• 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.

• Journal of Arbitration Studies
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• v.28 no.2
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• pp.249-275
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• 2018

Today's Internet environment is growing rapidly, and transactions based on it are also rapidly increasing. E-commerce allows merchants and consumers in different countries to easily trade goods across borders. However, the increase in international consumer transactions through the Internet is accompanied by an increase in disputes. International consumer transactions are characterized by a distinction among long distance, small sum, and different jurisdictions. International consumer transactions cannot be solved only by way of resolving disputes in past international transactions. The best way to resolve disputes between international carriers and consumers is through the Internet. In this regard, UNCITRAL has been preparing to enact legislation on ODR as a solution to international electronic trade disputes and, as a result, UNCITRAL adopted guidelines for operating the ODR procedure for building the ODR platform. The European Union has also increased its disputes in the European Union, which is active in the intra-regional market. Institutional improvements were made to solve this problem; therefore, the European Union (EU) has enacted the ODR Regulations for EU consumer disputes. Based on such, this study constructed the ODR platform, which is used as a way to resolve consumer disputes in the regional market.

• Korea Trade Review
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• v.41 no.5
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• pp.285-304
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• 2016

e-Commerce in Small and Medium-sized Enterprises(SMEs) provides a platform for fair competition between SMEs and large enterprises, and brings economic benefits to SMEs. Thus in the recent years, the e-Commerce in SMEs developed rapidly. However, the overall proportion of e-Commerce in SMEs in China remains low, and many SMEs' decision-makers tend to feel that their business is relatively weak in terms of information construction of scale and financial management, thus they keep the 'wait and see' attitude about the e-Commerce development decisions. Therefore, SMEs are facing three puzzles about e-Commerce application. First, if the companies need to implement e-Commerce, what are the e-Commerce adoption decision factors. Second, what are the successful implementation factors of e-Commerce. And how about the relationship between them. The third is how to measure the implementation effect of e-Commerce. What is the performance evaluation factors of e-Commerce. In this paper, the theoretical and empirical exploration and research are conducted towards these SMEs. Considering the actual situation of SMEs, this paper builds a theoretical model, then puts forward relevant hypothesis. This paper analyzes present influencing factors based on enormous research papers, and finally discovers the critical successful factors in doing business with e-Commerce in SMEs by conducting Structural Equation Modeling. Five critical factors are verified by cases of enterprise by demonstration study. Lastly, we can draw a conclusion that the innovation ability of leaders, the IT support of leaders and e-Commerce strategies are the success factors of e-Commerce for Chinese SMEs.

• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.77-85
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• 2018

Purpose - The purpose of this study is to subdivide trade transaction-centered structure in a logistics/distribution industry system to apply blockchain, to establish and resolve with which types of technology, and to provide policy direction of government institution and technology to apply blockchain in this kind of industry. Research design, data, and methodology - This study was conducted with previous researches centered on cases applied in various industry sectors on the basis of blockchain technology. Results - General fields of blockchain application include digital contents distribution, IoT platform, e-Commerce, real-estate transaction, decentralized app. development(storage), certification service, smart contract, P2P network infrastructure, publication/storage of public documents, smart voting, money exchange, payment/settlement, banking security platform, actual asset storage, stock transaction and crowd funding. Blockchain is being applied in various fields home and abroad and its application cases can be explained in the banking industry, public sector, e-Commerce, medical industry, distribution and supply chain management, copyright protection. As examined in the blockchain application cases, it is expected to establish blockchain that can secure safety through distributed ledger in trade transaction because blockchain is established and applied in various sectors of industries home and abroad. Parties concerned of trade transaction can secure visibility even in interrupted specific section when they provide it as a base for distributed ledger application in trade and establish trade transaction model by applying blockchain. In case of interrupted specific section by using distributed ledger, blockchain model of trade transaction needs to be formed to make it possible for parties concerned involved in trade transaction to secure visibility and real-time tracking. Additionally, management should be possible from the time of contract until payment, freight transfer to buyers through land, air and maritime transportation. Conclusions - In order to boost blockchain-based logistics/distribution industry, the government, institutionally, needs to back up adding legal plan of shipping, logistics and distribution, reviewing standardization of electronic switching system and coming up with blockchain-based industrial road maps. In addition, the government, technologically, has to support R&D for integration with other high technology, standardization of distribution industry's blockchain technology and manpower training to expand technology development.

• International Commerce and Information Review
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• v.7 no.4
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• pp.23-36
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• 2005

With the rapid development of the Internet, e-business has been entering a new phase. However, there're still some problems to be settled and needs for breakthrough. The paper proposes an innovative approach to e-business models with the aim to resolve the problems. The paper reviews the exiting e-commerce models and points out some of the common weaknesses of the models, and presents the "Business Blogging e-Hub"model for e-business. With the characteristics of all-sided information, multi-dimensional interactivity and trans-model e-commerce platform, the proposed model is created and derived from the integration of the "classical"e-commerce models as B2B, B2C and C2C with the technology and essence of blogging, and is thus sure to meet rapidly changing business needs.

• 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.

• 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.

• International Commerce and Information Review
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• v.6 no.3
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• pp.321-349
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• 2004

Bolero Project initially had the support of TEDIS, and now is a joint-venture between SWIFT and IT Club. After the successful testing of an original pilot project, The Bolero Association was formed in 1995 by a group of interested cross industry companies. A Bolero Bill of Lading replicates the basic functions of a paper-based bill of lading via title registry service and core messaging platform. A Bolero Bill of Lading consists of BBL Text and Title Registry Record. A Tittle Registry Record carries out the function of a document of title and a BBL may be transferred by changing the roles of users in this Title Registry Record. TEDI Project had been conducted from the April 1999 to the September 2000 on the basis of the EDEN Project(Dec.97- Mar. 1999) and International Trade Guidances Project (Nov. 1998-Mar. 1999). Through TEDI Project, the RSP Model was introduced as e-trade solution like Bolero's Solution. The RSP Model Solution will be furnished through TC (Trade Chain) Server and RSP(Repository Service Provider) Server. The purpose of this paper is to study the problems and solutions in the pilot test of electronic Bill of Lading using TEDI's RSP and to promote the introduction of electronic Bill of Lading.

• 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.

• Journal of Environmental Policy
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• v.8 no.4
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• pp.95-124
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• 2009

This study aims to introduce greenhouse gas emission trading in Korea as a highly cost-effective mechanism for controlling emissions. The Basic Act on Low-Carbon Green Growth will cover methods of emissions allocation, national inventory, and trading systems (i.e. emissions trading platforms, national registry,and clearing and settlement platforms). The Korean emission scheme will be based on the Korean Climate Change Act proposed by the National Assembly and Government with a cap-and-trade scheme. The national allowances will be allocated by the hybrid system. To establish the national inventory, TRADEMARKS (Telemetering System) and emissions factors are effective for greenhouse gas emissions measurement. It will likewise be effective for the national registry to be implemented via a Korean Integrated Registry, the emissions trading platform via the KRX (Korean Exchange), and the clearing and settlement platform via the KSD (Korean Securities Depository). In other words, the KRX will manage product development and marketing for Korean Carbon Financial Instruments (including commodities, futures, and options contracts) listed and admitted to trading on the KRX. All emissions trades will be standardized and cleared by the KSD.