The legal nature of the bill of lading as a negotiable document of title has allowed it to provide the basis of a system in which bankers provide credit for the financing of international sales contracts on the strength of the security afforded by the goods represented in the bill. The sea waybill has appeared as a substitute for the bill of lading and, despite its nature as a nonnegotiable document, it can be employed in a manner which allows it to provide collateral security to banks. Multimodal transport documents which may be issued in negotiable or non-negotiable form assume the same legal role as the bill oflading or sea waybill respectively. The inclusion of specific articles in the 1993 Revision of the UCP relating to non-negotiable sea waybills and multimodal transport documents affirms their acceptability to banks financing international sales contracts under documentary letters of credit. / Law / LL.M.

Para entender cuáles son las dificultades que afrontan las pequeñas empresas exportadoras e importadoras y lograr una expansión internacional, el presente estudio tiene como objetivo principal identificar los factores que limitan el uso de la carta de crédito en el estrato empresarial de la pequeña empresa. Para ello se identificó cuatro factores limitantes relacionados al uso de la carta de crédito y basados en el marco teórico pre-configurado de la investigación, los cuales son: Altos precios, falta de conocimiento limitaciones en el acceso al sistema financiero burocracia en el trámite documentario y la informalidad en las pequeñas empresas la cual se volvió a replantear en el proceso de la investigación conviniendo en el factor burocracia en el tramite documentario Por tal motivo, se realizó una investigación cualitativa exploratoria, con diseño de teoría fundamentada, con la finalidad de recolectar información basada en los conocimientos, experiencias, vivencias y opiniones de 18 participantes. Con una muestra de 12 pequeñas empresas exportadoras e importadoras y se realizaron 6 entrevistas a expertos. Asimismo, se pretende lograr un cambio en sus costumbres, hábitos actuales o decisiones en el tema de investigación. En primera instancia se planteó a través del plan de investigación tres factores importantes para la investigación. Sin embargo, al iniciar la validación de contenido, recopilación de información y según los resultados del programa Atlas, Ti, se identificó un factor fundamental que no había sido considerado al inicio la investigación, el factor altos precios en el uso de instrumentos financieros de comercio exterior “Carta de crédito”. Por tal motivo se determinó la existencia de cuatro factores y como objetivo principal conocer los factores que limitan el uso de las cartas de crédito en las pequeñas empresas exportadoras e importadoras de Lima Metropolitana, 2019. Además, el planteamiento de la hipótesis inicial la cual es enfrentar las dificultades a las que se enfrentan las pequeñas empresas exportadoras e importadoras para limitar el uso de la carta de crédito en sus operaciones de comercio exterior son la falta de conocimiento en los instrumentos financieros de comercio exterior, asimismo las barreras existentes para el acceso al financiamiento al sector MIPYMES. Los cuales han logrado hacer entender los obstáculos por los que atraviesan las empresas de este sector, finalmente, se han descrito las conclusiones y recomendaciones según el análisis de los resultados. Para el primer objetivo de la presente investigación; percepción sobre los costos de la carta de crédito que tienen las pequeñas empresas exportadoras e importadoras de Lima Metropolitana, este factor es muy importante al momento de decidir el uso de este instrumento en sus operaciones internacionales, consideran que son altas las comisiones en su emisión, así como el tener una escasa información y asesoramiento para carta de crédito ha conllevado al poco uso de la carta de crédito. Sin embargo, este medio de pago internacional abre un número de oportunidades financieras, permitiendo estos beneficios reducir los costos en otros financiamientos, así como brindar seguridad y respaldo en sus transacciones comerciales internacionales. Por otro lado, el segundo objetivo de estudio, grado de conocimiento en el manejo de carta de crédito en las pequeñas empresas exportadoras e importadoras de Lima Metropolitana, se confirma que existe una falta de conocimiento en cartas de crédito, así como la poca difusión que se da por parte de los funcionarios de las entidades bancarias en ofrecer la carta de crédito, a pesar que existen instituciones del estado que brindan información relacionada a la carta de crédito no es muy conocida por parte del segmento PYMES, así como el desconocimiento que se tiene respecto a las ventajas y beneficios por usar la carta de crédito. Para el tercer objetivo de estudio, sobre las dificultades por las que atraviesan las pequeñas empresas exportadoras e importadoras de Lima Metropolitana, se identificó barreras que presentan las instituciones financieras a las pequeñas empresas al solicitar una carta de crédito, como lo son: el exceso de garantías, pocos años de constitución, experiencia bancaria, falta de documentación financiera, conocimientos administrativos y financieros, alto porcentaje de informalidad, hacen que el sector pyme no accedan a un medio de pago más formal y seguro. Para el cuarto objetivo sobre los procesos administrativos por los que atraviesa la pequeña empresa exportadora de Lima Metropolitana para solicitar la carta de crédito, se confirma que existe trámites excesivos al solicitar un financiamiento con carta de crédito, según la presente investigación, existe controversia entre los especialistas y las pequeñas empresa, debido a que estos segmentos no concuerdan con la existencia de Burocracia en el trámite documentario, se deduce en la presente investigación las dificultades y molestias en el tramite documentario son de manera mayoritarias por el segmento pyme. Se recomienda la capacitación continua de las pequeñas empresas para lograr un correcto manejo empresarial y contar con información idónea para las instituciones financieras. Además, a las instituciones financieras, se les recomienda realizar cambios en las estrategias de negocio para el sector PYMES, así como la capacitación de los funcionarios bancarios en medios de pago internacional para lograr mayor frecuencia en el uso de esta herramienta. Adicionalmente, a los organismos del Estado, se les recomienda difundir, promover y fomentar los programas que mantienen con el Estado para el apoyo en el crecimiento de las pequeñas empresas exportadoras. Asimismo, se recomienda a las instituciones académicas y centros de formación realizar cursos y capacitaciones basados en las prácticas y vivencias de las PYMES peruanas, referidas a las barreras que enfrentan día a día. / In order to understand the difficulties faced by small exporting and importing companies and achieving international expansion, the main objective of this study is to identify the factors that limit the use of the letter of credit in the business stratum of small companies. For this, four limiting factors related to the use of the letter of credit were identified and based on the pre-established theoretical framework of the, which are: High prices, lack of knowledge, limitations in access to the financial system, bureaucracy in the documentary process and informality in small companies, which was reconsidered in the research process, agreeing on the bureaucracy factor in the documentary process For this reason, an exploratory qualitative research was carried out, with a grounded theory design, in order to collect information based on the knowledge, experiences, experiences and opinions of 18 participants. With a sample of 12 small exporting and importing companies and 6 interviews with experts. Likewise, it is intended to achieve a change in their customs, current habits or decisions in the research topic. In the first instance, three important factors for the investigation were raised through the research plan. However, when starting the content validation, information gathering and according to the results of the AtlasTi program, a fundamental factor was identified that had not been considered at the beginning of the investigation, the factor high prices in the use of financial instruments of commerce exterior "Letter of credit". For this reason, the existence of four factors was determined and as the main objective to know the factors that limit the use of letters of credit in small exporting and importing companies of Metropolitan Lima, 2019. In addition, the initial hypothesis statement which is facing the difficulties faced by small exporting and importing companies to limit the use of the letter of credit in their foreign trade operations are the lack of knowledge in foreign trade financial instruments, in addition to the existing barriers to access to the financing to the MIPYMES sector. Which have managed to understand the obstacles that companies in this sector face, finally, the conclusions and recommendations have been described according to the analysis of the results. For the first objective of the present investigation; Perception about the costs of the letter of credit that small exporting and importing companies of Metropolitan Lima have, this factor is very important when deciding to use this instrument in their international operations, they consider that the commissions in its issuance are high, as well as having little information and advice for letter of credit has led to little use of the letter of credit. However, this international payment method opens up a number of financial opportunities, allowing these benefits to reduce costs in other financing, as well as providing security and support in your international commercial transactions. On the other hand, the second objective of the study, degree of knowledge in the handling of letters of credit in small exporting and importing companies of Metropolitan Lima, confirms that there is a lack of knowledge in letters of credit, as well as the little diffusion that It is given by the officials of the banking entities in offering the letter of credit, although there are state institutions that provide information related to the letter of credit, it is not well known by the SME segment, as well as the ignorance that is has respect to the advantages and benefits of using the letter of credit. For the third objective of the study, on the difficulties faced by small exporting and importing companies of Metropolitan Lima, barriers that financial institutions present to small companies when requesting a letter of credit were identified, such as: excess of guarantees, few years of incorporation, banking experience, lack of financial documentation, administrative and financial knowledge, high percentage of informality, mean that the SME sector does not have access to a more formal and secure means of payment. For the fourth objective on the administrative processes that the small exporting company of Metropolitan Lima goes through to request the letter of credit, it is confirmed that there are excessive procedures when requesting financing with a letter of credit, according to the present investigation, there is controversy between the specialists and small companies, because these segments do not agree with the existence of bureaucracy in the documentary process, it is deduced in the present investigation the difficulties and inconveniences in the documentary process are in the majority by the SME segment. Continuous training for small businesses is recommended to achieve proper business management and have suitable information for financial institutions. In addition, financial institutions are recommended to make changes in business strategies for the SME sector, as well as training bank officials in international means of payment to achieve greater frequency in the use of this tool. Additionally, State agencies are recommended to disseminate, promote and encourage the programs they maintain with the State to support the growth of small exporting companies. Likewise, academic institutions and training centers are recommended to carry out courses and training based on the practices and experiences of Peruvian SMEs, referring to the barriers they face every day. / Tesis

This thesis describes basis of blockchain technology implementation for SAP Cloud platform with emphasis to security and safety of critical data which are stored in blockchain. This diploma thesis implements letter of credit to see and control business process administration. It also compares all the possible technology modification. Thesis describes all elementary parts of software which are necessary to implement while storing data and secure integrity. This thesis also leverages ideal configuration of each programable block in implementation. Alternative configurations of possible solutions are described with pros and cons as well. Another part of diploma thesis is actual working implementation as a proof of concept to cover letter of credit. All parts of code are design to be stand alone to provide working concept for possible implementation and can source as a help to write productive code. User using this concept will be able to see whole process and create new statutes for whole letter of credit business process.

Bank demand guarantees have become an established part of international trade. Demand guarantees, standby letters of credit and commercial letters of credit are all treated as autonomous contracts whose operation will not be interfered with by courts on grounds immaterial to the guarantee or credit itself. The idea in the documentary credit transaction/demand guarantee transaction is that if the documents (where applicable) presented are in line with the terms of the credit/guarantee the bank has to pay, and if the documents do not correspond to the requirements, the bank must not pay. However, over the years a limited number of exceptions to the autonomy principle of demand guarantees and letters of credit have come to be acknowledged and accepted in practice. In certain circumstances, the autonomy of demand guarantees and letters of credit may be ignored by the bank and regard may be had to the terms and conditions of the underlying contract. The main exceptions concern fraud and illegality in the underlying contract. In this thesis a great deal of consideration has been given to fraud and illegality as possible grounds on which payment under demand guarantees and letters of credit have been attacked (and sometimes even prevented) in the English, American and South African courts. It will be shown that the prospect of success depends on the law applicable to the demand guarantee and letter of credit, and the approach a court in a specific jurisdiction takes. At present, South Africa has limited literature on demand guarantees, and the case law regarding the grounds upon which payment under a demand guarantee might be prevented is scarce and often non-existent. In South Africa one finds guidance by looking at similar South African case law dealing with commercial and standby letters of credit and applying these similar principles to demand guarantees. The courts, furthermore, find guidance by looking at how other jurisdictions, in particular the English courts, deal with these issues. Therefore, how the South African courts currently deal/should be dealing/probably will be dealing with the unfair and fraudulent calling of demand guarantees/letters of credit is discussed in this thesis. / Jurisprudence / LL.D

Bank demand guarantees have become an established part of international trade. Demand guarantees, standby letters of credit and commercial letters of credit are all treated as autonomous contracts whose operation will not be interfered with by courts on grounds immaterial to the guarantee or credit itself. The idea in the documentary credit transaction/demand guarantee transaction is that if the documents (where applicable) presented are in line with the terms of the credit/guarantee the bank has to pay, and if the documents do not correspond to the requirements, the bank must not pay. However, over the years a limited number of exceptions to the autonomy principle of demand guarantees and letters of credit have come to be acknowledged and accepted in practice. In certain circumstances, the autonomy of demand guarantees and letters of credit may be ignored by the bank and regard may be had to the terms and conditions of the underlying contract. The main exceptions concern fraud and illegality in the underlying contract. In this thesis a great deal of consideration has been given to fraud and illegality as possible grounds on which payment under demand guarantees and letters of credit have been attacked (and sometimes even prevented) in the English, American and South African courts. It will be shown that the prospect of success depends on the law applicable to the demand guarantee and letter of credit, and the approach a court in a specific jurisdiction takes. At present, South Africa has limited literature on demand guarantees, and the case law regarding the grounds upon which payment under a demand guarantee might be prevented is scarce and often non-existent. In South Africa one finds guidance by looking at similar South African case law dealing with commercial and standby letters of credit and applying these similar principles to demand guarantees. The courts, furthermore, find guidance by looking at how other jurisdictions, in particular the English courts, deal with these issues. Therefore, how the South African courts currently deal/should be dealing/probably will be dealing with the unfair and fraudulent calling of demand guarantees/letters of credit is discussed in this thesis. / Jurisprudence / LL.D

Plus de soixante-quinze ans après la création des Règles et usances uniformes relatives aux crédits documentaires par la Chambre de commerce internationale, pouvons-nous parler d'un véritable succès international de la lettre de crédit commerciale à titre d'instrument de paiement fiable et sécuritaire ? Nonobstant sa triple finalité et l'application formaliste de ses principes d'incessibilité, de stricte conformité et de double autonomie qui ont su, au cours des années, répondre aux besoins résultant de l'évolution du commerce international, il nous semble utopique de parler d'un tel succès. Mais pourquoi ? Confrontées aux réglementations nationales ainsi qu'aux pratiques nationalistes et protectionnistes des états qui ont pourtant adhéré aux Règles et usances relatives aux crédits documentaires, la malléabilité de ces règles semble avoir dénaturé la lettre de crédit commerciale de ses principaux attributs. À cet égard, nous pouvons nous demander si la lettre de crédit commerciale est une facilité de crédit désuète ou incomprise ? La présente thèse est le fruit de maintes réflexions sur les problèmes liés à l'application et l'interprétation de la lettre de crédit commerciale à titre d'instrument international et plus particulièrement sur les lacunes des Règles et usances uniformes relatives aux crédits documentaires. / More than seventy-five years after the creation of the Uniform Customs and Practice for Documentary Credits by the International Chamber of Commerce, can we talk about a true international success of the commercial letter of credit as a reliable and secured instrument of payment? Notwithstanding its triple functions and the formalistic application of its principles of non-assignability, of strict compliance and of dual autonomy, which have answered the needs resulting from the evolution of international commerce, it seems unrealistic to talk about such success. But why? Confronted with the national regulations as well as nationalist and protectionist practices of the states which have nevertheless ratified the Uniform Customs and Practice for Documentary Credits, the malleability of those rules seems to have been misrepresented of the principal attributes of the commercial letter of credit. ln that respect, we can ask ourselves if the commercial letter of credit is an outdated or misunderstood credit facility? The present thesis is the fruit of many reflections on the problems linked with the application and the interpretation of the commercial letter of credit as an international instrument of payment and more particularly, on the gaps of the Uniform Customs and Practice for Documentary Credits.

Plus de soixante-quinze ans après la création des Règles et usances uniformes relatives aux crédits documentaires par la Chambre de commerce internationale, pouvons-nous parler d'un véritable succès international de la lettre de crédit commerciale à titre d'instrument de paiement fiable et sécuritaire ? Nonobstant sa triple finalité et l'application formaliste de ses principes d'incessibilité, de stricte conformité et de double autonomie qui ont su, au cours des années, répondre aux besoins résultant de l'évolution du commerce international, il nous semble utopique de parler d'un tel succès. Mais pourquoi ? Confrontées aux réglementations nationales ainsi qu'aux pratiques nationalistes et protectionnistes des états qui ont pourtant adhéré aux Règles et usances relatives aux crédits documentaires, la malléabilité de ces règles semble avoir dénaturé la lettre de crédit commerciale de ses principaux attributs. À cet égard, nous pouvons nous demander si la lettre de crédit commerciale est une facilité de crédit désuète ou incomprise ? La présente thèse est le fruit de maintes réflexions sur les problèmes liés à l'application et l'interprétation de la lettre de crédit commerciale à titre d'instrument international et plus particulièrement sur les lacunes des Règles et usances uniformes relatives aux crédits documentaires. / More than seventy-five years after the creation of the Uniform Customs and Practice for Documentary Credits by the International Chamber of Commerce, can we talk about a true international success of the commercial letter of credit as a reliable and secured instrument of payment? Notwithstanding its triple functions and the formalistic application of its principles of non-assignability, of strict compliance and of dual autonomy, which have answered the needs resulting from the evolution of international commerce, it seems unrealistic to talk about such success. But why? Confronted with the national regulations as well as nationalist and protectionist practices of the states which have nevertheless ratified the Uniform Customs and Practice for Documentary Credits, the malleability of those rules seems to have been misrepresented of the principal attributes of the commercial letter of credit. ln that respect, we can ask ourselves if the commercial letter of credit is an outdated or misunderstood credit facility? The present thesis is the fruit of many reflections on the problems linked with the application and the interpretation of the commercial letter of credit as an international instrument of payment and more particularly, on the gaps of the Uniform Customs and Practice for Documentary Credits.

國際貿易實務上，「信用狀」係往來銀行提供信用狀擔保付款之模式，確保跨國貿易之順利完成、加速貿易進行，為當今世界重要付款方式。「信用狀統一慣例（UCP）」係國際商會（ICC）制定之信用狀交易實務慣例，自1933年首次頒布以來，目前已成為全世界公認遵行之信用狀標準處理方針。2007年，國際商會公佈最新修訂版本之第600號出版物“UCP 600”，明定因應銀行及航運實務發展、檢討UCP 500之規範文字及語體、抑制銀行拒絕付款率等為主要修訂目標。 鑑於UCP 600對於未來國際貿易發展之影響力，實有全面且深入研究UCP 600條款內容及規範目的之必要。本文以UCP 600新增定義解釋條款、審查單據條款、及運送單據條款為研究主題，透過闡釋條文涵義、比較與UCP 500之差異、探究新條款影響、檢討修訂目標之成效等，俾使信用狀當事人及相關銀行正確理解及適用UCP 600條款內容。 本文首先介紹信用狀之特性、經濟功能及信用狀統一慣例之定位適用等基本概念；其次從文義解釋、法律性質及當事人間法律關係等觀點切入，闡釋UCP 600本次新增之定義及解釋條款；並研究銀行實務最常發生爭議之審查單據程序，詳盡分析UCP 600規定之審單標準、符合提示、拒付瑕疵單據等重要條款。此外，本文探討UCP 600所規定國際航運常見之提單、多式運送單據、不可轉讓海運單及傭船提單等運送單據條款。最後，本文針對UCP 600條款之重要修訂內容予以彙整，嘗試提出該等條款之修正趨勢及未來發展。 / In international trade practice, “letter of credit”which is the most important type of payment in the world is the means of settlement that an issuing bank independently undertake to honour a complying presentation , and that ensures international trade to successfully completed, and speeded up the transactions.“ICC Uniform Customs and Practice for Documentary Credit(UCP)”is the rules of international letter of credit practice promulgated by the Commission on Banking Technique and Practice of the International Chamber of Commerce(ICC).The 2007 Revision, UCP 600, is the latest of a series of revisions of these ICC rules that date from 1933 and have in their evolution become the universal norm for commercial letter of credit. The introduction of UCP 600 expressly indicated the main revised objective was to address developments in banking and transport industries, to look at the language and style used in UCP 500, and to reduce the rejections of the documents presented under letter of credit. In consideration of the influence of UCP 600 for the development of international trade in the future, it was necessary to generally and deeply research the clauses and provisions of UCP 600 and the revised objective. This paper’s research subjects include the formal definitions and interpretations of UCP 600, the provision regarding examination of documents, and the provisions regarding transport documents. In order to make the parties of letter of credit and the relevant banks correctly understand and apply the UCP 600 clauses, this paper interprets the meaning of UCP 600 clauses, compares the differences between UCP 600 and UCP 500, analyses the influence of new provisions, and look at the achievements of this revision. This paper first introduces the fundamental concepts included the characteristic of letter of credit, the economic functions of letter of credit, and the position and application of UCP 600.The second part is to discuss the formal definitions and interpretations that UCP 600 new formulated from the perspectives of language interpretation, quality of law, and the law relationship of the parties. Then this paper discusses the rules for the examination of documents that most controversial in banking industries, and analyses the important provisions regarding standard for examination of documents, complying presentation, and rejection of discrepant documents. Moreover, this paper is referring to the general transport documents clauses stipulated in UCP 600, including bill of lading, multimodal transport document, non-negotiable sea waybill, and charter party bill of lading. Finally, this paper synthesizes the significant revised provisions, and recommends several suggestions about modifying the relevant provisions in UCP 600 and development in the future.

Ericsson has recently experienced difficulties to meet the customer demand, which has led to lost market shares. This is mainly due to the long and unpredictable lead times within their supply chains. Therefore, Ericsson seeks to increase their ability to meet the customer demand by reducing the customer order lead time. A shorter lead time would imply a greater responsiveness and improved service level towards the customers. A directive from the company was to base the study on the supply chain for the customer Algeria Telecom Mobile. The purpose of the study is to give recommendations for improvements that reduce the total lead time in a supply chain perspective in order to improve the customer service level.  To be able to fulfill the purpose, four objectives were distinguished and supported with existing frameworks for analyzing supply chains. The first step was to create a current state map, which was achieved by conducting 24 interviews with people working within the supply chain. The second step was to identify potentials for lead time reduction. This was done by categorizing the supply chain parts and the problems that were gathered during the current state mapping into meaningful groups, and thereafter prioritize the categories with the greatest potential. The third step was to generate alternative solutions by conducting a second literature review based on the potentials that was identified during the prior step. The general solutions were later modified in order to fit the current supply chain. It resulted in eight Ericsson specific solutions. The fourth step was to evaluate these solutions in combination, which led to a recommended combination of solutions that provided the greatest lead time reduction. Also the requirements for implementing these solutions were presented in this step.  The recommendation for Ericsson is to rearrange their current supply chain for the studied customer and use two different supply chains; the Regional supply chain and the Alternative supply chain. The two arrangements will both be based on the implementation of a supply hub, which implies a movement of the customer order decoupling point closer to the customer. The Regional supply chain will cover the main flow and be used when the customer orders products from a product portfolio that has been agreed within the region. The Alternative supply chain will act as a complement and cover the flow of products outside the regional product portfolio.   The estimated customer order lead time for the Regional supply chain is 17 days, which is a reduction of 80 % in the normal case for the studied supply chain. The lead time for the Alternative supply chain is more difficult to estimate precisely, but it will be reduced in comparison with the current situation. Moreover, the service level towards the customer will be increased for both the Regional and the Alternative supply chain. To summarize the recommendations that are forwarded to Ericsson, they are listed below:  <li data-listid="34" data-aria-posinset="15" data-aria-level="1">Implement a regional supply hub  <li data-listid="34" data-aria-posinset="15" data-aria-level="1">Agree on a regional product portfolio  <li data-listid="34" data-aria-posinset="15" data-aria-level="1">Implement time slots for inbound flows  <li data-listid="34" data-aria-posinset="15" data-aria-level="1">Use BPO as a payment method instead of Letter of Credit  <li data-listid="34" data-aria-posinset="15" data-aria-level="1">Use a CIP, DAP or DAT Incoterm  <li data-listid="34" data-aria-posinset="15" data-aria-level="1">Implement a product configurator and let the customer place orders on commercial descriptions or a solution id.  <li data-listid="34" data-aria-posinset="15" data-aria-level="1">Integrate processes and activities throughout the supply chain and establish a greater information exchange.