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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | LETTERS OF CREDIT CHALLENGES & FINANCIAL LOSS FACED BY EXPORTERS IN THE FORM OF DOCUMENTARY DISCREPANCIES |
| Authors Name: | Apeksha Garg |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_186774
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| Published Paper Id: | IJNRD2301334 |
| Published In: | Volume 8 Issue 1, January-2023 |
| DOI: | http://doi.one/10.1729/Journal.32845 |
| Abstract: | Abstract— There is no doubt about the risky nature of international trade. Such risk can be conceptualized as country risk, transportation risk, customer risk, etc. Documentary Letters of Credit (LC) have been used as a payment method in international business for many centuries to reduce the risk of the trade, primarily when parties are located in different countries and do not have precise information about the financial standing of each other. In such occasions, LC will reduce the risk of a trade by shifting payment obligation from the buyer to the bank as a legal entity in return for the presentation of complying documents with terms of credit by the seller. Familiarity with the legal nature and different legal frameworks which govern the international operation of documentary letters of credit can facilitate the process of international trade for business people and boost national economies. However, a lack of knowledge about them can impose huge losses on international traders. The situation will be more complicated when we understand that many internationally recognized legal frameworks can affect the operation of LC. They are frequently updated to address technological and economic developments in the global market. In this paper, the author tries to address issues associated with documentary LC. |
| Keywords: | Documentary letters of credit, fraud, international trade, risk management, LC discrepancies, Beneficiary, Applicant. |
| Cite Article: | "LETTERS OF CREDIT CHALLENGES & FINANCIAL LOSS FACED BY EXPORTERS IN THE FORM OF DOCUMENTARY DISCREPANCIES", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 1, page no.d303-d309, January-2023, Available :http://www.ijnrd.org/papers/IJNRD2301334.pdf |
| Downloads: | 000118757 |
| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2301334 Registration ID: 186774 Published In: Volume 8 Issue 1, January-2023 DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.32845 Page No: d303-d309 Country: Indore, Indore, India Research Area: Management Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2301334 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2301334 |
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ISSN: 2456-4184
Impact Factor: 8.76 and ISSN APPROVED
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