Integrated Web-Based Letter of Credit System : Today's Opportunity , Tomorrow's Urgency

2014 ◽  
Vol 2 (6) ◽  
pp. 57-66
Author(s):  
Sanaz Nikghadam Hojjati ◽  
Fatemeh Soleimani Roozbahani ◽  
Mohammad Reza Yavarzadeh
Keyword(s):  
Credit System ◽  
Web Based ◽  
Letter Of Credit

scholarly journals PREVENTIVE MEASURES TO MITIGATE THE RISK OF FRAUD IN LETTERS OF CREDIT TRANSACTIONS IN MALAYSIA

2021 ◽  
Vol 12 (Number 1) ◽  
pp. 27-49
Author(s):  
Rushmila Bintay Rafique ◽  
A. Vijayalakshmi Venugopal
Keyword(s):  
Preventive Measures ◽  
Credit System ◽  
Letter Of Credit ◽  
Full Compliance ◽  
Global Standards ◽  
Depth Analysis ◽  
International Trading ◽  
Standard Of Practice ◽  
Letters Of Credit ◽  
Primary Focus

This article attempts to analyse the issue of fraud in letters of credit (LC) transactions, also known as documentary credits. There are numerous reported cases of fraud in LC transactions, which remain a continuing risk. The UCP 600 is a popular standard of practice for banks, which confirms that banks must honour payment to the seller upon full compliance with the documentary credit requirements. Such payments have been made despite being presented with falsified documents or substandard goods being delivered. It might not be realistic to expect that the International Chamber of Commerce (ICC) can create global standards relating documentary credits, which cover the practicalities of the existing system and relevant legalities applicable to the letter of credit system in international trading. Each party involved may have a responsibility to take some preventive measures to mitigate the risk of fraud. The doctrinal method is used to conduct this study because it involves an in-depth analysis of the gap within the Malaysian system and the strategies that maybe be adopted to overcome the risks associated with LC fraud. Findings reveal that LC documents can be easily falsified, and the occurrence of LC fraud is not uncommon in Malaysia. However, given the lack of literature it has not been highlighted in the past couple of years. The primary focus of this article is to suggest preventive measures that the respective parties could take to protect themselves from fraudulent dealings involving LCs.

scholarly journals A New Method for Computing Letter of Credit Risks

SAGE Open ◽  
2020 ◽  
Vol 10 (4) ◽  
pp. 215824402097021
Author(s):  
Cheng Zhang ◽  
Ni Hu
Keyword(s):  
Factor Analysis ◽  
Quantitative Method ◽  
Credit System ◽  
Letter Of Credit ◽  
Credit Risks ◽  
Confirmatory Factor ◽  
System Risk ◽  
Chinese Export ◽  
Main Factors ◽  
And Control

This study targets problems in the risk assessment and control processes of letter of credit settlements for Chinese export enterprises. It applies the quantitative method of exploratory factor analysis to extract the main factors and uses a confirmatory factor analysis to test the validity these constructs. VENSIM software is used to design the system dynamics causal tree and flowchart of the letter of credit system. The equation sets of DANAMO parameters are then constructed using the software. Finally, through analysis of the system risk fluctuation diagram with system simulation, it offers enterprises advice on how to identify potential risk points to prevent and control letter of credit risks in advance.

scholarly journals BLOCKCHAIN IN EDUCATION: HOW TO MANAGE STUDENT CREDITS OF HIGHER EDUCATION THROUGH THE BLOCKCHAIN?

2020 ◽  
Vol 70 (2) ◽  
pp. 251-256
Author(s):  
B.A. Kumalakov ◽  
◽  
Y. Shakan ◽  
Keyword(s):  
Higher Education ◽  
Third Party ◽  
Party Organization ◽  
Credit System ◽  
Web Based ◽  
Web Resource ◽  
Blockchain Technology ◽  
Information Safety ◽  
The Creation ◽  
And Control

Currently, technologies are developing very quickly and the need for information security is constantly increasing. In this connection, Blockchain technology is becoming in demand, which allows us to keep information safety and integrity. In addition, the technology enables the creation of a decentralized environment where transactions and data are take place without any third party organization. We proposed a decentralized web resource based on the Ethereum platform for managing student credits. The decentralized application (Dapp), will process, manage and control tokens, which represent credits that students gain for completed certain courses. The credit system is a first step towards a more transparent and technologically advanced form which could be used by universities and students to manage credits. The novelty of this scientific research is the creation of a web-based information resource based on Blockchain technology. Thanks to this resource, it becomes possible to track students' grades and receive reliable information about higher education. This completely eliminates the possibility of making changes to existing records.

scholarly journals SISTEM INFORMASI PENGAJUAN KREDIT BERBASIS WEB PADA KOPERASI INTAN ABADI BANYUWANGI

Respati ◽  
2018 ◽  
Vol 13 (2) ◽  
Author(s):  
Putri Nadia Ayu Rahmawati ◽  
Ahmad Chusyairi
Keyword(s):  
Human Resources ◽  
Operational Cost ◽  
Credit System ◽  
Application Process ◽  
Application Form ◽  
Web Based ◽  
Operational Costs ◽  
Long Time ◽  
Marketing Team ◽  
Time Required

INTISARICV. Intan Abadi Banyuwangi adalah salah satu koperasi yang bergerak dalam bidang permohonan peminjaman kredit. Sistem perkreditan yang sedang berjalan masih bersifat manual di mana banyak membutuhkan kertas dalam proses pengajuan permohonan peminjaman kredit dan juga tim marketing untuk mencari nasabah dan melakukan survei yang prosesnya memerlukan waktu yang lama, sehingga menyebabkan biaya operasional setiap bulan semakin meningkat. Metode yang digunakan dalam penelitian ini adalah waterfall. Untuk mengatasi masalah tersebut, maka diperlukan Sistem Informasi Pengajuan Kredit berbasis web pada Koperasi Intan Abadi Banyuwangi, sehingga proses permohonan kredit bersifat paper less dimana calon nasabah dapat mengisi formulir permohonan kredit secara langsung melalui online dan juga dapat mengurangi tenaga sumber daya manusia untuk marketing dalam mencari nasabah dan melakukan survei, sehingga biaya operasional setiap bulan dapat berkurang dan waktu yang dibutuhkan untuk pengajuan kredit relatif singkat. Hasil dari penelitian ini adalah laporan konfirmasi kelayakan kredit dari tim marketing (surveyor) dan laporan persetujuan kredit dari manager.Kata Kunci−pengajuan kredit, web, waterfall, koperasi, Intan Abadi Banyuwangi. ABSTRACTCV. Intan Abadi Banyuwangi is one of the cooperatives which is engaged in credit loan application. The ongoing credit system is still manual in which many require paper in the process of applying for credit lending as well as marketing team to find customers and conduct survey which process takes a long time, thus causing the operational cost every month is increasing. The method used in this research is waterfall. To overcome these problems, it is necessary to apply Web-based Credit Information System to the Cooperation of Intan Abadi Banyuwangi, so that the credit application process is paper less where the prospective customer can fill in the loan application form directly through online and also can reduce the human resources for marketing in searching customers and conduct surveys, so the monthly operational costs can be reduced and the time required for credit application is relatively short.The result of this research is the confirmation report of creditworthiness of marketing team (surveyor) and credit approval report from manager.Keywords−submission of credit, web, waterfall, cooperative, Intan Abadi Banyuwangi.

Research on Risks of Letter of Credit Settlement Based on Factor Analysis and System Dynamics Simulation

2019 ◽  
Author(s):  
cheng zhang
Keyword(s):  
Factor Analysis ◽  
Quantitative Method ◽  
System Simulation ◽  
Dynamics Simulation ◽  
Credit System ◽  
Letter Of Credit ◽  
Credit Risks ◽  
System Risk ◽  
Main Factors ◽  
And Control

<p>Targeting at the problems in the risk assessment and control processes of the letter of credit settlement in China's export enterprises so far, it first adopts the quantitative method and exploratory factor analysis to extract the main factors. On the basis, the software VENSIM is used to design the dynamics causes tree and the flow chart of the letter of credit system. Next, the equation sets of DANAMO parameters are also constructed with the software. Finally, through observation of the system risk fluctuation diagram with system simulation, it gives enterprises some advice on how to identify risk points and how to prevent and control letter of credit risks in advance.<br></p>

scholarly journals Perancangan Sistem Informasi Akuntansi Penjualan Kredit Buku Cetak (Studi Kasus : CV ASRI MANDIRI)

2020 ◽  
Vol 3 (1) ◽  
pp. 13-24
Author(s):  
Ayu Vidiasari ◽  
Dedi Darwis
Keyword(s):  
Data Collection ◽  
Credit System ◽  
Text Book ◽  
Web Based ◽  
Sales Data ◽  
Credit Data

This study aims to manage credit sales data on CV Asri Mandiri to facilitate the management of credit data and generate reports periodically. Another objective is to implement a web-based text book credit system on CV Asri Mandiri and to test the system using ISO 25010. The method used in this research is data collection where interviews and observations are carried out on CV Asri Mandiri, as well as literature studies on journals or books related to credit information systems.The results achieved are a web-based application selling books on CV Asri Mandiri. This application uses Dreamweaver and MySQL as a database, the system built can generate sales reports ordered by customers. The results of ISO 25010 testing that has been carried out involving 13 respondents showed the overall quality of the feasibility of the software produced in this study with a percentage of 96.06%. Abstrak Penelitian ini bertujuan untuk mengelola data penjualan secara kredit pada CV Asri Mandiri sehingga dapat mempermudah dalam pengelolaan data kredit dan menghasilkan laporan secara periode. Tujuan lainnya yaitu mengimplementasikan sistem kredit buku cetak pada CV Asri Mandiri berbasis web dan melakukan pengujian menggunakan ISO 25010. Metode yang digunakan dalam penelitian ini yaitu metode pengumpulan data dimana melakukan wawancara dan observasi pada CV Asri Mandiri, melakukan studi pustaka tentang jurnal atau buku terkait dengan sistem informasi kredit dan mendapat beberapa dokumentasi. Hasil yang dicapai adalah sebuah aplikasi berbasis web penjualan buku pada CV Asri Mandiri. Aplikasi ini menggunakan dreamweaver dan mysql sebagai database, Sistem yang dibangun dapat menghasilkan laporan penjualan yang dipesanan pelanggan. Hasil pengujian ISO 25010 yang telah dilakukan dengan melibatkan 13 responden bahwa kesimpulan kualitas kelayakan perangkat lunak yang dihasilkan secara keseluruhan dengan persentase 96,06%. Kata Kunci : Penjualan Kredit, Berbasis Web, ISO 25010

A Systematic Approach for Assessment of Attainment in Outcome-based Education

2021 ◽  
Vol 9 (1) ◽  
pp. 8-29
Author(s):  
S. Amirtharaj ◽  
G. Chandrasekaran ◽  
K. Thirumoorthy ◽  
K. Muneeswaran
Keyword(s):  
Systematic Approach ◽  
Higher Learning ◽  
Assessment System ◽  
Credit System ◽  
Web Based ◽  
Outcome Based Education ◽  
Institutions Of Higher Learning ◽  
Course Outcomes ◽  
Programme Outcomes

The capabilities expected to be attained by learners, after learning a course or programme, are called course outcomes (CO) and programme outcomes (PO), respectively. The objectives of outcome-based education (OBE) are to ensure realization of grooming graduates with all the theoretical, practical and soft skills required to make them competent and industry-ready professionals. This article discusses the implementation of an assessment system for analysing the attainment of outcomes in OBE. It is a web-based application for evaluating the attainment of COs, POs and programme educational objectives (PEOs) in institutions of higher learning. Recently, OBE and choice-based credit system (CBCS) have become prevalent in institutions of higher learning. The significance and benefits of OBE and CBCS are recognized by all stakeholders, including accrediting agencies. The process for establishing and refining, the vision and mission of the institution, vision and mission of the department offering the programme, COs, POs and PEOs are discussed. The procedure and rubrics for assessing the attainment of the outcomes are also discussed. Accreditation is an honouring mechanism used to assess the standards and quality of the education offered by a programme to a student at an institution of higher learning. The article discusses a systematic approach for assessment of attainment of outcomes by graduates of a programme in an autonomous engineering college following OBE with CBCS.

scholarly journals Use of Letter of Credit Form of Settlements in Ukraine

2020 ◽  
Vol 24 (1) ◽  
pp. 39-44
Author(s):  
A. Burkovskaya ◽  
◽  
V. Pavlenko ◽  
Keyword(s):  
Foreign Trade ◽  
Technological Progress ◽  
Trade Agreements ◽  
Credit System ◽  
Letter Of Credit ◽  
Goods And Services ◽  
Current State ◽  
National Bank ◽  
Letters Of Credit ◽  
The Impact

Annotation. Introduction. The current state of Ukraine’s development provides broad conditions for enterprises in world trade, so the question arises how to minimize the risks of trade operations. The presence of risks and an unstable external environment can lead to non-fulfillment of obligations by the parties to the contracts. Therefore, the study of the letter of credit system for services is relevant because it will be able to ensure minimal cost risk. Purpose. The purpose of this article is to study the letter of credit as one of the reliable mechanisms for payment of foreign trade operations, and its use in Ukraine. Results. The article examines and investigates the system of letter of credit and its use in Ukraine. The main regulations on the regulation of letter of credit calculations are considered. The main advantages of the letters of credit are defined. The main stages of letter of credit conclusion are systematized. The impact of scientific and technological progress on the simplification of letters of credit is considered. Systematized main types of letters of credit and their classification. Conclusions. Using a letter of credit as a method of payment for goods and services will minimize the risks of both the seller and the buyer. In turn, the reform of the National Bank of Ukraine will allow the letter of credit to gain popularity and possibly become the main means of payment for foreign trade agreements. Keywords: letter of credit; form of calculations; obligation of the parties; types of letters of credit; basic regulations.

scholarly journals A Study on the Activation of Electronic Letter of Credit System in Korea

2007 ◽  
Vol 5 (1) ◽  
pp. 63-83
Author(s):  
Jong-Chill Kim ◽  
김태환
Keyword(s):  
Credit System ◽  
Letter Of Credit
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