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Journal articles on the topic 'Letter of Credit'
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1
Efimova, L. G. "The Concept and Legal Nature of Transferable Letter of Credit." Lex Russica, no. 2 (February 1, 2019): 48–56. http://dx.doi.org/10.17803/1729-5920.2019.147.2.048-056.
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The article analyzes the concept and legal nature of a transferable letter of credit in the comparative legal aspect. The author compares the legal structure of a transferable letter of credit under the civil code with the legal regulation of a transferable letter of credit under the Uniform Customs and Practice for Documentary Credits (UCP) (2007 edition, ICC publication No. 600).Under the law, transferable letters of credit mean such letters of credit that the payer (applicant) and/or issuing Bank allowed to transfer to the second beneficiaries. The transfer of the letter of credit is executed in two transactions. First, the first beneficiary shall unilaterally declare his will addressed to the transferring Bank where the first beneficiary shall propose to the Bank to change the range of possible beneficiaries under the letter of credit. The will of the first beneficiary should be qualified as a unilateral transaction on behalf of the first beneficiary concerning the full or partial exemption of the issuing Bank (confirming Bank) from the original offer (opening of the letter of credit), if the transfer of the letter of credit to the second beneficiaries is made. Second, a transferring Bank makes a unilateral transaction to transfer the letter of credit to the second beneficiaries. This transaction is made by the transferring Bank on behalf, at the expense and in the interests of the issuing Bank (confirming Bank) on the basis of the authority granted under terms of the letter of credit. A unilateral transaction of the transferring Bank concerning the transfer of a letter of credit is an offer made on behalf of the issuing Bank (confirming Bank), and brought to the attention of the second beneficiaries (beneficiary) with a proposal to conclude a contract for the payment (acceptance and payment of a bill of exchange) against the relevant financial and/or commercial documents.At the same time, the transfer of the letter of credit leads to a change in the original offer to open a letter of credit to the first beneficiary in terms of a range of possible future acceptors.
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Burkovskaya, A., and V. Pavlenko. "Use of Letter of Credit Form of Settlements in Ukraine." Modern Economics 24, no. 1 (December 16, 2020): 39–44. http://dx.doi.org/10.31521/modecon.v24(2020)-06.
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Annotation. Introduction. The current state of Ukraine’s development provides broad conditions for enterprises in world trade, so the question arises how to minimize the risks of trade operations. The presence of risks and an unstable external environment can lead to non-fulfillment of obligations by the parties to the contracts. Therefore, the study of the letter of credit system for services is relevant because it will be able to ensure minimal cost risk. Purpose. The purpose of this article is to study the letter of credit as one of the reliable mechanisms for payment of foreign trade operations, and its use in Ukraine. Results. The article examines and investigates the system of letter of credit and its use in Ukraine. The main regulations on the regulation of letter of credit calculations are considered. The main advantages of the letters of credit are defined. The main stages of letter of credit conclusion are systematized. The impact of scientific and technological progress on the simplification of letters of credit is considered. Systematized main types of letters of credit and their classification. Conclusions. Using a letter of credit as a method of payment for goods and services will minimize the risks of both the seller and the buyer. In turn, the reform of the National Bank of Ukraine will allow the letter of credit to gain popularity and possibly become the main means of payment for foreign trade agreements. Keywords: letter of credit; form of calculations; obligation of the parties; types of letters of credit; basic regulations.
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Putra, I. Wayan Dodi M., Ni Luh Made Mahendrawati, and Ni Komang A. Styawati. "Tindak Pidana di Bidang Perbankan dalam Transaksi Perdagangan Luar Negeri dengan Menggunakan Letter Of Credit." Jurnal Konstruksi Hukum 3, no. 2 (March 29, 2022): 455–59. http://dx.doi.org/10.55637/jkh.3.2.4895.455-459.
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Letter of Credit/LC is an interbank payment transaction instrument whose legal arrangements have been established both nationally and internationally. In this study, the writer wants to know how the regulation of criminal acts in the banking sector against foreign transactions through letters of credit, and the criminal sanctions that make the issuing bank a victim in foreign trade transactions using the letter of credit , uses this type of normative research. sources of primary, secondary, and tertiary rules. This thesis uses the type of search, recording and documentation Analysis of legal sources is carried out systematically using legal arguments and the results are presented descriptively. The conclusion is that the regulation of foreign trade crimes through Letter of Credit is regulated in UPC-DC600 and PP No. 1/1982 as well as Law No. 10/1998 on banking. Sanctions for violating foreign transactions through a Letter of Credit can be subject to criminal sanctions and fines in accordance with the provisions of Article 49 (1) of Law No. 10/1998.
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Al amaren, Emad Mohammad, Mohd Zakhiri bin Md Nor, and Che Thalbi Bt Md Ismail. "RISKS AND REMEDY IN ISLAMIC AND CONVENTIONAL LETTER OF CREDIT: JORDANIAN PRACTICES." International Journal of Islamic Economics 2, no. 01 (July 11, 2020): 54. http://dx.doi.org/10.32332/ijie.v2i01.2065.
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International trade and the movement of goods between parties living in different countries have spread in the last century and have become one of the fundamental features of the current trade. This proliferation of international contracts, of course, has its own problems. The problems of external Islamic or conventional letters of credit affect export, since letters of credit are considered a valuable tool used in financing foreign trade operations. Therefore, the problems faced by exporters in letter of credit reflect on and impact trade in general. Thus, the fewer the credit problems are, the more active foreign trade especially export will be. But if problems are relatively large, exports will contract. This study attempts to identify the problems of external and internal letters of credit facing the Jordanian traders and Jordanian Islamic and conventional banks, and to analyze them in an organized scientific manner, then proposing the appropriate recommendations to address these problems.
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Lubis, Zaned Zihan Sosa Elsera, M. Nur, and Sanusi Sanusi. "Asas Keseimbangan dalam Perjanjian Penerbitan Letter of Credit Sebagai Transaksi Bisnis Internasional." Jurnal Magister Hukum Udayana (Udayana Master Law Journal) 8, no. 2 (July 31, 2019): 261. http://dx.doi.org/10.24843/jmhu.2019.v08.i02.p09.
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Letter of Credit is one of the payment instruments in international business transactions. Based on the agreement to issue a Letter of Credit, the Letter of Credit is issued by the issuing bank at the request of the applicant as the importer. The Letter of Credit agreement that is used by banks, in general, is a standard agreement that the clause has been prepared in advance by the bank. The imbalance in the standard agreement can be used by parties whose bargaining position is stronger to abuse the situation. The purpose of this study is to analyze national law and international law related to the issuance of the Letter of Credit. The next objective is to analyze the application of the principle of balance in the agreement to issue the Letter of Credit as an international business transaction. The type of research used is normative legal research using a statutory approach, the sources of legal materials used based on library research are analyzed qualitatively. The results of the study revealed that whether the principle of balance in the Letter of Credit issuance agreement had been realized in the practice of international business transactions.
Letter of Credit adalah salah satu instrumen pembayaran dalam transaksi bisnis internasional. Atas dasar perjanjian penerbitan Letter of Credit maka Letter of Credit diterbitkan oleh bank penerbit atas permintaan pemohon selaku importir. Perjanjian penerbitan Letter of Credit yang dipakai perbankan pada umumnya adalah perjanjian baku yang klausulanya telah disusun sebelumnya oleh bank. Ketidakseimbangan dalam perjanjian baku dapat dimanfaatkan oleh pihak yang bargaining position-nya lebih kuat untuk melakukan penyalahgunaan keadaan. Tujuan penelitian ini adalah untuk menganalisis hukum nasional dan hukum internasional yang terkait dengan penerbitan Letter of Credit. Tujuan selanjutnya adalah untuk menganalisis penerapan asas keseimbangan dalam perjanjian penerbitan Letter of Credit sebagai transaksi bisnis internasional. Jenis penelitian yang digunakan adalah penelitian hukum normatif dengan memakai pendekatan perundang-undangan, sumber bahan hukum yang digunakan berdasarkan penelitian kepustakaan dianalisis secara kualitatif. Hasil penelitian mengungkapkan bahwa apakah asas keseimbangan dalam perjanjian penerbitan Letter of Credit telah terwujud dalam praktik transaksi bisnis internasional.
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Karbela, Karbela. "PENYALAHGUNAAN LETTER OF CREDIT DALAM PERDAGANGAN EKSPOR IMPOR UNTUK MELAKUKAN TRADE BASED MONEY LAUNDERING STUDI TERHADAP KASUS L/C FIKTIF BNI." Jurnal Hukum & Pembangunan 39, no. 2 (June 3, 2009): 145. http://dx.doi.org/10.21143/jhp.vol39.no2.207.
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AbstrakThis article gives elaboration by analysis onfake letter of credit issuance atEN!. The letter of credit in false issued is categorized as trade based moneylaundering. The false is done by mark up method for export-import invoicesas conditioned document of letter of credit why resulted increased goodsprice become more expensive. More of misuse of letter of credit that is aimedto money laundering practice known as predicate offences by countelfeitdocuments like truly international business transaction has been executed.The author does analysis to prove the using of false letter of credit washappened in EN!. The author opinion in EN! case can be regarded as tradebased money laundering on letter of credit misused by made false of leller ofcredit documents and more the export import transaction itself
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Kumar, B. V. "Letter of Credit Fraud." Journal of Financial Crime 7, no. 3 (January 2000): 251–54. http://dx.doi.org/10.1108/eb025944.
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Puneri, Atharyanshah. "Conventional and Islamic Letter of Credit: Comparison and Implementation." Airlangga International Journal of Islamic Economics and Finance 4, no. 2 (December 30, 2021): 124. http://dx.doi.org/10.20473/aijief.v4i2.23048.
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This study attempts to provide the insight about payment method in international trade, especially by using Letter of Credit both conventional way and Islamic way. This study is exploratory and using qualitative method of research. This study reviews and analyses the previous literatures and other secondary data to conduct the study. The secondary data for this research were gathered through library research. This study also doing the document analysis. Based on the data collected, Letter of Credit is the most secured and commonly used as the method of payment for International Trade. But a lot of contents on the Conventional Letter of Credit is not Shariah-compliant. Islamic Financial Institutions around the world trying to comes up with Islamic Letter of Credit, but to implementing Islamic Letter of Credit creates some new issues and challenges. This study attempts to provide the insight about payment method in international trade, especially by using Letter of Credit both conventional way and Islamic way.
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Bui, Linh Le Thuc. "The fraud rule under letter of credit law in the people’s republic of China and implications for Vietnam." Science & Technology Development Journal - Economics - Law and Management 5, no. 1 (March 13, 2021): first. http://dx.doi.org/10.32508/stdjelm.v5i1.722.
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In international trade where the buyer and the seller do not have information about each other, letter of credit is used to assure the other parties' fears in the sale contract. For instance, the sellers are afraid of not being paid after sending the goods bought by the purchasers, meanwhile, the buyers have no reasonable grounds to believe the sellers will send the conforming goods under the requirements of the sale contracts. The letter of credit is a settlement between parties to reduce the risks and inserts security into the international sale of goods. However, there are fraudsters who tries to defraud the process of the letter of credit and fraud rule is expected to prevent this issue. There are countries tried to develop specific regulations for the letter of credit and fraud rule, one of those countries is the People's Republic of China (P.R.C). The practices of letter of credit in China had been an aiming point of critiques through years by letter of credit experts. In such wise, the Supreme People's Court of P.R.C has issued the Rules of the Supreme People's Court Concerning Several Issues in Hearing Letter of Credit Case (``the 2005 Rules'') in an effort to partly solve the problems. This paper will give a brief introduction about the letter of credit's operation, the law regulating the letter of credit in international trade as well as illustrate the specify law for the fraud rule in letter of credit law in P.R.C by emphasizing the history and summarizing the structure of the fraud rule. Thenceforward, the author will evaluate the case study in Vietnam to show the situation of Vietnam in these days and giving recommendations.
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Jalilian, Negar, Seyed Mahmoud Zanjirchi, and Mark Goh. "Interactive scenario analysis of banking credit risks in intuitive fuzzy space." Journal of Modelling in Management 15, no. 1 (November 18, 2019): 257–75. http://dx.doi.org/10.1108/jm2-01-2019-0011.
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Purpose The purpose of the paper is to bring attention to documentary credits and the efforts to reduce debt obligations in credit history is recognized as an important source of uncommitted bank earnings. Credit risk has a significant impact on the stability of the banking system. This paper identifies the types of credit risk in the banking supply chain. Design/methodology/approach The authors model the types of credit risk using the intuitive fuzzy failure modes and effects analysis (IFMEA) and intuitive fuzzy cognitive mapping. The population of the study that is needed for the interviews and expert panels comprises senior managers and experts of a leading bank in Iran. The respondents are experienced in credit and banking risk and were selected through judgment sampling and snowballing. Findings The findings suggest that reducing the risks of the foreign letters of credit contracts can mitigate the risk in the agricultural sector, the specific risks of rent-to-own contracts, the risk of the long-term facilities and the specific risk of the domestic letter of credit contracts. Originality/value This research investigates Iran Tejart Bank’s credit risk, formulates a model of the types of credit risk present and analyzes them using the intuitive fuzzy failure modes and effects analysis and intuitive fuzzy cognitive map. Through this credit risk model, one can then facilitate risk management for better financial stability. Also, the model can be used to evaluate the risk indicators.
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Chhina, Ramandeep Kaur. "Managing money laundering risks in commercial letters of credit." Journal of Money Laundering Control 19, no. 2 (May 3, 2016): 158–68. http://dx.doi.org/10.1108/jmlc-05-2015-0019.
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Purpose The purpose of this paper is to critically examine the role of banks in detecting and mitigating money laundering risks in trade finance activities, especially in commercial letters of credit, and to answer the central question: do banks comply with regulations that are inadequate (if so, is more stringent regulation compatible with the commercial world of trade finance?), or are banks are in danger of non-compliance? Design/methodology/approach The relevant principles promulgated by international organisations as well as the law enacted in UK to prevent money laundering risks in commercial letters of credit was examined to assess banks’ compliance with their anti-money laundering (AML) obligations. The key provisions of the Money Laundering Regulations 2007, Proceeds of Crime Act 2002 and the Wolfsberg Trade Finance Principles were discussed, and the extent of banks’ compliance with these provisions was highlighted by carefully analysing the steps a bank might take at various stages of the operation of a commercial letter of credit and what the banks in fact do. The paper relies heavily on the findings of the recent study conducted by the Financial Conduct Authority (UK) to analyse the actual practice followed by UK banks in controlling money laundering risks in transactions involving commercial letters of credit. Findings The paper establishes that considering the formal nature of commercial letters of credit (which makes them independent from the underlying transaction), any stringent measures to regulate trade finance activities of a bank may destroy the effectiveness of commercial letters of credit as a tool for promoting international trade. The current law and regulations together with the Joint Money Laundering Steering Group Sectoral Guidance and the Wolfsberg Principles provide the requisite legal and regulatory framework to control money laundering risks in commercial letters of credit. The paper however establishes that the majority of banks in UK currently appear to be in danger of non-compliance with the UK AML regime and certainly need to meet their AML obligations in a more serious way. Practical implications The findings may influence banks to adopt a more vigilant approach in their trade finance activities and to undertake more responsibility in ensuring compliance with the current AML law and regulations, while highlighting that their current practice may put them in danger of non-compliance. Originality/value The paper demonstrates in an exceptional way the legal and regulatory requirements for banks to prevent money laundering risks in their trade finance activities and where, in practice, the banks are falling short of compliance with these requirements. By adopting a step-by-step approach in evaluating banks’ “current-and-must have” approach to controlling money laundering risks at various stages of a commercial letter, the paper makes a valuable contribution to the study of combating money laundering in commercial letter of credit transactions.
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Babović, Miloš. "Legal position of correspondent bank in documentary letter of credit transaction." Pravo i privreda 59, no. 3 (2021): 450–66. http://dx.doi.org/10.5937/pip2103450b.
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Considering that the documentary letter of credit is the most frequently used instrument of free foreign currency payments, as well as that the correspondent bank is an almost indispensable participant in the international letter of credit transaction, this paper is dedicated to analysing its position. The correspondent bank may take on the role of advising a letter of credit to a beneficiary, honour presented documents, or add its confirmation to a letter of credit. Depending on whether it appears as an advising, nominated or confirming bank, its rights, obligations, and responsibilities will be determined. This paper discusses the legal position of the correspondent bank depending on the role it plays, but also the liability of the issuing bank for the damage that the correspondent bank causes to the beneficiary by its actions.
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Bui, Linh Le Thuc. "Independence principle and its exception in letter of credit law: Suggestions for Vietnam." Science & Technology Development Journal - Economics - Law and Management 4, no. 4 (October 4, 2020): First. http://dx.doi.org/10.32508/stdjelm.v4i4.591.
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Even though the letter of credit was invented from a long time ago, however, its legal personalities are very new to the Vietnam Legal Framework. The International Chamber of Commerce (``ICC'') has issued principles for the documentary credit which is the Uniform of Customs and Practice (``UCP'') since 1933 and kept updating it until now, the latest version of UCP is UCP 600 which is presented in 2007. However, the UCP has not systematized many aspects of documentary credit yet and ICC considered those problems as subjects of domestic regulations. The diversification in different national laws leads to confusion thus causing many problems to merchants in international trade. Some countries do not have specified codifications to regulate the letter of credit so these countries treat UCP as ``quasi-law'' while other countries have their own legal framework for letter of credit law and even have fraud rules included. It is quite interesting that the United States which is a common law country is the first country to embody the operation of letter of credit in the Uniform of Commercial Code (``UCC'') and regulates the fraud rule within the same Code. This paper will try to explain and compare the principle of independence in the UCP and UCC, clarify the definition and regulations of fraud rule in UCC and evaluate the legal regulations of Vietnam law for the independence principle in a letter of credit.
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Zhang, Cheng, and Ni Hu. "A New Method for Computing Letter of Credit Risks." SAGE Open 10, no. 4 (October 2020): 215824402097021. http://dx.doi.org/10.1177/2158244020970214.
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This study targets problems in the risk assessment and control processes of letter of credit settlements for Chinese export enterprises. It applies the quantitative method of exploratory factor analysis to extract the main factors and uses a confirmatory factor analysis to test the validity these constructs. VENSIM software is used to design the system dynamics causal tree and flowchart of the letter of credit system. The equation sets of DANAMO parameters are then constructed using the software. Finally, through analysis of the system risk fluctuation diagram with system simulation, it offers enterprises advice on how to identify potential risk points to prevent and control letter of credit risks in advance.
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Aladwan, Zaid. "Letter of Credit Disputes from an Arbitration Perspective." Hasanuddin Law Review 6, no. 1 (April 16, 2020): 46. http://dx.doi.org/10.20956/halrev.v6i1.2136.
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In a recent study, it might not be possible to refer letter of credit fraud cases to arbitration instead of litigation. Alavi’s research suggested that there could be some obstacles, such as obtaining banks’ response and cooperation; the different and high standards of proof of fraud required; and the difficulty in obtaining an injunction. His study answered a question proposed by Blodgett and Mayer as to whether arbitration would ever take place in letter of credit disputes. This short research paper will answer this question, but from a different angle: whether arbitration will provide more appropriate judgments (award) than litigation regarding letter of credit disputes. This question arises from the writer’s observation that, in the past twenty years, different judgments have been issued for similar disputes.
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Zhou, Hao. "Research of Innovative Risk Management in L/C Settlement - Based on Quality Control of Import Goods." Applied Mechanics and Materials 472 (January 2014): 1037–41. http://dx.doi.org/10.4028/www.scientific.net/amm.472.1037.
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Quality of import goods is possibly not up to standard in letter of credit settlement. In order to control the quality of import goods and to prevent exporter from fraudulent credit, importer takes some of the most effective terms that will be considered as soft term fraud by exporter. This paper analyzed the reason for the existence of such risks, and proposed innovative ideas on how to effectively control the quality of import goods in letter of credit settlement. Letter of credit (hereinafter referred as L/C) settlement serves as a more effective, timely and safe transaction way for both sellers and buyer in international trade, but there is still the risk of fraud [. Fraud risk is the greatest one in letter of credit settlement. Buyers will attach great importance to the quality of import goods, but exporter fraud will lead import goods not up to standard. In order to prevent such a quality risk, the importer will set some terms in the L/C, but these terms may be considered as soft term fraud by exporter. Research of risk management in L/C settlement will help importer effectively control the quality of import goods, and promote the L/C settlement.
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Rafique, Rushmila Bintay, and A. Vijayalakshmi Venugopal. "PREVENTIVE MEASURES TO MITIGATE THE RISK OF FRAUD IN LETTERS OF CREDIT TRANSACTIONS IN MALAYSIA." UUM Journal of Legal Studies 12, Number 1 (January 31, 2021): 27–49. http://dx.doi.org/10.32890/uumjls2021.12.1.2.
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This article attempts to analyse the issue of fraud in letters of credit (LC) transactions, also known as documentary credits. There are numerous reported cases of fraud in LC transactions, which remain a continuing risk. The UCP 600 is a popular standard of practice for banks, which confirms that banks must honour payment to the seller upon full compliance with the documentary credit requirements. Such payments have been made despite being presented with falsified documents or substandard goods being delivered. It might not be realistic to expect that the International Chamber of Commerce (ICC) can create global standards relating documentary credits, which cover the practicalities of the existing system and relevant legalities applicable to the letter of credit system in international trading. Each party involved may have a responsibility to take some preventive measures to mitigate the risk of fraud. The doctrinal method is used to conduct this study because it involves an in-depth analysis of the gap within the Malaysian system and the strategies that maybe be adopted to overcome the risks associated with LC fraud. Findings reveal that LC documents can be easily falsified, and the occurrence of LC fraud is not uncommon in Malaysia. However, given the lack of literature it has not been highlighted in the past couple of years. The primary focus of this article is to suggest preventive measures that the respective parties could take to protect themselves from fraudulent dealings involving LCs.
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Dwi Lestarini, Geri. "Perlindungan Hukum Bagi Debitur Dari Kerugian Akibat Perjanjian Kredit Yang Tidak Sesuai Dengan Offering Letter." Jurnal Ilmiah Pendidikan Pancasila dan Kewarganegaraan 5, no. 2 (December 31, 2020): 304. http://dx.doi.org/10.17977/um019v5i2p304-313.
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This study aimed to analyze legal protection for debtors who experienced losses due to the credit agreement which was different from the offering letter. The credit agreement was a principal agreement that governed the rights and responsibilities between creditors and debtors. This study was a normative juridical study, which was then analyzed using descriptive qualitative methods. The search results showed that the bank includes a standard clause in the credit agreement deed, which was different from the offering letter. The existence of these standard clauses violated applicable regulations and prejudiced the debtor. There was legal protection both preventive and repressive provided by laws and regulations for protecting debtors from losses due to standard clauses that were not in the offering letter.
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Efimova, L. G. "Application of Distributed Ledger Technology for Settlements by Letters of Credit." Actual Problems of Russian Law 15, no. 6 (July 11, 2020): 64–72. http://dx.doi.org/10.17803/1994-1471.2020.115.6.064-072.
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The paper carries out a legal analysis of three models of settlements by letters of credit with the use of distributed ledger technology. First, this refers to the model of settlements that uses blockchain as a way of transferring documents under the letter of credit. Second, the author investigates the model of settlements where two smart contracts are used. In the author’s view, such smart contracts should be seen as a way of executing the contracts that, in practice, form the settlement procedure with the use of letters of credit. Third, the most interesting is the settlement model where the payer and the recipient of funds (payee) enter into one smart contract that provides non-cash settlements between them with the use of the P2P service. There is no financial intermediary that organizes non-cash settlements in this settlement model. This difference makes it possible to conclude that settlements similar to settlements with the use of letters by credit via blockchain technology and carried out on the principle of P2P, should be considered as a new form of non-cash settlements. The peculiarity of this form of non-cash settlements is the opportunity given to direct participants of the settlement to fulfil their monetary obligations without using cash and without any assistance of financial intermediaries.
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Andrianto, Agus. "Analisis Yuridis Penggunaan Perjanjian Pengikatan Jaminan Fidusia dan Kuasa (Ppjf) terhadap Mesin yang Masih dalam Pemesanan." JURNAL RECHTENS 8, no. 2 (December 31, 2019): 163–78. http://dx.doi.org/10.36835/rechtens.v8i2.532.
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Credit or financing based on sharia principles provided by banks carries risks, so in practice banks must pay attention to the principles of credit or financing based on sound Sharia Principles. As an intermediary institution and in line with the external and internal environment of the banking system, it is currently experiencing rapid development. Banks are required to be more flexible in providing financing / credit by accepting guarantees that will still exist in the future. One of them is through credit / financing activities based on sharia principles through instruments known in international trade transactions is a Letter of Credit ("L / C"). L / C is a guaranteed payment guarantee from the issuing Bank to make payment to the Exporter, for the presentation of the appropriate documents. For this reason, before opening an L / C, the issuing Bank must ensure that the customer / debtor has the ability to make payments when the customer's obligations have matured. Keywords : Credit , Bank, Letter of Credit
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Handayani, Tari Kharisma, Sanusi Sanusi, and Darmawan Darmawan. "Ketepatan Waktu Notaris dalam Pendaftaran Jaminan Fidusia Secara Elektronik Pada Lembaga Pembiayaan." Jurnal Magister Hukum Udayana (Udayana Master Law Journal) 8, no. 2 (July 31, 2019): 220. http://dx.doi.org/10.24843/jmhu.2019.v08.i02.p06.
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Letter of Credit is one of the payment instruments in international business transactions. Based on the agreement to issue a Letter of Credit, the Letter of Credit is issued by the issuing bank at the request of the applicant as the importer. The Letter of Credit agreement that is used by banks in general is a standard agreement that the clause has been prepared in advance by the bank. The imbalance in the standard agreement can be used by parties whose bargaining position is stronger to abuse the situation. The purpose of this study is to analyze national law and international law related to the issuance of Letter of Credit. The next objective is to analyze the application of the principle of balance in the agreement to issue Letter of Credit as an international business transaction. The type of research used is normative legal research using a statutory approach, the sources of legal materials used based on library research are analyzed qualitatively. The results of the study revealed that whether the principle of balance in the Letter of Credit issuance agreement had been realized in the practice of international business transactions.
Pendaftaran Jaminan fidusia dilakukan secara elektronik sesuai dengan Pasal 11 ayat (1) UU No 42 Thn 1999 tentang “Jaminan Fidusia” (selanjutnya disingkat UUJF). Pendaftaran tersebut haruslah diajukan dalam jangka waktu selama 30 hari terhitung sejak tanggal pembuatan akta jaminan fidusia sebagaimana diatur pada Pasal 4 Peraturan Pemerintah RI No 21 Thn 2015 tentang “Tata Cara Pendaftaran Fidusia dan Biaya Pembuatan Akta Jaminan Fidusia”. Namun, dalam praktiknya masih terjadi keterlambatan terhadap pendaftaran jaminan fidusia tersebut. Tujuan penelitian ini untuk menjelaskan pertanggungjawaban notaris secara perdata terhadap pendaftaran jaminan fidusia secara elektronik yang melewati jangka waktu. Jenis penelitian yang dipakai ialah “penelitian hukum normatif”. Pada penelitian normatif mengkaji asas-asas dan norma-norma serta bahan pustaka atau data sekunder. Hasil penelitian mengungkapkan bahwa notaris secara perdata bertanggung jawab terhadap keterlambatan dalam pendaftaran jaminan fidusia tersebut. Keterlambatan pendaftaran yang disebabkan oleh kelalaian notaris merupakan perbuatan hukum yang menimbulkan konsekuensi hukum. Apabila notaris dalam masa 30 hari tidak melakukan pendaftaran dan pada saat didaftarkan jaminan fidusia secara elektronik pada sistem secara otomatis ditolak, maka hal tersebut adalah menjadi tanggungjawab notaris, apabila nantinya ada kerugian dari pihak kreditur maka notaris dapat digugat, artinya dapat dikenakan sanksi baik secara administrasi maupun secara perdata
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Suhendar, Muh. "PENERAPAN HYBRID CONTRACT PADA LETTER OF CREDIT." AKSY: Jurnal Ilmu Akuntansi dan Bisnis Syariah 2, no. 1 (February 28, 2020): 111–22. http://dx.doi.org/10.15575/aksy.v2i1.7865.
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Keberadaan letter of credit yang benar-benar sesuai dengan syariah Prinsip-prinsip syariah telah ditunggu oleh para pengusaha muslim yang ingin menjalankan nilai-nilai agama mereka di sepanjang hidup mereka. L/C konvensional dipertimbangkan seperti pada L/ syariah karena praktiknya masih menerapkan sistem bunga. Itu Peraturan L / C Syariah telah ada dalam UU No. 21/2008 tentang Perbankan Syariah, dalam pasal 19 hal, dan jauh sebelum undang-undang dibuat, undang-undang tersebut keberadaan L/C Syariah telah disebutkan dalam Fatwa Dewan Syariah MUI Nasional No. 34/DSN-MUI/IX/2002 tentang L/C Impor Syariah dan Fatwa Dewan Syariah Nasional MUI No. 35/DSN-MUI/IX/2002 tentang L/C Ekspor Syariah. L/C Syariah dapat menerapkan beberapa model akad kontrak,seperti: wakalah bi al-ujrah, qard, murabahah, salam/istisna’, musyarakah, hawalah dan al-bai. Dari berbagai kontrak model yang dapat diaplikasikan ke L/C Syariah, wakalah bi al-ujrah dan murabahah dianggap sebagai yang paling efisien, paling aman, dan paling minimum berisiko. Kata kunci: Letter of Credit, Hybrid contract, wakalah bil ujrah
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Park,Se-Won. "Air Waybill Examination under Letter of Credit." KOREA INTERNATIONAL COMMERCIAL REVIEW 24, no. 3 (September 2009): 199–220. http://dx.doi.org/10.18104/kaic.24.3.200909.199.
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Wiwanitkit, Viroj. "Letter to the Editor: Authorship and Credit." Accountability in Research 20, no. 1 (January 2013): 57. http://dx.doi.org/10.1080/08989621.2013.749739.
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Park,Se-Won. "Price Escalation Clause of Letter of Credit." International Commerce and Information Review 16, no. 2 (March 2014): 89–109. http://dx.doi.org/10.15798/kaici.16.2.201403.89.
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Zhang, Yanan. "Documentary letter of credit fraud risk management." Journal of Financial Crime 19, no. 4 (October 5, 2012): 343–54. http://dx.doi.org/10.1108/13590791211266340.
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Alavi, Hamed. "Autonomy Principle and Fraud Exception in Documentary Letters of Credit, a Comparative Study between United States and England." International and Comparative Law Review 15, no. 2 (December 1, 2015): 47–68. http://dx.doi.org/10.1515/iclr-2016-0035.
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Abstract Despite the fact that Documentary Letters of Credit are involved in process of International Trade for many centuries, but their legal personality is very new and their life span is much shorter than their existence. In the middle of Eightieth Century, Lord Mansfield introduced legal aspects of LC operation for the first time to the Common Law System. Later, International Chamber of Commerce started to codified regulations regarding international operation of Documentary Letters of Credit in 1933 under the title of Uniform Customs and Practices for Documentary Letters of Credit and updated them constantly up to current date. However, many aspects of LC operation including fraud are not codified under the UCP which subjects them to national laws. Diversified nature of National Laws in different countries can be source of confusion and problem for many businessmen active in international operation of Documentary Letters of Credit. Such differences are more problematic in Common Law countries as a result of following precedent. For Example, legal aspects of International LC transactions under British Law are only based on case law, however, American Law addresses Letter of Credit Operation under Article 5 of Unified Commercial Code. Due to important role of English and American law in practice of international trade, current paper will try to compare their approach to autonomy principle of in LC operation, fraud rule as a recognized exception to it and search for answer to following questions what is definition of fraud, and what are standards of proof for fraud in LC operation, under English and American law?
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ÖLMEZ, Fatih. "Legal Relationship between the Supervisor of a Letter of Credit and the Beneficiary of a Letter of Credit." Journal of International Scientific Researches 7, no. 1 (February 5, 2022): 9–18. http://dx.doi.org/10.23834/isrjournal.1010952.
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Alavi, Hamed. "Contractual Restrictions on Right of Beneficiary to Draw on a Letter of Credit; Possible Exception to Principle of Autonomy." International and Comparative Law Review 16, no. 2 (December 1, 2016): 67–86. http://dx.doi.org/10.1515/iclr-2016-0015.
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Summary In some circumstances and despite having right to draw under the Letter of Credit, beneficiary agrees in underlying contract that he would not exercise his right before realization of certain conditions stipulated in the contract or any other agreement with applicant. Despite the fact that the instrument itself (documentary letters of credit and bank guarantees) entitles beneficiary for being paid upon presentation of complying documents, making such commitment will impose restrictions on beneficiary within the framework of underlying contract and creates different scenarios that raises respective questions. First scenario would be that beneficiary fulfills his commitments in underlying contract and receives payment under the credit and there will be no dispute between parties. Second scenario is where beneficiary presents complying documents to bank and demands for being paid the amount stipulated in the credit despite existence of an ongoing dispute with applicant regarding his performance in underling contract. Here, it will be a valid question if we ask whether or not breach of such restrictions by beneficiary will influence principle of autonomy? Consecutive question would be, shall the court consider beneficiary’s violation of his restrictive commitment in underlying contract as a new exception to principle of autonomy? To put it in different way, where beneficiary of documentary letters of credit or demand guarantee regardless of his awareness from independence of underlying contract from the credit commits in underlying contract to condition which restricts his right to draw on the credit; will he be allowed by court to rely on the principle of autonomy to neglect his commitment in underling contract? In short, should law recognize other exception in addition to fraud which is in accordance with limits imposed by underlying contract on beneficiary’s right to draw on the credit? In quest of answering above mentioned questions, this paper will be divided into six main parts. After the introduction, second part will describe nature of documentary leers of credit and principle of autonomy. Third part will analyse the nature of exception while fourth one will look at approach of different jurisdictions to this issue. Fifth part will provide different arguments in favour and against recognition of “underlying contract exception”1 and finally last part provides concluding remarks on the subject matter.
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Fauziah, Fauziah. "Sistem dan Prosedur Akuntansi Kredit Produktif pada PT Bank Pembangunan Daerah Jambi Cabang Muara Bulian: Suatu Tinjauan." Ekonomis: Journal of Economics and Business 3, no. 1 (March 19, 2019): 63. http://dx.doi.org/10.33087/ekonomis.v3i1.57.
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The purpose of this study is to find out the system and procedures for credit accounting for the provision of productive credit to customers/debtors of PT. Jambi Regional Development Bank Muara Bulian Branch which has been compiled in accordance with Financial Accounting Standards Number 31 and Bank Indonesia Circular Letter Number 14/26/BKDU. The method used is descriptive method that is by comparing the prevailing theory, in this case the Statement of Financial Accounting Standards Number 31 concerning Banking Accounting and Circular Letter of Bank Indonesia Number 14/26/BKDU Compared with credit procedures at PT. Jambi Regional Development Bank Muara Bulian Branch. The results of this paper indicate that credit accounting procedures on the provision of productive credit to customers/debtors of PT. Jambi Regional Development Bank Muara Bulian Branch has been carried out effectively and efficiently in accordance with applicable principles and regulations.
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Fitriani, Rikha Farikhatul, and Taufan Fajar Riyanto. "Implementation of Handmade Credit Agreements (Without Notary Deed)." Sultan Agung Notary Law Review 2, no. 1 (September 28, 2020): 13. http://dx.doi.org/10.30659/sanlar.2.1.13-23.
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The complete study, entitled "Implementation of Under-Handed Credit Agreements (Without Notary Deed) at PT. Central Java Bank, Semarang Regional Deposit of Sub-Branch "in order to find out and analyze the credit implementation process made under hand (without a Notary deed) at PT. Regional Development Bank of Central Java, Semarang Regional Deposit Assistant branch and to identify and analyze inhibiting factors in the implementation of loans made under hand (without a Notary deed) and how to overcome them. This study uses an empirical juridical approach, which is a legal research carried out by examining and analyzing existing facts in line with observations in the field. Central Java Regional Development Bank, Semarang Regional Deposit of Sub-Branch, for credit application will be given a Loan Application Certificate (SKPP) to be filled in completely and accompanied by the required documents / letters. The credit process "officially" begins with the submission of the completed form. Completely and correctly, all received credit applications will be analyzed and evaluated for credit. Guarantee transactions are carried out to conduct checks and research. The results of the analysis and evaluation, the transaction officer will report to the credit provider officer to refuse credit. Based on the results of the guarantee transaction, the credit provider officer analyzes the credit and the conclusion from the analysis is the adequacy of the guarantee, and for credit decisions accepted. Constraints that occur in the implementation of loans made underhand at PT. The Central Java Regional Development Bank for the Sub-Branch of the Semarang Region Regional Deposit to the community is largely a factor in providing credit guarantees in the form of land certificates of ownership rights (SHM) or Building Use Rights (SHGB) certificates that must be owned by prospective debtors themselves. Many prospective debtors have land assets that are still in the form of meters C and meters D so that the land cannot be pledged as collateral for credit. Settlement in overcoming constraints in implementing credit for PT. Bank Central Java Regional Deposit of Sub-Branch Offices are carried out by means of Bank officers assisting the management of the Property Rights Certificate to the National Land Agency (BPN) and continuing to provide outreach to candidates when customers apply for credit, while efforts to overcome the Bank's efforts to resolve bad loans this is the debtor in default, the Bank may first settle by way of kinship or by way of deliberation, if this fails, the Bank may issue a warning letter or warning letter in the form of administrative sanctions.
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Nugroho, Widhi Cahyo. "PEMBAYARAN LETTER OF CREDIT MENGGUNAKAN INTERNET BANKING DALAM TRANSAKSI PERDAGANGAN INTERNASIONAL (STUDI PADA PT BANK PEMBANGUNAN DAERAH JAWA TIMUR, Tbk)." JHP17 (Jurnal Hasil Penelitian) 7, no. 1 (February 8, 2022): 61–75. http://dx.doi.org/10.30996/jhp17.v7i1.6146.
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Today Letter of Credit (L / C) is not the only way of payment in import and export activities, but the role of Letterof Credit (L / C) is still important because this way of payment can provide a sense of security, both for the exporter,and for importers ... The formulation of the problem is How is the export-import arrangement by paying Letter ofCredit through internet banking at PT Bank Jatim Tbk? How is the legal protection for PT Bank Jatim Tbk as apayer in Letter of Credit transactions through internet banking. The conclusion is in accordance with the principleof pacta sunt servanda as regulated in Article 1338 paragraph (1) of the Civil Code which states: "all treaties madelegally apply as a law for those who make them" and the principle of good faith stipulated in Article 1338 paragraph(3 ) Civil Code. Internet banking is a real-time online payment service, organized by banks.
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Yu, Shi. "Application of letter of credit in international trade." Financial Forum 8, no. 1 (April 20, 2020): 14. http://dx.doi.org/10.18282/ff.v8i1.792.
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<p>In today's world, with the rapid development of economy, many countries have kept up with the pace of economic globalization, and international trade is becoming increasingly important. As a settlement method with banks as guarantors of both parties, L/C (letter of credit) is much safer than commercial credit, and has become the choice of most buyers and sellers in international trade. The purpose of this paper is to introduce the L/C and discuss its advantages and disadvantages in various situations in the application of international trade, and put forward relevant improvement measures.</p>
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Al Amaren, Emad Mohammad, Che Thalbi Bt Md Ismail, and Mohd Zakhiri bin Md Nor. "The Fraud Rules in the Letter of Credit under Jordanian Legal System." Sriwijaya Law Review 5, no. 2 (July 31, 2021): 218. http://dx.doi.org/10.28946/slrev.vol5.iss2.1058.pp218-235.
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Letter of credit (L/C) has a massive role in expanding international trade operations. It is considered the most secure and stable banking service to finance foreign trade operations such as import and export. As an international contract, potential legal issues arise due to fraud practices. In this case, L/C users have to be aware of different approaches followed by domestic courts while dealing with fraud at the international level. This paper aims to identify the fraud means under the fraud rule governing L/C and its impact on Jordan's practice. By applying a qualitative and doctrinal legal approach, this paper analyses the lack of organization of the uniform customs and practice for the letter of credit (UCP No. 600). It also examines, via interviews with Jordanian judges, the perceptions of the Jordanian courts' policy regarding the fraud rule exception in L/C. The finding reveals that to protect the interests of all parties in a letter of credit transaction, Jordanian courts should extend the scope of fraud to cover sale contracts fraud in cases where bona fide holder is involved and when a confirming bank is absent, or when the credit amount has not been paid yet by the issuing bank. In respect of the bank practices, such special provisions implemented to commercial code must be issued due to the lack of legal provisions of the L/C in Jordan legislation.
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Côté, Pierre-Paul. "Considérations sur le prêt commercial et la convention de prêt." Le prêt commercial 28, no. 4 (April 12, 2005): 861–96. http://dx.doi.org/10.7202/042845ar.
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Commercial credit has been given many different forms over the years and the various financial instruments are being constantly refined. By the same token, loan agreements have become increasingly complex documents. The main thrust of this paper is to examine the legal nature, legality and usefulness of a number of financial instruments and clauses usually found in a typical agreement, in the light of basic civil law rules and principles. The first part of this paper deals with a number of financial instruments, namely the open credit agreement, the banker's acceptance, the letter of credit and the letter of guaranty. Secondly the author analyses the typical loan agreement focusing on the convenant 'sfundamentals elements and discussing its relationship with the use of sureties. In particular, two civil law mechanisms that are of some interest in connection with the loan agreement namely novation and subrogation are examined. The third and fourth parts of this paper deal with a number of standard clauses in the open credit and loan agreements.
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Vasiloiu, Georgiana, Julia Smith-Brake, and Simona Eugenia Mihai. "Give Us More Credit! Recommendations for Young and Adult Researchers on Conducting Adolescent-Led Research." Journal of Youth Development 16, no. 2-3 (July 14, 2021): 227–38. http://dx.doi.org/10.5195/jyd.2021.1041.
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Youth participatory action research, child-led research, and child-led activism are being increasingly employed to counter adultism in social work and development contexts, in a way to break down barriers for young people to have their voices heard on issues and decisions about their lives. This commentary comprises 2 open letters from a young researcher and advocate for children’s well-being and rights in Romania. The first letter is addressed to fellow young people and shares the journey of learning about and subsequently researching the issue of sexual violence, as well as a call to young people to stand up and use their voice to bring attention to issues important to them. The fear and anxiety of doing something new, that is usually in an adult space, cedes to empowerment and confidence found through the process. The second letter is addressed to adult researchers and practitioners and shares the methodology and findings of the child-led research project, lessons learned, and recommendations for adults engaging in child-led research. A key recommendation is for adults to support child researchers without manipulating the process, and to give young people more credit in commonly adult-held spaces.
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Abad, Qamar. "Letter of Credit and its Significance in International Commerce." Pakistan Social Sciences Review 1, no. II (December 31, 2017): 153–65. http://dx.doi.org/10.35484/pssr.2017(1-ii)13.
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Khoiruddin, Khoiruddin. "Letter of Credit (L/C) dalam Produk Bank Syariah." Muqtasid: Jurnal Ekonomi dan Perbankan Syariah 1, no. 2 (December 1, 2010): 323. http://dx.doi.org/10.18326/muqtasid.v1i2.323-344.
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The existence of letter of credit which is really accordance with Islamicsyariah principles has been waited by moslem bussinessmen who want torun their religion values in all their life. The conventional L/C is consideredas on syariah L/C due to its practice still applicates the interest system. Theregulation of L/C Syariah has been existed in Act No. 21/2008 concerningPerbankan Syariah, in article 19 p, and long before the act was made, theexistence of L/C Syariah has been mentioned in Fatwa Dewan SyariahNasional MUI NO.34/DSN-MUI/IX/2002 concerning L/C Impor Syariah andFatwa Dewan Syariah Nasional MUI No. 35/DSN-MUI/IX/2002 concerningL/C Ekspor Syariah. L/C Syariah can applicate some models of akads/contracts, such as: wakalah bi al-ujrah, qard, murabahah, salam/istisna’,mudarabah, musharakah, hawalah and al-bai’. From the variety of contractmodels which can be applicated to the L/C Syariah, wakalah bi al-ujrah andmurabahah are considered as the most efficient, safest, and the most minimumrisky. Wakalah bi al-ujrah and murabahah are also an agreement that closestto the goal of L/C existence, that is: makes the international trade processbecome easier
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Hnativ, O. "The legal nature of the letter of credit relationship." Wroclawsko-Lwowskie zeszyty prawnicze, no. 7 (2016): 141–52.
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Tahalua, Imran. "PROSEDUR PEMBERIAN KREDIT MIKRO (KREASI) PADA PT PEGADAIAN (PERSERO) CABANG PELITA MAKASSAR." Jurnal Ilmu Manajemen Profitability 5, no. 1 (February 10, 2021): 1–10. http://dx.doi.org/10.26618/profitability.v5i1.4852.
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The objectivies of the research were to find out kind evaluate the procedure of providing Micro Credit program (KREASI) at PT Pegadaian (Persero) Branch Pelita Makassar. The research was analysed descriptive qualitatively, the data were collected through observations and interviewing. This research was conducted in April to May 2020. The result of the research showed that the procedure of providing Micro Credit program (KREASI) at PT Pegadaian (Persero) Branch Pelita Makassar has been conducted well, starting with the introduction and approach of potential borrowers, the application stage for micro credit, identifying data. After identifying the data by the credit department, it can be deemed done or denied. The borrower then interviewing and the credit department reviewed the debtor directly. Afterwords, the credit department of analysis then analyzing the borrower’s credit to be given. If it is approved, the loan agreement (SPK) will be issued by the credit department and then make a credit agreement. If it is not approved, the credit department will issue a denial letter and return it to a customer.
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Moura, Amanda Ferreira de, Cíntia Maria de Araújo Pinho, Domingos Márcio Rodrigues Napolitano, Fellipe Silva Martins, and João Carlos Franco de Barros Fornari Junior. "Optimization of operational costs of Call centers employing classification techniques." Research, Society and Development 9, no. 11 (December 7, 2020): e86691110491. http://dx.doi.org/10.33448/rsd-v9i11.10491.
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The provision of credit to customers of banking chains through call center services has always been one of the resources that generate significant income for financial institutions, however, the service offers a cost, which is often above desirable to guarantee profitable contracting to Bank. Based on this, this work aims to evaluate the optimization of operational costs of call center, using classification techniques, through experimentation of supervised machine learning techniques to perform the classification task, in order to generate a predictive model, which offers a better performance in the operation of offering bank credit, to carry out an effective and productive action, conceiving greater savings for the company in identifying the public with greater adherence. For this, a database comprising 11,162 call records made from a bank offering its customers a letter of credit was employed. The results showed value correlations between variables, such as duration of the call, marital status, education level and even recurrence in adhering to subscribers' credit agreements. Through the application of the PCA to reduce dimensionality and classification models, such as AdaBoost, Gradient Boosting, SVM RBF, Naive Bayes, Random Forest, it was possible to perceive the consumer profile with good acquiescence for the investment proposal and a group of people with a high probability of not adhering to the letter of credit, so it was possible to outline an action directed to the public predisposed to the offer, minimizing expenses reaching greater profitability.
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Chmielewska, Malgorzata Karolina. "Documentary Letter of Credit: A Pivotal Case for the Inefficiency of the Law of Contract." Revue générale de droit 35, no. 4 (October 31, 2014): 487–532. http://dx.doi.org/10.7202/1027179ar.
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This study compares the methods used both in common law and civil law jurisdictions to deal with the basic problems relating to the documentary letter of credit. A unique commercial device was thus developed in international trade as a means of ensuring safe and swift payment for goods. Even though this distinct mechanism works efficiently in practice, the numerous attempts made to classify it legally have been unsuccessful. A comparative analysis of the legal conceptualizations traditionally used to explain the nature of credit reveals apparent shortcomings in contractual theories. Because the basis of the documentary credit appears to be an abstract promise to pay, this phenomenon seems to break through the conceptual framework of traditional contract law theory. This is due to the fact that the process of forming the credit does not fit into the ordinary offer-acceptance formula. Yet, the easiest solution—the credit as a "mercantile specialty" or a "sui generis contract"—avoids facing the true challenge of our era, which is re-thinking the concept of "contracts" under modern laws. Legal debates should be directed in a more functional direction in order to provide satisfactory theoretical grounds for providing solutions to obvious, but still unanswered questions such as why people ought to keep their promises and why only some of those promises are likely to be legally enforced. It seems that, in this regard, documentary credit would be a convenient "guinea pig" for most contemporary concepts relating to the law of contracts.
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Susilowati, Susilowati, and Gunarto Gunarto. "Legal Consequences Of Mortgage Right Imposition On Uncertified Land (Letter C) In Case The Grantor Is Passed Away." Jurnal Akta 5, no. 2 (May 16, 2018): 427. http://dx.doi.org/10.30659/akta.v5i2.3098.
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The purpose of this study is to know the implementation of the uncertified land as mortgage right (Letter C) and how the effect occurs in case that the grantor is passed away. This research was done with normative juridical approach. Technique of collecting legal material used literature study, while technique of data analysis was done with descriptive qualitative. The author found that UUHT provides an opportunity for owners of uncertified land rights to pledge their land rights in mortgage rights. It is mentioned in Article 10 Paragraph (2) of UUHT stating that if the object of mortgage rights in the form of land rights arising from the conversion of old rights that have been eligible to be registered but the registration has not been done, the granting of the mortgage shall be conducted simultaneously with the application of the right to (Letter C). On the other hand, the mortgagee has died and left the heirs, then there are several ways of settlement made by the bank, namely: If the credit has matured, then the credit is covered by credit insurance. If the credit has matured and the credit insurance has expired, it will be billed up to his heirs by approaching the family by offering loan interest rate relief. It is expected that the government through the National Land Agency can organize the process of land certification in a relatively short time so that it can support the economic activities of the community.Keywords: Mortgage Right; Uncertified Land; The Grantor Is Passed Away
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Dong-Yoon Kim. "Improper Demand of Payment in Standby Letter of Credit Transactions." Journal of International Trade & Commerce 7, no. 3 (September 2011): 339–57. http://dx.doi.org/10.16980/jitc.7.3.201109.339.
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Won-jin Kang. "Application Requirements for Fraud Rule in Letter of Credit Transactions." KOREA INTERNATIONAL COMMERCIAL REVIEW 25, no. 3 (September 2010): 237–54. http://dx.doi.org/10.18104/kaic.25.3.201009.237.
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Kozolchyk, Boris. "The Paperless Letter of Credit and Related Documents of Title." Law and Contemporary Problems 55, no. 3 (1992): 39. http://dx.doi.org/10.2307/1191864.
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Maulana, Irwan. "APLIKASI AKAD WAKALAH DALAM LETTER OF CREDIT BANK SYARIAH MANDIRI." Jurnal Asy-Syukriyyah 21, no. 02 (October 16, 2020): 175–93. http://dx.doi.org/10.36769/asy.v21i02.117.
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Secara harfiah wakalah adalah menjaga, menahan atau penerapan keahlian atas nama orang lain. Berarti menunjuk seseorang untuk mengambil alih atas suatu hal, juga untuk mendelegasikan tugas apapun ke orang lain. Wakalah juga merupakan tanggung jawab. Oleh karena itu, seorang wakil harus melakukan tanggung jawab sebagaimana seseorang yang dipercaya untuk melaksanakan tanggung jawabnya dengan amanah. Jika disyaratkan upah bagi penerima kuasa dalam transaksi pemberian kuasa, penerima kasus berhak atas upahnya setelah memenuhi tugasnya. Jika pembayaran upah tidak disyaratkan dalam transaksi dan penerima kuasa itu bukan pihak yang bekerja untuk mendapat upah, pelayanannya itu bersifat kebaikan saja dan ia tidak berhak untuk meminta pembayaran.
Menurut hukum Islam, sebuah akad harus memenuhi komponen-komponen utama. Tanpa komponen-komponen utama tersebut tidak akan terjadi transaksi. Komponen dalam akad harus ada aqid, ma’qud alaih, mawdu al aqid, serta shighah. Aqid dalam hal ini adalah importir, eksportir, opening bank dan advising bank. Objek transaksi L/C harus bermanfaat dan tidak dilarang oleh syariat Islam. Oleh karena itu, jika objek di larang oleh syariat seperti narkoba, miras, dan lain sebagainya, maka secara otomatis L/C ini tidak sah atau batal.
Dalam transaksi L/C Bank Syariah Mandiri lebih sering menjadi issuing bank. Nasabah berkedudukan sebagai importir membuka L/C di Bank Syariah Mandiri untuk di teruskan kepada nasabah luar negeri.
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Kahale, George. "Chuidian v. Philippine National Bank." American Journal of International Law 85, no. 2 (April 1991): 342–45. http://dx.doi.org/10.2307/2203069.
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The dispute arose out of a 1985 settlement of litigation between Vincente Chuidian, a Philippine national, and the Philippine Export and Foreign Loan Guarantee Corporation (Guarantee Corporation). As part of the settlement, the state-owned Philippine National Bank (Bank) issued a letter of credit to Chuidian on behalf of the Guarantee Corporation. After the Government of President Aquino took office in 1986, the Presidential Commission on Good Government (Commission) was formed and “charged with recovering ‘ill-gotten wealth’ accumulated by Marcos and his associates.” The Commission was authorized to enjoin acts that might frustrate its efforts. Raul Daza, a member of the Commission, instructed the Bank not to pay on the letter of credit issued to Chuidian, claiming that the Commission suspected that the settlement had been fraudulently entered into to prevent the revelation of facts concerning Marcos’s involvement in Chuidian’s business enterprises.
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Wardoyo, Dwi Urip, Emeralda Diva Vania, and Septiani Wahyuningrum. "THE APPLICATION OF RISK MANAGEMENT TO MINIMIZE THE RISK OF BAD DEBTS IN PT. BANK MANDIRI." Jurnal Kelola: Jurnal Ilmu Sosial 5, no. 1 (January 10, 2022): 1–12. http://dx.doi.org/10.54783/jk.v4i2.487.
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The important sector in economic growth in Indonesia is the banking sector. The banking sector is a community fund collection institution. Until now the existence of the banking sector has increased, it also makes there an increase in risk. This increase is characterized by the increasing distribution of public funds to the banking sector. Due to the large amount of these funds, as for the regulations issued by Bank Indonesia regarding the implementation of risk management for commercial banks with Bank Indonesia Circular Letter No.7/3DPNP dated January 31, 2015. This research aims to find out the application of risk management at PT Bank Mandiri. The type of research is descriptive research with a qualitative approach. The results of this study show that PT Bank Mandiri has implemented good risk management to minimize problem credit well in accordance with the provisions of Bank Indonesia and is able to maintain the average level of Non-Performing Loan (NPL), the NPL figure will show the percentage of problematic credit from all credits launched to the public.
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Firmansyah, Febry. "Perlindungan hukum terhadap kreditur selaku pengambil alih kredit pada kreditur." Jurnal Cakrawala Hukum 12, no. 2 (September 5, 2021): 178–86. http://dx.doi.org/10.26905/idjch.v12i2.5812.
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Credit take over is a payment made by a third party to a creditor, who will replace his position as a new creditor to the debtor. The absence of standard rules regarding the implementation of credit take over has resulted in non-standardization of the credit take over implementation process. The purpose of this article is to examine the legal protection of the parties in implementing the take over at Bank Jatim Banyuwangi Branch. This type of research is empirical legal research where the study was conducted at Bank Jatim Banyuwangi Branch. The results of research conducted by a Notary/PPAT in Banyuwangi are included in the category of subrogation by way of law (Article 1403 of the Civil Code). In the implementation of take over credit protection is obtained through the re-signing of the SKMHT at the time of the Roya Letter, and a certificate of proof of ownership of the guarantee has been physically issued by the initial creditor. The implementation of the take over for new creditors at Bank Jatim Banyuwangi Branch is obtained through the re-signing of the SKMHT which is the basis for making APHT when the roya letter, proof of credit repayment, and certificate of proof of collateral ownership have been physically issued by the initial creditor (bank). The initial check before the certificate of proof of ownership is issued by the initial creditor is carried out by issuing a Land Registration Certificate (SKPT) through the BPN.How to cite item: Firmansyah, F. (2021). Perlindungan hukum terhadap kreditur selaku pengambil alih kredit pada kreditur. Jurnal Cakrawala Hukum, 12(2), 178-186. doi:https://doi.org/10.26905/idjch.v12i2.5812