THE CONTENT OF DOCUMENTARY CREDIT AS A BANK INSTRUMENT THAT CAN ENSURE SECURITY FOR BOTH BENEFICIARY AND APPLICANT
Journal Title: Academic Research International - Year 2016, Vol 7, Issue 3
Abstract
This study aims is to ensure security documentary credit payment method between using ‘with’ or ‘without’ DC and contents. This research is a qualitative study and data collection using literature studies. The results of this studies are the bank will honour the DC payment so long the condition of the presented document by the beneficiary have been complied with DC terms and conditions (Complying Presentation).There are 7 (seven) points contain in the Documentary Credit : 1) Promise to pay ; 2) Payment Obligation Substitution; 3) Complying Presentation; 4) Payment Tenure; 5) Parties ; 6) Time ; 7)Terms and Conditions. They can ensure security for both beneficiary and applicant and mitigate the risk as well as to give security assurance in complying their right and obligation.
Authors and Affiliations
Finny Redjeki, Vip Paramarta, Sudi Rahayu, Muhammad Rizki Fauzi
Keywords
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