Research of Innovative Risk Management in L/C Settlement - Based on Quality Control of Import Goods

2014 ◽  
Vol 472 ◽  
pp. 1037-1041
Author(s):  
Hao Zhou
Keyword(s):  
Risk Management ◽  
Quality Control ◽  
International Trade ◽  
Letter Of Credit ◽  
Fraud Risk ◽  
Soft Term ◽  
Quality Risk

Quality of import goods is possibly not up to standard in letter of credit settlement. In order to control the quality of import goods and to prevent exporter from fraudulent credit, importer takes some of the most effective terms that will be considered as soft term fraud by exporter. This paper analyzed the reason for the existence of such risks, and proposed innovative ideas on how to effectively control the quality of import goods in letter of credit settlement. Letter of credit (hereinafter referred as L/C) settlement serves as a more effective, timely and safe transaction way for both sellers and buyer in international trade, but there is still the risk of fraud [. Fraud risk is the greatest one in letter of credit settlement. Buyers will attach great importance to the quality of import goods, but exporter fraud will lead import goods not up to standard. In order to prevent such a quality risk, the importer will set some terms in the L/C, but these terms may be considered as soft term fraud by exporter. Research of risk management in L/C settlement will help importer effectively control the quality of import goods, and promote the L/C settlement.

scholarly journals PHARMACEUTICAL QUALITY MANAGEMENT SYSTEM: A REVIEW

2018 ◽  
Vol 2 (3) ◽  
pp. 67-78
Author(s):  
Shrey Sharma ◽  
R. B. Bodla ◽  
Shweta S. ◽  
D. P. Pathak
Keyword(s):  
Risk Management ◽  
Quality Control ◽  
Quality Management System ◽  
Drug Product ◽  
Quality Risk Management ◽  
Technical Requirements ◽  
Use Of Resources ◽  
Risk Management Process ◽  
Quality Risk

ICH is “International Conference on Harmonization” of technical requirements for registration of pharmaceuticals for human use. The goal of ICH is to discuss and establish common guidelines by bringing together three ICH regions i.e. USA, Japan and EU and to make information available on ICH, its activities and guidelines. The guidelines have become more relevant for Generic’s Drug Approval. Drug Development and manufactures are more and more global. Harmonization is considered more important than ever, as it facilitates work sharing, efficient use of resources and access to medicines. The objective of harmonization is meant for economical use of human, animal and other resources and the elimination of unnecessary delay in the global development and of availability of new medicines whilst maintaining safeguards on quality, safety and efficacy. The present discussion of the review is on ICH guidelines for quality control focussing mainly on Quality Risk Management (Q9). Quality control is a process that is used to ensure a certain level of quality in a product or service. It might include whatever action a business deems necessary to provide for the control and verification of certain characteristics of a product or service. Most often, it involves thoroughly examining and testing the quality of products or the results of services. The basic goal of this process is to ensure that the products or services that are provided meet specific requirements and characteristics, such as being dependable, satisfactory, safe and fiscally sound. Quality risk management is a systematic process for the assessment, control, communication and review of risks to the quality of the drug product across the product lifecycle. Two primary principles of quality risk management are: The evaluation of the risk to quality should be based on scientific knowledge and Ultimately linked to the protection of the patient; and The level of effort, formality, and documentation of the quality risk management process should be commensurate with the level of risk.

scholarly journals Risk Analysis in Documentary Letter of Credit Operation

2017 ◽  
Vol 0 (0) ◽  
Author(s):  
Hamed Alavi
Keyword(s):  
Risk Management ◽  
International Trade ◽  
Risk Analysis ◽  
Current Paper ◽  
Management Theory ◽  
Letter Of Credit ◽  
Legal Principles ◽  
Strict Compliance ◽  
Letters Of Credit

Abstract Documentary Letters of Credit are among most popular methods of payment used in international trade. They function as an irrevocable promise of issuing a bank to pay instead of an applicant buyer to a beneficiary seller under the condition that the beneficiary presents complying documents with terms and conditions of the credit to the bank. One of the reasons for the popularity of the LCs in international trade is shifting the payment risk from an individual buyer to a bank with a much stronger financial standing. However, LC operation in international trade is not free of risk. Despite the fact that two main principles of the Documentary Letter of Credit’s Operation (Principle of independence and principle of strict compliance) facilitate the process of international trade significantly, but still all parties involved in LC operation are supposed to be cautious about the existing risks relevant to their role in LC operation. Current paper tries to use legal principles of documentary credits and risk management theory in order to define existing risks to each party (beneficiary, applicant and bank) in international LC transaction and find an answer to the question of what are exposing risks for involved parties? For this purpose, the paper starts with an explanation of the two main principles of LC operation and moves forward with using the risk management theory to explain existing risks for each party in detail.

scholarly journals ANALISIS MANAJEMEN RISIKO PADA KANTOR PUSAT PT. BANK BENGKULU

2015 ◽  
Vol 2 (1) ◽  
Author(s):  
Dian Wundari Gustini ◽  
Sulisti Afriani
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Quantitative Analysis ◽  
Qualitative Analysis ◽  
Quality Risk Management ◽  
Average Value ◽  
Financial Position ◽  
Inherent Risk ◽  
Quality Risk

Dian Wundari Gustini, Sulisti Afriani; Analysis Of Risk Management in PT.Bank Bengkulu Office. This study aims to determine the Analysis Risk Management in PT . Bank Bengkulu Office. The type of is the study descriptive. In this study the samples used is the form of quality report application of risk management PT. Bank of Bengkulu in 2012. By the risk report can described the condition of PT. Bank Bengkulu and can be analyzed levels of application quality . For quantitative analysis using the inherent risk assessment , which is an assessment of the risks inherent Bank's business activities, both of which can be quantified or are not , and could potentially affect the financial position of the Bank. The qualitative analysis using indicators Quality Risk Management with the criteria and parameters that have been set by Bank Indonesia . This study showed an overview of the implementation of risk management at PT. Bank Bengkulu average value of 2.50 is in the interval from 1.81 to 2.60 with Satisfactory criteria is quality risk management of PT. Bank of Bengkulu in composite adequate , although there are minor flaws, but these flaws need to get the attention of the management of PT. Bank Bengkulu to make improvements. Assessment of the quality of risk management implementation in PT Bank Bengkulu can be traced from the stages of preparation of strategies, programs, policies, objectives, and implementation.

scholarly journals Mitigating the Risk of Fraud in Documentary Letters of Credit

2016 ◽  
Vol 6 (1) ◽  
pp. 139-156 ◽  
Author(s):  
Hamed Alavi
Keyword(s):  
Risk Management ◽  
International Trade ◽  
Preventive Measures ◽  
Research Question ◽  
Management Theory ◽  
Main Method ◽  
Fraud Risk ◽  
Method Of Payment ◽  
Letters Of Credit ◽  
Fraud Risk Management

AbstractDespite the fact that documentary letters of credit (LC) are meant to facilitate the process of international trade, their specific characteristics may increase the risk of fraud while being used as the method of payment in the process of international transaction. Many factors like exclusive use of documents, geographical distance, absence of efficient prosecution, the diversity of legal system at the global level and restricted application of fraud rule can be considered as reasons for LC fraud. While billions of dollars are lost annually due to fraud in the course of LC operations, such vulnerability can result in reducing the global popularity of documentary letters of credit as the main method of payment used in international trade. Meanwhile, it is worth mentioning that fraud risk management is an unexplored territory in the practice of documentary letters of credit operation. Existing research tries to fill the gap in the study on comprehensive methods for mitigating fraud risk in operations with documentary letters of credit by using risk management theory in order to answer the question of how to manage fraud risk in LC transactions? In a quest to answer the research question, the paper is divided into two parts: the first part is dedicated to preventive measures while the latter explores responsive measures of an enterprise to manage fraud risk in LC transactions.

Development and Application of Quality Control System for Highway Subgrade Construction

2019 ◽  
Vol 2 (5) ◽  
Author(s):  
Tong Wang
Keyword(s):  
Quality Control ◽  
Real Time ◽  
Detection Method ◽  
System Development ◽  
Effective Control ◽  
Construction Process ◽  
Development Mode ◽  
The Road ◽  
Whole Process

The compaction quality of the subgrade is directly related to the service life of the road. Effective control of the subgrade construction process is the key to ensuring the compaction quality of the subgrade. Therefore, real-time, comprehensive, rapid and accurate prediction of construction compaction quality through informatization detection method is an important guarantee for speeding up construction progress and ensuring subgrade compaction quality. Based on the function of the system, this paper puts forward the principle of system development and the development mode used in system development, and displays the development system in real-time to achieve the whole process control of subgrade construction quality.

Construction Control As A Strategy For Improving The Quality Of Buildings And Structures

2020 ◽  
Keyword(s):  
Quality Control ◽  
Life Cycle ◽  
Construction Control ◽  
Construction Sites ◽  
Actual Problem ◽  
Construction Market ◽  
Construction Products ◽  
Underlying Causes ◽  
Required Quality

In construction production, the safety of constructing buildings and structures is achieved by ensuring the required quality as a result of systematic construction control based on the implementation of a complex of technical, economic and organizational measures at all stages of the object's life cycle. The article deals with the actual problem of improving the quality of construction products-buildings and structures in conjunction with the activities of construction control bodies. The article presents the advanced foreign and domestic experience of ensuring the quality control at the construction sites, providing for the prevention of the underlying causes of defects and increasing the interest of the contractors directly. On the basis of the analysis of the current situation with quality control at the construction market, ways to improve its efficiency by developing a unified system of technological implementation of relevant requirements for the quality of construction products, determining the rational number and business load of construction control engineers, as well as the active activities of self-regulatory organizations in this area are offered.

The concept of motivation for effective credit risk management

2020 ◽  
Vol 26 (11) ◽  
pp. 2567-2593
Author(s):  
M.V. Pomazanov
Keyword(s):  
Risk Management ◽  
Economic Modeling ◽  
Type I ◽  
Credit Risk Management ◽  
Curve Modeling ◽  
Business Functions ◽  
The Common ◽  
Lending Decisions ◽  
The One

Subject. The study addresses the improvement of risk management efficiency and the quality of lending decisions made by banks. Objectives. The aim is to present the bank management with a fair algorithm for risk management motivation on the one hand, and the credit management (business) on the other hand. Within the framework of the common goal to maximize risk-adjusted income from loans, this algorithm will provide guidelines for ‘risk management’ and ‘business’ functions on how to improve individual and overall efficiency. Methods. The study employs the discriminant analysis, type I and II errors, Lorentz curve modeling, statistical analysis, economic modeling. Results. The paper offers a mechanism for assessing the quality of risk management decisions as opposed to (or in support of) decisions of the lending business when approving transactions. The mechanism rests on the approach of stating type I and II errors and the corresponding classical metric of the Gini coefficient. On the ‘business’ side, the mechanism monitors the improvement or deterioration of the indicator of changes in losses in comparison with the market average. Conclusions. The study substantiates the stimulating ‘rules of the game’ between the ‘business’ and ‘risk management’ to improve the efficiency of the entire business, to optimize interactions within the framework of internal competition. It presents mathematical tools to calculate corresponding indicators of the efficiency of internally competing entities.

68. The resident experience in a large urban teaching setting: Results of the 2005-2006 resident exit survey, University of Torontos

2007 ◽  
Vol 30 (4) ◽  
pp. 66
Author(s):  
N. Tenn-Lyn ◽  
S. Verma ◽  
R. Zulla
Keyword(s):  
Quality Control ◽  
Residency Training ◽  
Royal College ◽  
Online Survey ◽  
Career Guidance ◽  
Training Programs ◽  
Program Planning ◽  
Educational Experience ◽  
Care Experience

We developed and implemented an annual online survey to administer to residents exiting residency training in order to (1) assess the quality of the residency experience and (2) identify areas of strength and areas requiring improvement. Long-term goals include program planning, policy-making and maintenance of quality control. Survey content was developed from an environmental scan, pre-existing survey instruments, examination of training criteria established by the CFPC and the CanMEDS criteria established by the RCPSC. The survey included evaluation benchmarks and satisfaction ratings of program director and faculty, preparation for certification and practice, quality of life, quality of education, and work environment. The response rate was 28%. Seventy-five percent of respondents were exiting from Royal College training programs. Results of descriptive statistics determined that the overall educational experience was rated highly, with 98.9% of respondents satisfied or very satisfied with their overall patient care experience. Ninety-six percent of respondents were satisfied or very satisfied with the overall quality of teaching. Preparation for practice was identified as needing improvement, with 26% and 34% of respondents giving an unsatisfactory rating to career guidance and assistance with finding employment, respectively. Although 80% of respondents reported receiving ongoing feedback and 84% discussed their evaluations with their supervisors, only 38% of evaluations were completed by the end of the rotation. The results indicate that residents are generally satisfied with their experiences during residency training, especially with their overall educational experience. Areas of improvement include preparation for practice and timeliness of evaluations. Further iterations of this survey are needed to refine the instrument, identify data trends and maintain quality control in residency training programs. Frank JR (ed.). The CanMEDS competency framework: better standards, better physicians, better care. Ottawa: The Royal College of Physicians and Surgeons of Canada, 2005. Merritt, Hawkins and Associates. Summary Report: 2003 Survey of final-year medical residents. http://www.merritthawkins.com/pdf/MHA2003residentsurv.pdf. Accessed May 1, 2006. Regnier K, Kopelow M, Lane D, Alden A. Accreditation for learning and change: Quality and improvement as the outcome. The Journal of Continuing Education in the Health Professions 2005; 25:174-182.

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