Letters of Credit continue to be the most popular method of international payments in the trading community, but there is a push to convert traditional processes to the electronic age of paperless transactions. This paper discusses the new eUCP regulations (version 1.0), which became effective...

A letter of credit (L/C), in international trade may be described as an instrument of finance carrying a conditional guarantee of payment from the overseas (buyer?s) bank to the seller. Consequently, a L/C is desirable in high value and/or high risk transactions. The guarantee is conditional...

One of the fundamental considerations for exporters in international trade transactions is the aspect of payment. In the context of financial risk management, Letters of Credit enable the exporter to substitute the credit risk of the buyer with that of his bank. The Letter of Credit is a...

This article reports on an exploratory study, conducted at a number of universities in the Czech Republic during 2008-09, on the perception of the value of industry placement for academics in economic disciplines. An industry placement requires an academic to be seconded to a relevant industry...

This paper considers the changes between the Incoterms 2000 and the Incoterms 2010 from a risk management perspective, and highlights the challenges that traders may encounter when dealing with some of these terms. For example, the problematic FOB term and its use in containerisation is not...

The choice of delivery terms in international contracts has significant impact on both physical and financial risks for importers and exporters. This paper considers implications resulting from a recent Australian tribunal case involving transactions based on Delivered Duty Paid (DDP) terms...