INTERNATIONAL TRANSPORT RULES: KEY POINTS IN ISSUING TRANSPORT DOCUMENTS TO MITIGATE RISKS AND LOSSES IN INTERNATIONAL TRADE
Öz
70 pct of international trade documents submitted for payment are rejected under letter of credit being not in compliance with international standard rules and letter of credit terms. This study aims to clarify key points in issuing transport documents to mitigate such losses. To find out the refusal rate of Turkey, 2018 swift data were gathered from the sampling banking group. It is found that the average discrepancy rate is 53,45 percent for export and 30,02 percent for import documentation, that is more than 50 percent of the presented documents are not accepted for payments. The exporters, importers and transporters must be aware of the key points of standard international rules and issue documents as per these rules to mitigate such risks and losses.
Anahtar Kelimeler
Kaynakça
- Alavi, H. (2017). Risk Management Techniques and their Application to Documentary Discrepancy in Letter of Credit Transaction. European Journal of Economic Studies, (6), 4-17.
- Collyer, G. (2015). The guide to documentary credits. IFS School of Finance.
- ICC Policy statement. (1999). The determination of an "Original" document in the context of UCP 500 subArticle 20(b) Commission on Banking Technique and Practice, 12 July 1999 Document no. 470/871 Rev. 29 July 1999. Retrieved from https://iccwbo.org/content/uploads/sites/3/1999/07/The-determination-of-an-Original-document-in-the-context-of-UCP-500-sub-Article-20b.pdf.
- ICC Publication No. 600E. (2006). ICC Uniform Customs and Practice for Documentary Credits UCP 600.
- ICC Publication No. 600E. (2006). ICC Uniform Customs and Practice for Documentary Credits-UCP 600, Article 17.
- ICC Publication No. 600E. (2006). ICC Uniform Customs and Practice for Documentary Credits-UCP 600, Article 19.
- ICC Publication No. 600E. (2006). ICC Uniform Customs and Practice for Documentary Credits-UCP 600, Article 20.
- ICC Publication No. 600E. (2006). ICC Uniform Customs and Practice for Documentary Credits-UCP 600, Article 20 Sub article (a) and Subarticle (v).
Ayrıntılar
Birincil Dil
İngilizce
Konular
-
Bölüm
Araştırma Makalesi
Yazarlar
Yurdagül Meral
*
Türkiye
Yayımlanma Tarihi
1 Haziran 2020
Gönderilme Tarihi
2 Aralık 2019
Kabul Tarihi
13 Ocak 2020
Yayımlandığı Sayı
Yıl 2020 Cilt: 19 Sayı: 37
