Trade Finance
Technology, Innovation and Documentary Credits
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Product details:
- Publisher OUP Oxford
- Date of Publication 7 July 2021
- ISBN 9780198854470
- Binding Hardback
- No. of pages416 pages
- Size 254x177x28 mm
- Weight 868 g
- Language English 127
Categories
Short description:
This new book analyses the challenges posed to current legal structures by technological changes, financial innovation, and international regulation in trade finance.
MoreLong description:
Trade Finance provides a much-needed re-examination of the relevant legal principles and a study of the challenges posed to current legal structures by technological changes, financial innovation, and international regulation. Arising out of the papers presented at the symposium, Trade Finance for the 21st Century, this collection brings together the perspectives of scholars and practitioners from around the globe focusing on core themes, such as reform and the future role of the UCP, the impact of technology on letters of credit and other forms of trade finance, and the rise of alternative forms of financing.
The book covers three key fields of trade finance, starting with the challenges to traditional trade financing by means of documentary credit. These include issues related to contractual enforceability, the use of "soft clauses", the doctrine of strict compliance, the fraud exception, the role of the correspondent bank, performance bonds, and conflict of laws problems. The second main area covered by the work is the technological issues and opportunities in trade finance, including electronic bills of exchange, blockchain, and electronically transferable records. The final part of the work considers alternative and complementary trade finance mechanisms such as open account trading, supply-chain financing, the bank payment obligation, and countertrade.
Table of Contents:
Part 1: LEGAL AND PRACTICAL CHALLENGES TO TRADITIONAL TRADE FINANCE
The UCP Regime: Past, Present, and Future
The Letter of Credit as a Contract
Soft clauses in letters of credit
Perspectives on the Role of the Nominated Bank in a Letter of Credit
Determining a Complying Presentation in Letter of Credit Transactions: a Principled Appraisal of Current Requirements and Challenges
The Fraud Rule in the Law of Letters of Credit Revisited
Letters of Credit and Stop Payment Orders Made in the Issuer's Country
Independent Guarantees in International Trade
Part II: TRADE FINANCE TECHNOLOGY
The Electronic Bill of Exchange and its Use in International Trade
Digitalisation of Shipping and Insurance Documents: Implications for Trade Finance
Implementation and Implications of the UNCITRAL Model Law on Electronic Transferable Records in Trade Finance
Will Trade Finance be Transformed by Blockchain?
Part III: INNOVATION AND TRADE FINANCE CHALLENGERS
The Bank Payment Obligation as a Signal Step in the Evolution of Digital Trade Finance
Open Account, Prepayment, and Supply Chain Financing
Innovation and Islamic Trade Finance
Countertrade as Finance
