Letter of Credit: Saatnya Perdagangan Internasional beralih ke Dokumen Digital dengan eUCP

Zuhri Ruslan

Abstract


International trade still heavily relies on paper, which is painfully time-consuming. The inefficient process improved by changing the paper documents into digital electronic documents. The research aims to investigate and analyze the electronic Uniform Customs Practice (eUCP) as a legal base for using electronic documents in Letter of Credit (LC) in international trade. The method employed was document analysis and is an explanatory research. The research reveals that document digitalization increases the effectiveness of the LC process. However, the bill of exchange, the bill of lading and certificate of origin cannot be digitalized in current circumstances.

Keywords


International Trade; Risk; Digitalization

Full Text:

PDF

References


Aladwan, Zaid. 2021. “Fraud in Letters of Credit under English Law: Issues and Cases (the Three Dimensions).” in Criminology and Post-Mortem Studies - Analyzing Criminal Behaviour and Making Medical Decisions.

Al-Amaren, Emad Mohammad, Che Thalbi Md. Ismail, and Mohd Zakhiri Nor. 2020. “The Blockchain Revolution A Game-Changing in Letter of Credit (LC).Pdf.” International Journal of Advanced Science and Technology 29(3):6052–58.

Alavi, Hamed. 2015. “Autonomy Principle and Fraud Exception in Documentary Letters of Credit, a Comparative Study between United States and England.” International and Comparative Law Review 15(2):47–68. doi: 10.1515/iclr-2016-0035.

Alavi, Hamed. 2016. “Documentary Letters of Credit, Legal Nature and Sources of Law.” Journal of Legal Studies 17(31):106–21. doi: 10.1515/jles-2016-0012.

Anon. 2021. “Tradefinance.Training.” Retrieved August 20, 2022 (https://www.tradefinance.training/blog/articles/eucp-versions-history-and-comparison/).

Chang, Shuchih Ernest, Hueimin Louis Luo, and YiChian Chen. 2019. “Blockchain-Enabled Trade Finance Innovation: A Potential Paradigm Shift on Using Letter of Credit.” Sustainability 12(1):188. doi: 10.3390/su12010188.

CheHashim, Rosmawani, and Nurul Shahnaz Mahdzan. 2014. “Fraud in Letter of Credit Transactions: The Experience of Malaysian

Bankers.” International Journal of Law, Crime and Justice 42(3):224–36. doi: 10.1016/j.ijlcj.2014.01.008.

Civelek, Mustafa Emre, and Nedret Seçkin. 2017. “Paperless Trade: Evaluation of the Current Situation & towards the Integrated Single Foreign Trade Document.” Journal of Management Research 9(2):1. doi: 10.5296/jmr.v9i2.10669.

Civelek, Mustafa Emre, Nagehan Uca, and Murat Çemberci. 2015. “EUCP and Electronic Commerce Investments: E-Signature and Paperless Foreign Trade.” 3:11.

Emmert, Frank. 2019. “The Documentary Sale 2-4 Financing and Payment Contracts.Pdf.” doi: 10.13140/RG.2.2.31792.92166.

Khalil, Munaf Asad, and Laoucine Kerbache. 2021. “Digitizing Trade Finance Using Blockchain Technology Illustration of Letter of Credit Process.” P. 12 in.

Kowalski, Michał, Zach W.Y.Lee, and Tommy K.H.Chan. 2021. “Blockchain Technology and Trust Relationships in Trade Finance.” Technological Forecasting and Social Change 166. doi: /10.1016/j.techfore.2021.120641.

Morissan. 2019. Riset Kualitatif. First. Indonesia: Kencana.

Muse, Mo. 2021. “4 Benefits of The Electronic Bill of Lading That Should Increase Utilisation.” Bolero (WiseTech Global Group). Retrieved August 21, 2022 (https://www.bolero.net/digitisation/4-benefits-of-electronic-bills-of-lading-that-will-increase-ebl-utilisation/).

Muse, Mo. 2022. “EBLs; the Decades Old Innovation Changing Today’s Game.” Bolero (WiseTech Global Group). Retrieved August 21, 2022 (https://www.bolero.net/blog/electronic-bills-of-lading-the-decades-old-innovation-changing-todays-game/).

O’Leary, Z. 2014. The Essential Guide to Doing Your Research Project (2nd Ed.). SAGE Publications, Inc.

Susan, Enyang Besong, and Manases Mbengwor Natu. 2022. “A Critical Review of Information Asymmetry in the Business Cycle: How Digital Ledger Technology Can Transform and Sustain the Business Cycle” edited by J. Uribe Toril. PLOS Sustainability and Transformation 1(7):e0000024. doi: 10.1371/journal.pstr.0000024.

Takahashi, Koji. 2018. “Blockchain Technology for Letters of Credit and Escrow Arrangements.Pdf.” Banking Law Journal 135(2):89–103.

Umar, Husein. 2019. Metode Riset Manajemen Perusahaan. Jakarta: PT Gramedia Pustaka Utama.




DOI: https://doi.org/10.17509/jrak.v11i2.49839

Refbacks

  • There are currently no refbacks.


Creative Commons License

Jurnal Riset Akuntansi dan Keuangan  is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

View My Stats