• The Journal of Information Technology
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• v.8 no.3
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• pp.159-176
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• 2005

The Purpose of this Article is to analyze the special settlement and electronic settlement system in the international trade. First, Factoring is a fast, easy and flexible way to improve a company's cash flow and generate working capital for the company. Factoring can be short-term or part of an ongoing financing program. New companies can benefit as well, since there is no requirement for a long-term credit history. Second, Forfaiting is a method of trade financing that allows exporters to obtain cash and be free of all risks by selling their medium term receivables on a 'without recourse' basis. Forfaiting can be an alternative to export credit or insurance cover, especially for those transactions in which the export credit agency is not open to a particular country and/or bank. Third, The Bolero System is jointly financed by SWIFT(Society for World International Financial Telecommunications) which handles most of the electronic funds transfer for banks, and the Through Transport Mutual Assurance Association(the TT Club), a mutual insurance association most of whose members are drawn from the Multimodal transport industry or transport intermediaries. Fourth, TradeCard is a payment and settlement system that is an alternative to letters of crdeit. That is, TradeCard is a business-to-business e-commerce infrastructure that enables buyers and sellers to conduct and settle international trade transactions securely over the Internet.

• Management & Information Systems Review
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• v.14
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• pp.151-180
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• 2004

Owing to the digital revolution, Internet Commerce and Electronic commerce, revolutionize the way of doing business and making payment. The entrance of the Internet has a prominent for spread of Electronic Commerce and those phenomenons will result in paperless trading and cashless trade. By virtue of Internet, an increasing share of business transactions occurs online. Electronic payment is essential for the smooth progress of the electronic commerce as electronic payment plays the important role in the electronic commerce, that is, the value transfer restyling from the electronic commerce. Traditionally international settlement systems such as letters of credits, remittance and documentary collections operated as important and poplar method of payment, Now, information technology has made it possible to pay for the sale of goods and services over the internet. In international trade, there are service providers (bolero, TradeCard, BeXcom) to settle payment electronically through the Internet. The purpose of this study is to Conduct comparative analysis with approach manner functional respect systematic respect, role. It is shown which the Electronic payment system is better. In this study, the author attempts to find the problems is (bolero, TradeCard, BeXcom) and solutions in switching from the documentary payment system to the electronic one. This conclusion of this study can be summarized as followings. In resoect of the law, bolero should seek to prevert the users from being treated unfairly due to multilateral agreement on Rulebook. TradeCard, BeXcom do not have the proper law that users are governed. so far as the practice problems concerned, stability of computer's operation and security of message interchange should be warranted and improved continuously. Through the standardization of the electronic document and the development of software, the examination of the shipping occuments must be done automatically. Bolero should induce more banks to take part in Bolero, and make the carrier the cost and time in managing the traditional document which will be used for the time being. In respect of information technology and security, to deduce the risk in the electronic settlement system and positively uses the global authentication guideline(Identrus).

• The Journal of Information Technology
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• v.8 no.1
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• pp.27-41
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• 2005

Electronic Trade of increasing is the use of the Internet makes it possible for business to expand their markets and render services. However, it also brought up many problems caused by various issues. The problems encompass consumer protection and dispute settlement between the disputed parties. Online ADR have some advantage that are convenience, low-cost, legitimate to online users and avoids jurisdiction issues and some disadvantages that are loss of the human factor, lack of accessibility, lack of confidentiality and security and difficulty of enforcing arbitral agreements. This purpose of this paper is to reviews the types of Online ADR, as the dispute settlement way in Electronic Trade. This study points out the task that korea has to promote the Online ADR for more effective and efficient dispute settlements.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.13
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• pp.933-977
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• 2000

BOLERO project and TradeCard System are attracted public attention as new settlement method that is able to substitute for documentary letter of credit. BOLERO is the business processes and methods, together with the digital information system, which are provided by Bolero International for communicating Messages and Documents and facilitating business transactions. TradeCard aim to make international business-to-business e-Commerce easy, fast, inexpensive and secure while innovating current documentary compliance and financial settlement mechanisms. The main purpose of this paper is to search the possibility of paperless trade. Since, this paper examine the international legal feasibility of these systems and compare the strength and weakness.

• International Commerce and Information Review
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• v.5 no.1
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• pp.203-222
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• 2003

Owing to the digital revolution, Internet Commerce and Electronic Commerce is having a profound influence on the global trade and internal commerce, revolutionizing the way of doing business and making payment. The entrance of the Internet has a prominent for spread of Electronic Commerce and those phenomenons will result in paperless trading and cashless trade By virtue of Internet, an increasing share of business transactions occurs online. Electronic payment is essential for the smooth progress of the electronic commerce as electronic payment plays the important role in the electronic commerce. Traditionally international settlement systems such as letters of credits, remittance and documentary collections operated as an important and popular method of payment. Now, information technology has made it possible to pay for the sale of goods and services over the internet. In international trade, there are service providers (Bolero, TradeCard, @Globaltrade) to settle payment electronically through the Internet.

• The Journal of Information Technology
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• v.5 no.3
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• pp.197-214
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• 2002

Electronic Commerce has already existed for over 20 years. The Bolero project initially had the support of TEDIS, and now is jointly financed by SWIFT(Society for World International Financial Telecommunications) which handles most of the electronic funds transfer for banks, and the Through Transport Mutual Assurance Association(the TT Club), a mutual insurance association most of whose members are drawn from the Multimodal transport industry or transport intermediaries. Bolero's mission is to provide guaranteed and secure delivery, in electronic form, of trade documentation, globally, based on a binding legal environment and common procedures, Bolero will also provide a platform for provision of neutral cross-industry services. TradeCard is a payment and settlement system that is an alternative to letters of credit. That is, TradeCard is a business-to-business e-commerce infrastructure that enables buyers and sellers to conduct and settle international trade transactions securely over the Internet. Paperless, payment-guaranteed international trade transactions - which eliminate the traditional letters of credit with electronic certifications - are widely considered the most difficult B2B transactions to conduct.

• The Journal of Society for e-Business Studies
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• v.7 no.1
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• pp.187-206
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• 2002

The purpose of this study is to review the process for the trade settlement system between all parties involved in the commercial transaction under SURF System. SURF application is the latest value added service from bolero.net and a fully automated documentary settlement system. It extends bolero.net's capability to enable trade transactions by providing a delivery versus payment system. It has been designed as a standard, shared, infrastructure component for handling trade settlement within an electronic environment to keep step with the operation of electronic Bolero bill of Lading. It exploits the services provided by the Bolero Core Messaging Platform - secure, guaranteed transactions based on boleroXML standards to provide document compliance services with optional bank guarantees. So, SURF system can automatically check all commonly used trade documents such as commercial invoices, bills of lading and certificates of weight and analysis, etc and supports a full range of settlement options including Open Account, Documentary Collections, Documentary Credit. 58 have key features as follows, ① automatic document compliance checking, ② integrated with the Title Registry, ③ supports various forms of vender financing, ④ governed by a set of legally binding rules, ⑤ fully prepared for Straight-Through-Processing, ⑥ Enabled compliance with UCP 500.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.59
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• pp.137-157
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• 2013

The Electronic Trade Finance not only has with the trait which is simple procedures, low cost but also easier access to using statistics compare to formerly paper based system. In Korea, all of trade finance system will be changed to electronic base by February 2014. The purpose of this research finds the using status and problems of the electronic local L/C and electronic purchase certificate, and suggests several improvements. First, the whole trade finance system should improve in terms of simple procedures, especially small and medium companies can use the system sufficient maximum limit. Second, the organizers, KTNET, KITA etc, need to the new electronic trade finance system promote to customers and training program for early settlement. It also has to manage at an unified system between IT and tex authorities. Third, small and medium size companies still think the charge for using high, so it need to make a resonable charge for using the electronic system to persuasive extent reasonable about it.

• International Commerce and Information Review
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• v.9 no.1
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• pp.169-186
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• 2007

The purpose of this study analyzes laying stress on Japan example that background of electronic issue of international meritime insurance policy is what, and is marched in some degree present. and this study presented what hereafter subject of electronic insurance plice is. The this paper is to study the current situations of trade financial EDI in Japan and problems in application of marine insurance contracts. The subject of electronic marine policy issue is as following in trade financing EDI. (1) application of electronic document in claim demand. (2) standardization of various documents and insurance plice data. (3) insurance compensation document that become Jeonjahwa in insurance accident settlement. (4) maritime Insurance policy agreement's establishment. (5) when is monopolized to third party, realization of electronic maritime insurance policy offer.

• International Journal of Computer Science & Network Security
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• v.24 no.3
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• pp.29-37
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• 2024

Resorting to electronic arbitration to resolve disputes in international trade contracts is the most important reflection of technological progress on the reality of international commercial arbitration. Electronic is a modern image of traditional arbitration, and this type of arbitration provides many advantages that are not provided by any legal system for resolving disputes, including speed, effectiveness and lower costs. What will this development produce? Through technical progress in the means of communication, it has become conceivable that international trade dealers agree to arbitration via electronic means of communication, followed by the completion of the arbitration process via the Internet, leading to the issuance of the electronic arbitration award in an electronic manner as well.