• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.13
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• pp.605-630
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• 2000

A letter of credit plays very important roles in rational and smooth international trade. But the parties to letter of credit transactions can bring about many troubles and losses in such transactions because of ignorance and limits of their rights and responsibilities. The purpose of this study is to analyze a legal position of confirming bank and limits of responsibilities of the confirming bank on the UCP and authoritative decisions by ICC. I attempts to analyze a legal position of confirming bank and limits of responsibilities between the confirming bank and the contract parties at the documentary credit transactions on the basis of theoretical, lawful, and international transactions.

• The Journal of the Convergence on Culture Technology
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• v.9 no.5
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• pp.493-499
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• 2023

Trade credit refers to a transaction where a product supplier allows an distributor to defer payment for a certain period of time for the purchase cost of the products. This practice is generally permitted as a means of differentiation between competing companies. Such trade credit is commonly granted based on the volume of transactions, aiming to increase customer orders. From the perspective of the distributor, trade credit allows for a deferred payment period for the purchase cost, leading to cost savings in inventory investment. These cost savings in inventory investment can be a factor in reducing selling prices with the aim of increasing customer demand. In this study, we analyze a model that determines the optimal selling price and order quantity from the perspective of the distributor, assuming that the supplier allows a deferred payment period dependent on the transaction volume. We assume that the final customer's annual demand exhibits an exponential decrease with respect to the distributor's selling price, using a constant price elasticity function. To analyze the problem, we assume that the product deteriorates at a constant rate over time and aim to establish an inventory model for the intermediate distributor. We also want to analyze the impact of deterioration on the inventory policies of the intermediate distributor.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.809-820
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• 2021

The study aimed to investigate the impact of sectoral bank credit facilities provided by commercial banks on the non-oil economic growth in Saudi Arabia. Bank credit facilities are given for nine economic sectors: agriculture, manufacturing, mining, electricity and water, health services, construction, wholesale and retail trade, transportation and communications, services, and finance sector. The study employs annual data from 1970 to 2019. The study employs the Autoregressive Distributed Lag (ARDL) approach to identify the long-run and short-run dynamics relationships among the variables. The main results reveal that the overall impact of total bank credit has a significant and positive effect on non-oil economic growth in KSA. The results revealed that the effect of bank credit on the non-oil GDP growth in the short and long run was uneven. The study finds that all sectors have a positive and significant impact in the long run, except for the agricultural and mining sectors. Likewise, all sectors have a positive and significant impact in the short run, except for construction, finance, services, and transportation & communications. As a result, bank credit facilities in different sectors have played an important role in enhancing the non-oil economic growth in the KSA.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.13
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• pp.631-655
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• 2000

This article is focused on the review of the judgement standard for compliance of the documents in international standard banking practice. Since the establishment of Uniform Customs and Practice for Documentary Credits, The practices of the Credit transactions has been formed and developed with the rapidly changing progress of the international trade environment. but though the international standard banking practice have meaning to suggest a new examination standard, in practice, there are some problems on the judgement of the compliance of the documents. Therefore, for the useful judgement standard for compliance of the documents, the range of the standard should become concrete and simple so that all the related parties can forecast. and the opinions and interpretations published by ICC Banking Committee are recommended to be used, systematized and activated. and also with the change of the trade environment, the changed standard practice could be published annually for the useful use. and it will be necessary to consider to publish the publications in the form of the "White Book" Last, it is necessary to accept the changes by the needs of the times as the international standard banking practice promptly and analysis accurately its problems for the times of the electronic commerce, so that Credit systems should be settled and developed continuously as the useful means of the settlement of the proceeds conquering of the characteristics originated from the international transactions between the parties concerned.

• Journal of Korea Trade
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• v.23 no.4
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• pp.1-16
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• 2019

Purpose - This research empirically proves that global shipbuilding industry leadership has moved to China from Korea. Design/Methodology - Competitiveness is measured by AHP for the weights of comprehensive competitiveness, which is the output mixture of three attributive factors: shipbuilding technology, shipbuilding contract price, and export credit. Findings - China is far ahead of Korea for standard vessels such as bulkers and containerships with competitiveness weights of 0.762 and 0.612, respectively, against 0.238 and 0.388 of Korea. Korea is maintaining its competitiveness only in LNG carriers (174k CBM) with a competitiveness weight 0.621. China and Korea have similar competitiveness for chemical carriers, complex vessels with a small hull size. The sources of Chinese competitiveness are shipbuilding contract price and export credit. With the majority share of standard vessel types in the world fleet, China will hold a bigger market share than Korea in the global shipbuilding industry in the forthcoming years. Implications - The swing factors of market power are shipbuilding technology and contract price. If China fails to further develop shipbuilding technology for shipowners worried about the reliability of the Chinese-built vessels, shipowners may swing back to Korea. The rising Chinese labor cost will expedite this swing in the forthcoming competition. Originality/value - To the best of the author's knowledge, this is the first paper that quantitatively examines the competitiveness of shipbuilding between China and Korea by comparing attributive factors for competitiveness.

• The Journal of Information Technology
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• v.4 no.1
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• pp.55-69
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• 2001

TradeCard is a B2B (business-to-business) e-commerce infrastructure that enables buyers and sellers to conduct and settle international trade transactions securely over the Internet. and objective of TradeCard is to provide a secure, reliable, cost-effective and user-friendly solution for conducting and settling international trade transactions. This paper analyzes the reviews of TradeCard by Electronic Message and the various problems which come to application of TradeCard, with particular attention to existing international frameworks for payment systems based on Documentary Credit.

• 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.6 no.2
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• pp.243-263
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• 2004

Recently, International electronic commerce has been rapidly increasing. Over the past decade, e-commerce on the business foundation of the Internet compound has entered extensive areas of international trade and social activity. This paper focuses on the system establishment of customs duties of import goods in Global e-Commerce. Today, USA, EU and some major countries, International Organization insisted to Tariff-free woe in customs duty. This study also will discuss the effect of imposition of import duties. In order to impose customs duties, it needs to establish a system scheme, especially, because international payment of BtoC Commerce occur by the Credit Card. This study deals with Customs duties of import goods in Global e-Commerce.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.22
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• pp.71-106
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• 2004

Todays, L/C transactions in international trade are governed by UCP 500 and eUCP. But UCP 500 and eUCP do not cover all legal problem of L/C transactions. Therefore choice of laws in international L/C transactions are occurred. U.S.A. has an enacted law (UCC ${\S}5-Letter$ of Credit) to govern L/C transaction. But other countries has no special enacted law to govern L/C transaction. The reason is that there are difference between legal attitude of U.S.A. and other countries. American law considers L/C as a special device made by merchants. Therefore U.S.A. applies UCC ${\S}5-Letter$ of Credit instead of general contract law. UCC ${\S}5-Letter$ of Credit includes provisions of warranties, remedies, and so on that UCP 500 and eUCP do not include. But the liabilities of the Issuing Bank on the wrongful dishonor in L/C transaction is very important legal problem. First, this study is to justify concepts of honor and dishonor, and sufficient conditions for dishonor of the issuing bank. in UCC. Second, this study is to examine closely the liabilities of the Issuing Bank on the wrongful dishonor in L/C transaction. Third, this study is suggest distinctive features on the Liabilities to wrongful dishonor of the issuing bank in UCC ${\S}5-Letter$ of Credit and our trader's matters to be attended to L/C transactions governed by UCC.

• International Journal of Advanced Culture Technology
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• v.8 no.3
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• pp.300-306
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• 2020

This study analyzes the distributor's inventory model in a two-stage supply chain consisting of the supplier, the distributor and the end customer. The supplier will allow a credit period before the distributor settles the account with him in order to stimulate the demand for the product he produces. It is also assumed that the distributor pays the shipping cost for the order and hence, the distributor's ordering cost consists of a fixed ordering cost and the shipping cost that depend on the order quantity. The availability of the delay in payments from the supplier enables discount of the distributor's selling price from a wider range of the price option in anticipation of increased customer's demand. As a result, the availability of a credit transaction leads to an increase in inventory levels. On the other hand, in the case of deteriorating products in which the utility of the product perish over time, the deterioration rate with time plays a role in reducing inventory levels. In this regard, we analyze the effect of the length of the credit period and the degree of product deterioration on the distributor's inventory level. For the analysis, we formulate the distributor's annual net profit and analyze the effect of the length of credit period and deterioration rate of the product on inventory policy numerically.