scholarly journals Interbank Withdrawal Protocol (IWP): A Complementary System of Rastin Banking

2019 ◽  
Vol 3 (1) ◽  
pp. 30-34
Author(s):  
Bijan Bidabad ◽  
Mahmoud Allahyarifard
Keyword(s):  
Financial Institutions ◽  
Third Party ◽  
Clearing House ◽  
Judicial Process ◽  
Bank Supervision ◽  
Legal Proceedings ◽  
The Third ◽  
Judicial Proceedings ◽  
Debt Collection ◽  
Practical Implications

Purpose: This paper aims to define a new protocol, whereby brings the required preparations for the bank to collect its claim or its customer’s claim through withdrawal from the debtor’s account in other banks and financial institutions that have signed the protocol. Design: According to this protocol and under central bank supervision, the bank (as owner or attorney of the third party) as claimer of check, promissory note, bill, or a debt initiated by customer's commitment based on collaterals or guarantees, withdraws the claim from the debtor’s accounts in other banks and financial institutions that are members of the protocol through Automatic Clearing House (ACH). Findings: Despite taking collaterals, guarantees, and binding of contracts, executive debt collection process through the legal proceedings is a major challenge that banks, financial institutions, and persons are facing. The legal and execution process of debt collection through collaterals and guarantees are complicated, lengthy, and costly. Interbank Withdrawal Protocol (IWP) solves the problem by proposing a protocol to be accepted by banks to permit withdrawal of the account of the debtor in other banks. Practical implications: It is seen much that a person owes a lot to a person or bank, but s/he deposits her/his money at her/his accounts in other banks. The Interbank Withdrawal Protocol (IWP) is an agreement between banks which permits the bank to collect the debt through online-withdraw from the accounts of the debtor at other banks after depleting the account of the debtor at the agent bank. Social implications: This protocol increases reliance and security upon commitments and provides fast settlement and debt collection without time-consuming judicial process. It also reduces judicial proceedings and execution of active files in courts and consequently related costs. Originality/value: Complementary systems in Rastin Banking have been designed to solve the prevailing problems of banking and financial activities. IWP was designed to provide necessary arrangements for fast, clean debt collection and encashing check and collecting the bill. JEL: L86, L87, G21, G24

Optimal trade-in and third-party collection authorization strategies under trade-in subsidy policy

Kybernetes ◽  
2018 ◽  
Vol 47 (5) ◽  
pp. 854-872 ◽  
Author(s):  
Kaiying Cao ◽  
Qiushi Bo ◽  
Yi He
Keyword(s):  
Design Methodology ◽  
Profit Maximization ◽  
The Other ◽  
Third Party ◽  
Subsidy Policy ◽  
Content Type ◽  
The Third ◽  
Optimal Decisions ◽  
The Third Party ◽  
Practical Implications

Purpose This paper aims to study whether the recycling of a third party competes with the trade-in service of a manufacturer, and explores the optimal trade-in and third-party collection authorization strategies for the manufacturer. Design/methodology/approach According to whether to authorize a third party to collect its used products, the manufacturer has two choices: one is not authorization (NA); the other is authorization (A). This paper uses profit-maximization model to investigate the optimal decisions of the manufacturer and the third party under NA and A, respectively, and then explores which choice is better for the manufacturer. Findings It is observed that there is a competition between trade-in service and third-party recycling when the durability parameter of the used product is relatively small. Moreover, when the durability parameter of the used product is relatively large, A is always better choice for the manufacturer; otherwise, NA is a better choice except for the case that the unit trade-in subsidy is low and the salvage of the used product is high. Practical implications These results provide managerial insights for the manufacturer and the third party to make decisions in the field of recycling. Originality/value This paper is among the first papers to study the competition between trade-in program and third party’s collecting program under government’s trade-in subsidy policy. Moreover, this paper presents the conditions under which the manufacturer should authorize or not authorize the third party to collect its used products.

scholarly journals Judgment and Trial in Lex Ripuaria

2021 ◽  
Vol 17 (2) ◽  
pp. 14-21
Author(s):  
A. V. Makutchev
Keyword(s):  
Economic Development ◽  
European Law ◽  
Early Medieval ◽  
Judicial Process ◽  
Legal Proceedings ◽  
Socio Economic Development ◽  
Judicial Proceedings ◽  
Judicial Procedures

The article is devoted to the analysis of the provisions of one of the most important sources of early medieval European law, but little studied in Russian historiography – Ripuarian Law, namely, aspects of judicial proceedings. The aim of the study was to identify both the general features of the judicial process that were perceived by the Ripuarian Franks from the legislation of the Salic Franks, in particular, the Salic Law, and the features that reflect aspects of the socio-economic development of Ripuaria. In the course of the study, firstly, the provisions of the Ripuarian Law were identified, which correspond to the existing ideas about the legal proceedings of the Franks – about the procedure for summoning to court, about the types of evidence, etc.; Secondly, in accordance with the purpose of the study, deviations from the practice of legal proceedings adopted by the Salic Franks were identified, which are characteristic of the Ripuarian Franks and are subject to study in conjunction with them (in particular, a certain simplification of judicial procedures, attention to certain types of evidence, etc.).

scholarly journals AL-IJARAH AL-MUNTAHIYAH BI AL-TAMLIK (IMBT) DALAM PERSPEKTIF ANATOMI KONTRAK BISNIS

ALQALAM ◽  
2009 ◽  
Vol 26 (2) ◽  
pp. 193
Author(s):  
Jaih Mubarok
Keyword(s):  
Financial Institutions ◽  
Financial Institution ◽  
The State ◽  
Point Of View ◽  
Third Party ◽  
Business Unit ◽  
The Third ◽  
Arbitration Board ◽  
The Law ◽  
The Third Party

AI-Ijarah al-Muntahiyyah bi al-Tamlik (IMBT) is conceptually almost the same as leasing which is conducted by world financial institutions, including those of in Indonesia. IMBT is a service product of syari'a financial institution which is transparant and is able to involve the third party whenever it is necessary. In the context of Indonesia, economic syari'a is culturally designed and run by the Coumil of Indonesian Ulama (MUI). In order to regulate the bussiness in the syari'a system, MUI forms the Council of National Syari'a (DSN) issuing the fatwas; in order to give monitoring, DSN places The Board ef Syari'a Controller (DPS) in every business unit which uses syari'a system; in order to solve the syari'a business disputation, MUI forms the Arbitration Board of National Syari'a (Basyarnas). Moreover, The State has structurally accomodated the system of syari'a business in law and regulation. Therefore, The openess characteristics (the principle of free based contract) which is also practiced in the contract of IMBT is restricted by the law and regulation and considered appropriate in syari'a point of view based on DSN-MUI fatwas.

Game Analysis of Logistics Enterprises Default in Financial Logistics

2014 ◽  
Vol 687-691 ◽  
pp. 5173-5176
Author(s):  
Cheng Jun Wang ◽  
Juan Ming
Keyword(s):  
Financial Institutions ◽  
Third Party ◽  
Main Body ◽  
Third Party Logistics ◽  
Great Loss ◽  
Game Analysis ◽  
The Third Party Logistics ◽  
Logistics Enterprise ◽  
The Third ◽  
Logistics Enterprises

The third party logistics enterprise acts as an important role in financial logistics and a great loss will be brought to other participants by its default. Therefore, reducing the default above is the key to carry out the financial logistics. this article, by the game analysis of the decision-making in banks and logistics companies which is the financial logistics main body, the factors affect the default of the logistics enterprise are presented, and the model is verified by actual cases. Thus, a reference for other financial institutions to implement the financial logistics is provided, and finally, lessons are supplied for the financial logistics to develop better.

scholarly journals The Role of the Prosecutor in Executing the Payment of Replacement Money

2020 ◽  
Vol 9 (3) ◽  
pp. 521
Author(s):  
I Gede Artha ◽  
Ni Nengah Adiyaryani
Keyword(s):  
The State ◽  
Third Party ◽  
Legal Basis ◽  
Legal Research ◽  
Judicial Process ◽  
The Third ◽  
Criminal Charge ◽  
Procedural Code ◽  
Financial Losses

This research is about the role of the Prosecutor as an executor in executing the assets of the convicts of corruption, to recover the State financial losses from corruption. Besides that, this research aims to know about the returning of State financial losses through the payment of replacement money. Corruption is an extraordinary crime, veiled and endanger national stability and security and inhibiting Indonesian economic development. This research is a normative legal research with primary, secondary and tertiary legal material supported by data. This research is using statutory, case, and comparative approaches. The legal basis used in this research are Law No. 31 of 1999 in conjunction with Law No. 20 of 2001, Law No. 16 of 2004 and Law No. 8 of 1981 (Indonesian Criminal Procedural Code). The corruption has become systematic and the scope enters into all aspect of life, start with the lower level with State Officers and law enforcers becomes the dominant actors. In imposing the sanction, The Judges are not only charge imprisonment but also charge additional fines and/or penalties to returning the State financial losses and ask the convicts of corruption to pay the replacement money to the State. The problem arises in this research related to the execution of the verdict about returning State financial losses which are the assets of the convicted person is already in the third party hands or have been depleted, dual population administration, the length of the judicial process, the convicted person prefers to take the subsidiary criminal charge and the hollow of norm regarding technical execution for the Prosecutors so that the execution cannot be carried out.

The competition between B2C platform and third-party seller considering sales effort

Kybernetes ◽  
2016 ◽  
Vol 45 (7) ◽  
pp. 1084-1108 ◽  
Author(s):  
Kaiying Cao ◽  
Ping He
Keyword(s):  
Design Methodology ◽  
Free Riding ◽  
Third Party ◽  
Content Type ◽  
Effort Level ◽  
The Third ◽  
Optimal Decisions ◽  
Negative Effect ◽  
The Third Party ◽  
Practical Implications

Purpose By studying the competition between a B2C platform and a third-party seller, the purpose of this paper is to analyze and compare their optimal decisions and profits between cases with and without sales effort of the platform or third-party seller. Design/methodology/approach This paper studies the competition between a B2C platform and a third-party seller. The platform sells a product directly, and allows the third-party seller to sell a competing product on the platform. Based on whether the platform or the third-party seller makes sales effort, there are four scenarios. The paper analyzes the optimal decisions and profits of platform and third-party seller under each scenario, respectively. Findings The transaction fee has a negative effect on third-party seller’s sales effort level. What is more, the platform can take a free riding from the third-party seller’s sales effort, but the platform’s sales effort has a negative effect on the profit of third-party seller. Practical implications These results provide managerial insights for the platform and the third-party seller to make decisions. Originality/value This paper is among the first papers to study the competition between B2C platform and third-party seller.

scholarly journals Periodization of History of Judicial Transformations in Russia in the Second Half of the XIX to the XXI Century

2021 ◽  
Vol 5 ◽  
pp. 34-45
Author(s):  
Aleksey A. Demichev ◽  
◽  
Valentina M. Bolshakova ◽  
Vera A. Ilyukhina ◽  
◽  
...  
Keyword(s):  
Russian Federation ◽  
Judicial System ◽  
Judicial Reform ◽  
Legal Proceedings ◽  
The Third ◽  
History Of ◽  
Judicial Proceedings ◽  
The Russian Federation ◽  
The Russian Empire ◽  
Second Period

The article proposes a periodization of judicial reforms in the Russian Empire, the RSFSR and the Russian Federation. The article proposes a distinction between the concepts of «judicial reform» and «judicial reform». There are distinguished and characterized six periods of judicial reforms in relation to the dynamics of the judicial system and legal proceedings in Russia in the second half of the XIX — XXI centuries: the first period (November 20, 1864 — July 1, 1899) — the judicial reform of 1864; the second period (July 1, 1899 — November 22 (December 5), 1917)) — the transformation of the judicial system and judicial proceedings created by the Judicial Statutes of 1864; the third period (November 22 (December 5), 1917 — May 25, 1922) — the judicial transformations of the first years of Soviet power; the fourth period (May 25, 1922 — July 10, 1923) — the judicial reform of 1922; the fifth period (July 10, 1923 — October 24, 1991) — transformation of the judicial system and judicial proceedings in the RSFSR, created during the judicial reform of 1922; the sixth period (October 24, 1991 — July 29, 2018) — judicial reform in the Russian Federation.

scholarly journals IMPLEMENTASI FATWA DSN-MUI NO: 86/ DSN-MUI/ XII/ 2012 TENTANG HADIAH DALAM PENGHIMPUNAN DANA

2019 ◽  
Vol 1 (1) ◽  
pp. 23-44
Author(s):  
M. Ridwan Setiawan ◽  
Rahmawati Rahmawati ◽  
Wahidin Wahidin
Keyword(s):  
Financial Institutions ◽  
Third Party ◽  
Islamic Banks ◽  
The Third ◽  
Sharia Law ◽  
Islamic Financial Institutions ◽  
Conventional Banks

The fatwa of the DSN-MUI is the answer issued by the National Sharia Council-Indonesian Ulama Council (DSN-MUI) as an explanation of the sharia law for people who ask questions about problems in the field of Islamic economics. The goal is that sharia principles in the fatwa be implemented in contracts for Islamic Financial Institutions (LKS). However, public statements often arise that giving gifts to Islamic banks and conventional banks is the same as the scheme and method of giving. This study aims to see how the mechanism and suitability of DSN-MUI fatwa No: 86 / DSN-MUI / XII / 2012 concerning Prizes in Fundraising (Study at Bank Muamalat KCP Parepare). The results of the research can be stated that at Muamalat bank, KCP Parepare has two savings programs with prizes, the first is prizes with prizes, customers deposit funds in the amount set by the bank for a predetermined period of time, second savings plan with prizes, customers deposit money at the beginning of the amount of money that has been determined by saving each month in the amount determined by the bank, the greater the amount of money saved the greater the number of prizes received. In the DSN-MUI fatwa related to the awarding of prizes there are 3 provisions related to this, namely the first provision related to prizes, the two provisions relating to the determination of receipt of implemented prizes according to fatwa, third not the provisions concerning prizes in deposits of Third Party Funds (DPK) all points in this fatwa implemented specifically on the third point that reads should not be the norm (habit, 'urf), that the' urf or custom prohibited by DSN-MUI in the fatwa prize aims to avoid changing intentions from the customer, intention to save become the desire to get something without effort.

PENERAPAN ASAS JAMINAN FIDUSIA DAN PERJANJIAN PADA PENDAFTARAN JAMINAN FIDUSIA DALAM PEMBIAYAAN KONSUMEN (Studi Putusan Pengadilan Tinggi Bandung Nomor: 102/PDT/2015/PT.BDG)

2017 ◽  
Vol 5 (1) ◽  
pp. 24
Author(s):  
Eva Andari Ramadhina ◽  
Ambar Budhisulistyawati
Keyword(s):  
Financial Institutions ◽  
Third Party ◽  
Court Decision ◽  
Legal Research ◽  
High Court ◽  
The Third ◽  
The Third Party ◽  
Droit De Suite

<h1><em>Abstract</em><em></em></h1><p><em>This article aims to determine whether there is the application of the principles of fiduciary and principles of the treaty in the registration of fiduciary by financial institutions as well as to determine the suitability and incompatibility rules fiduciary in the decision under review, Bandung High Court No. 102/PDT /2015/PT.BDG. This article is </em><em>a prescriptive normative legal research</em><em>, with law and case approach. Results of research and study shows that there is no application of fiduciary principles on the implementation of consumer financing agreement, but already apply the principles of the agreement. Consumer agreement that is not accompanied by any additional agreements resulted in the imposition of bail using general collateral, so it does not apply to him the rights of collateral material. Consequently, for the third party is not respected the rights of creditors holders fiduciary. When there is a transition object fiduciary, creditors holder can’t be protected by the principle of droit de suite. In other words, the holder of fiduciary creditors as unsecured creditors domiciled not preferred creditor. At the Bandung High Court Decision No. 102/PDT/2015/PT.BDG, there are no registration requirements fiduciary implementation, so that the rights of debtors and creditors are not protected.</em></p><p><em>Keywords: Customer Agreement, Registration Fiduciary, Fiduciary Principles, Principles Agreement</em><em></em></p><p align="center"><strong>Abstrak <br /></strong></p><p>Artikel ini bertujuan untuk mengetahui ada tidaknya penerapan asas-asas jaminan fidusia dan asas-asas perjanjian dalam pendaftaran jaminan fidusia oleh lembaga pembiayaan serta untuk mengetahui kesesuaian dan ketidaksesuaian peraturan jaminan fidusia pada putusan yang dikaji, yaitu Putusan Pengadilan Tinggi Bandung Nomor: 102/PDT/2015/PT.BDG. Artikel ini termasuk ke dalam jenis penelitian hukum normative yang bersifat preskriptif, dengan pendekatan undang-undang dan kasus. Hasil penelitian dan pembahasan menunjukkan bahwa pada pelaksanaan perjanjian pembiayaan konsumen tidak terdapat penerapan asas-asas jaminan fidusia, namun sudah menerapkan asas-asas dari perjanjian. Perjanjian konsumen yang tidak disertai dengan adanya perjanjian tambahan mengakibatkan pembebanan jaminannya menggunakan jaminan umum, sehingga tidak berlaku padanya hak-hak dari jaminan kebendaan. Konsekuensinya, bagi pihak ketiga adalah tidak dihormatinya hak jaminan fidusia dari kreditur pemegang jaminan fidusia.  Ketika terjadi peralihan benda jaminan fidusia, kreditur pemegang jaminan fidusia tidak dapat dilindungi berdasarkan asas droit de suite. Dengan kata lain, kreditur pemegang jaminan fidusia berkedudukan sebagai kreditur konkuren bukan kreditur preferen. Pada Putusan Pengadilan Tinggi Bandung Nomor: 102/PDT/2015/PT.BDG, tidak terdapat penerapan ketentuan pendaftaran jaminan fidusia, sehingga hak-hak debitur maupun kreditur tidak dilindungi.</p><p>Kata Kunci : Perjanjian Konsumen, Pendaftaran Fidusia, Asas-asas Jaminan Fidusia, Asas-asas Perjanjian</p>

scholarly journals INTERACTION BETWEEN APPARENT AND IMPLIED AUTHORITY IN THE IMPLEMENTATION OF SUSTAINABLE BUSINESS RELATIOHSIPS

2021 ◽  
Author(s):  
Vaidas JURKEVIČIUS ◽  
Raimonda BUBLIENĖ
Keyword(s):  
Research Methodology ◽  
Case Law ◽  
Third Party ◽  
Complex Relationship ◽  
Business Relationships ◽  
Sustainable Business ◽  
The Third ◽  
Legitimate Interests ◽  
Practical Implications ◽  
Limited Scope

Purpose – to reveal the problems of apparent and implied authority in the context of sustainable business relationships. Research methodology – the research is conducted from a comparative perspective, explaining the problems of apparent and implied authority in selected jurisdictions. Findings – authors conclude that apparent authority is the exclusive remedy available only where a link has been established between the circumstances of the principal and the reasonable belief of the third party. Implied authority cannot be equated with apparent authority, although case law often does not distinguish between these two categories. Research limitations – due to limited scope, this article does not address the ratification of unauthorised agent’s actions and the liability of falsus procurator. Practical implications – the research reveals that implied authority derives from the factual circumstances in which the agent acts and must be regarded as part of the actual authority, which presupposes that, unlike in the case of apparent authority, the implied representation does not qualify as one of the cases of unauthorised agency. Originality/Value – the significance of this study is linked to the development of reasonable rules for the application of apparent and implied authority in order to safeguard the legitimate interests of all persons involved in this complex relationship.

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