Letters of credit: an approach based on the default risk
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Títol
Letters of credit: an approach based on the default riskAutoria
Tutor/Supervisor
Palmer Silveira, Juan CarlosTutor/Supervisor; Universitat.Departament
Universitat Jaume I. Departament d'Estudis AnglesosData de publicació
2014Editor
Universitat Jaume IResum
The recent years have been marked by the increase of the international trade at a global
stage; this can be explained by the disappearance of many customs barriers and by the lift of
tariffs and quotas on imports ... [+]
The recent years have been marked by the increase of the international trade at a global
stage; this can be explained by the disappearance of many customs barriers and by the lift of
tariffs and quotas on imports for many products. In a current international context like the one
that we are facing nowadays, banks play a crucial role in enabling international trade by
guaranteeing international payments and reducing the risks in trade transactions. This paper
consists of a brief analysis of the use of Letters of Credit in order to avoid the default risk,
since the Letter of Credit is a very common means of payment used both in export and import
operations.
This study focuses on the Documentary Credit as a means of payment and it is also a study
of the implications for the banks in this process. It deals with the role of banks in the
processing of Letters of Credit. Specifically, this short study tries to analyze an export
operation from Spain to Lebanon that has been processed with Banco Santander and that
resulted in the non-payment of the amount established by the L/C due to an incorrect
processing performed by the bank. The paper aims at underlining the importance of
documents in international trade as well as the fact that it is of crucial importance to respect
all the information established by the Documentary Credit.
The genesis of this study is the result of my exposure to international trade activities and
my desire to present my point of view regarding the use of Letters of Credit in international
export operations. [-]
Paraules clau / Matèries
Descripció
Treball Final de Màster Universitari en Llengua Anglesa per al Comerç Internacional. Codi: SAR016. Curs: 2013/2014
Tipus de document
info:eu-repo/semantics/masterThesisDrets d'accés
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/restrictedAccess
info:eu-repo/semantics/restrictedAccess