results: First, the URBPO should be legally complemented, and the SWIFT and banks need to keep improving the systems to meet trade parties' diverse needs. Second, the SWIFTNet TSU's BPO should have an institutionally unified sharing platform with security, stability and convenience. In other words, it is needed to develop services which meet e-payment paradigm and international and regional environments through continued analysis on market changes and flow. Third, in order for the SWIFTNet TSU BPO to evolve into a perfect global system, there should be an innovative payment solution which can meet all trade parties all over the world. For this, technology standardization for a worldwide e-trade payment system is essential. Lastly, based on the results derived from this study, an analysis framework with which more diverse and practical environmental variables can be analyzed should be developed.

• International Commerce and Information Review
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• v.18 no.3
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• pp.3-21
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• 2016

The thesis examines genealogical study of various aspects to overcome lots of problems which come by when we execute SWIFTNet TSU BPO. Practical implications regarding the innovation of electronic trade infrastructure are as follows. First, the shipping documents in the SWIFTNet TSU BPO are directly sent to an importer by an exporter after the baseline is confirmed. With this process itself, therefore, the bank cannot secure the account receivable. When initiating the SWIFTNet TSU BPO deal, it is needed to set regulations on the bank's account receivable security in the contract. Second, the SWIFTNet TSU BPO should also have an institutionally unified sharing platform with security, stability and convenience. It other words, it is needed to develop services which meet e-payment paradigm and international environments through continued analysis on market changes and flow. Third, the SWIFTNet TSU is useful in terms of promptness, reduction of risk in foreign exchange payment, cost reduction. Therefore, the SWIFT should be perfectly united and linked among the banks, importer and exporter to make the SWIFTNet TSU more convenient in countries around the world. Fourth, the SWIFT should be approached from the aspect of expansion of network and creation of a new business model through analysis on these problems with a worldwide perspective. At the same time, it is necessary to build a cooperative system to share information and promote comprehensive management for efficient operation.

• Archives of Pharmacal Research
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• v.19 no.4
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• pp.286-291
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• 1996

Phenolic compounds are prevalent as toxins or environmental pollutants, but they are also widely used as drugs for various purpose including anticancer agent. A novel biphenolic compound, bis(2-hydroxy-3-tert-butyl-5-methylphenyl)methane (GERI-BPO02-A) was isolated from the fermentation broth of Aspergillus fumigatus F93 previously, and it has revealed cytotoxicity against human solid tumor cells. Its effective doses that cause 50% inhibition of cell growth in vitro against non-small cell lung cancer cell A549, ovarian cancer cell SK-OV-3, skin cancer cell SK-MEL-2 and central nerve system cancer cell XF498 were 8.24, 10.60, 8.83, $9.85\mug/ml$ respectively. GERI-BPO02-A has also revealed cytotoxicity against P-glycoproteinexpressed human colon cancer cell HCT15 and its multidrug-resistant subline HCT15/CL02, and its cytotoxicity was not affected by P-glycoprotein. We have also tested cytotoxicities of structurally related compounds of GERI-BPO02-A such as diphenylmethane, 1,1-bis(3,4dimethylphenyl)ethane, 2,2-diphenylpropane, 2-benzylpyridine, 3-benzylpyridine, $4,4^I-di-tert-butylphenyl$, bibenzyl, $2,2^I-dimethylbibenzyl$, cis-stilbene, trans-stilbene, 3-tert-butyl-4-hydroxy-5-methylphenyisulfide, sulfadiazine and sulfisomidine for studying of structure and activity relationship, and from these data we could suppose that hydroxyl group of GERI-BPO02A conducted important role in its cytotoxicity.

• CELLMED
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• v.10 no.2
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• pp.15.1-15.9
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• 2020

Introduction: Buthūr Labaniyya (Acne vulgaris) is a multifactorial disorder of the pilosebaceous units characterized by non-inflammatory and inflammatory clinical lesions. Several Unani medications have been used for centuries to treat acne. Objectives: Evaluation of safety and efficacy of Tila-i Muhāsā in patients with acne vulgaris Materials and Methods: This clinical study was conducted in patients with acne vulgaris. Patients applied Tila-i Muhāsā or 5% Benzoyl Peroxide (BPO) once daily for 6 weeks. Assessment of efficacy was carried out by Global Acne Grading System (GAGS) and Patient Global Assessment (PGA) scores. In addition, overall severity of acne was evaluated on a 5-point Cook's acne grading scale using photographic standards. Assessment of safety was performed through adverse drug reactions, local dermal tolerability, vital signs, and routine laboratory investigations. Results: A total of 60 patients (30 in each group) completed 6 weeks of treatment. The mean percentage reduction in GAGS score at 6 weeks from baseline in Unani group (66.97%) and BPO group (59.09%) was statistically significant (P<0.0001). After 6 weeks of therapy, the mean percentage reduction in PGA score compared to baseline in Unani group (57.44%) and BPO group (50.23%) was statistically significant (P<0.0001). No serious adverse events were reported in both groups; however, mild adverse events occurred more frequently in BPO group (30%) compared to Unani group (10%). Conclusion: Tila-i Muhāsā was found to be effective and safe in the treatment of acne vulgaris. However, further clinical studies with larger sample size and longer duration of therapy need to be conducted.

• Nuclear Engineering and Technology
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• v.15 no.1
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• pp.1-10
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• 1983

By controlling both the means of grafting and the cast-solution components, no degradation and dimensional change of radiation-induced graft polymerization were found. The electric resistance of styrene-cellulose acetate grafts increases with increasing styrene content, while those for the hydrophilic monomers show no marked effect. In comparison with the grafted cellulose acetate membrane by simultaneous irradiation method, the appearance of the grafted membrane by post-polymerization method was not markedly changed irrespective of the percent of grafting and radiation dose of electron beam or ${\gamma}$-ray. The combination of crosslinking agents such as divinyl benzene (OB) or trimethyl propane triacrylate (TMPT) in the VP:St:BPO system leads to gradual increase of the percent of grafting. The activation energy for grafting of St:VP:BPO solution onto cellulose acetate membrane was determined to be about 21.8 Kcal/mole over the range of 55$^{\circ}$-8$0^{\circ}C$. The initial rate of grafting (in %/hr) is proportional to the power 0.76 for dose intensities.

• Advances in materials Research
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• v.3 no.3
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• pp.175-183
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• 2014

Natural rubber bound phenolic antioxidant, 2,6-di-tert-butyl-4-vinylphenol (2,6-DBVP), was prepared from natural rubber and 2,6-DBVP in both solution and melt state. The 2,6-DBVP had been synthesized from 3,5-di-tert-butyl-4-hydroxybenzaldehyde and methyltriphenylphosphonium iodide ($MePPh_3I$) by Wittig reaction ($0^{\circ}C$ for 2 hrs, $N_2$ atmosphere). The conditions for preparation of natural rubber bound 2,6-DBVP (NR-DBVP) were optimized for both solution state (1 phr BPO and 8 phr 2,6-DBVP at $70^{\circ}C$ for 2 hrs) and for melt state (1 phr BPO and 8 phr 2,6-DBVP at $70^{\circ}C$ for 10 mins, with rotor speed of 60 rpm). A thermoplastic vulcanizate was obtained using a compatibilizer, polypropylene modified with phenolic resin (PhHRJ-PP), in a closed mixer ($180^{\circ}C$ for 3 mins, rotor speed 60 rpm). The antioxidant properties of vulcanized NR-DBVP, using phenolic as the vulcanization system, were similar to NR with the conventional antioxidant BHT. In addition, the antioxidant, water leaching property of the thermoplastic vulcanizate of NR-DBVP/PP were good in comparison to a NR blend with BHT; the morphologies of these thermoplastic vulcanizates were similar.