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FAST LC:
ENTHUSIASM
OR RELUCTANCE? |
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International Debate on Whether Fast LC's
Progress Fast or Slow
The new development in the LC world? Fast or
electronic LC. The resultant new hope in the trade world? Trade facilitation
and acceleration. But are users and suppliers of LC enthusiastic or
reluctant to adopt new form of LC? The fast LC works fast, no doubt - but is
it selling fast? What are the factors that moderate or accelerate use of
fast LC?
www.lcviews.com
debates these questions. The editor Ravi Mehta
chairs the online debate.
[February 2006]
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International debate on Fast LC
DOES FAST LC HAS SLOW
SUCCESS?
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T O. Lee,
LC Consultant
IN HONG KONG AND CANADA
Not Proactive in Electronic Trade
"In both Hong Kong and Canada, most banks are not
proactive in developing electronic trade, including e-LC....read
more" |
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N D George
IN BAHRAIN (MIDDLE EAST)
No Patience With Paper Work
"Bahrain is fast in adopting
technology. In fact it was the first in the gulf to develop banking
... read more" |
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Soh Chee Seng,
Technical Adviser
IN
SINGAPORE
Bankers and traders are not slow
"The three local banks in
Singapore have provided their electronic platform ...
read more" |
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Kim Christensen,
Trade Finance Specialist
IN DENMARK
Lack of Success With E-UCP
"Because of lack of success with e-UCP many
companies have been very reluctant to discuss even the "electronic LC",
as they don't believe in electronic documents ...
read more". |
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Jia Hao, Finance
Product Manager, Bank of China, China
IN CHINA
Wishful Thinking
"..when an advising bank receives a LC through
SWIFT, it prints it and gives a paper advice to the beneficiary...
read more" |
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Abdulkader Bazara, Product Manager, Samba Financial Group, Saudi Arabia
IN SAUDI ARABIA
Slow and Steady
"Al-most all banks in Saudi Arabia provide or on the
way of launching on-line letters of credit services ...read
more" |
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A Majid
Habib, Managing Director, Mid-Link Group, U. A. E.
IN U.A.E.
TRADER'S DILEMMA
"What the trader wants his banker does not sell
... read more" |
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Marek
Dubovec, Trade Law Expert, USA
LATIN AMERICA and EASTERN EUROPE
Slower than Expected
"Every part of the world is
adapting to electronic ways of trading slower than expected ...
read more" |
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Claire
Buchanan, Senior Vice President, Global Field Operations, Bolero
VENDOR'S GLOBAL PERCEPTION
Rapidly Increasing Momentum
"Bolero has been perfecting its BoleroApply and
Advise solution set ... read more" |
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Nicole Keller, Manager, Documentary and Credit
Service, Dresdner Bank AG, Frankfurt
GERMANY
Electronic Credits are not on top of the
agenda
"The percentage of cross border
trade transactions that involve instruments of documentary business is
constantly decreasing ...
read more"
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