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Sankalp Jain - One of the best experts on this subject based on the ideXlab platform.
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commercial instruments Bank Guarantee and letter of credit
Social Science Research Network, 2014Co-Authors: Sankalp JainAbstract:The paper examines the nature and scope of Bank Guarantee system and letter of credit in India. This paper is a doctrinal study which covers the law relating to the Bank Guarantees particularly embodied in the Indian Contract Act 1872, highlights the economic functions and benefits of the Bank, explains the various types of Guarantees issued by the Banks in India. This paper further discusses the nature, scope, details, structure and troubles of a letter of credit. It highlights the imbalance of the rights and duties of the parties in a letter of credit transaction by emphasising deficiencies in the letters of credit system. It discusses how the risk of the innocent buyer has increased and very often the buyer is paying for the goods he had not contracted for and also throws light on the independence principle and the doctrine of documentary compliance.
Henry Silke - One of the best experts on this subject based on the ideXlab platform.
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base superstructure and the irish property crash towards a crisis theory of communications
tripleC: Communication Capitalism & Critique. Open Access Journal for a Global Sustainable Information Society, 2015Co-Authors: Henry SilkeAbstract:Since the onset of the “great recession” there have been key debates around various aspects of crisis theory, most notably around the areas of the rate of profit ( Brenner 2009 ; Kliman 2012 ), under-consumption/overproduction ( Clarke 1990a , 442–467) and fiancialisation ( Dumenil and Levy 2004 ). This paper maintains that communications and the media are key though non-deterministic elements of the contemporary market system, and proposes a move towards a crisis theory of communications. This research reflects the Marxist concept of base and superstructure, beyond a perceived notion of economic determinism, but rather as a dialectical relationship between various superstructures, in this case the state and the media, and the economic base including the various aspects of class power inherent within. The mass media, advertising, and ICT play an increasingly important role in both market systems and capitalist crises. This role directly impinges on the dissemination of information to market actors as well as the reflexive and dialectical nature of the processes by which actors respond to market information. Further, the media serve as an ideological apparatus, resource or arena, which acts to naturalise the market through what this research describes as a market orientated framing mechanism ( Preston and Silke 2011b ). Peter Thompson ( 2003 ; 2013 , 208–227) contends that communication is an integral and reflexive part of the contemporary market system. As he puts it, there is a complex relationship between the producers and distributors of economic information, and those who use that information to make decisions about investment and trade. Many studies point to the convergence of flows of information such as those on 24-hour news channels, business channels and Internet blogs and sites with market activity itself. For Wayne Hope, ( 2010 , 649–669) information broadcast on such media by Bankers, stockbrokers and traders themselves tends to be self-serving and inevitably leads to “a real time feedback loop that proliferates then contributes to the growth and collapse of speculative bubbles” [ibid, 665]). Finally, we must note how the mass media also play a pervasive and important role in the commodification process through advertising and indeed comprises a part of the circulation of capital itself ( Garnham 1979 , 122–146; Fuchs 2009b , 369–402; Fuchs 2009a ). This paper, by way of example, looks at three key moments in the Irish economic crisis and briefly looks at their treatment by sections of the press: The Irish property market on the run up to the 2007 general election on the cusp of the Irish crash, the blanket Bank Guarantee of 2008, where the state effectively Guaranteed the debts of the entire Irish Banking system in its totality, and finally the introduction of the National Asset Management Agency, a state sponsored bad Bank aimed at cleaning up the (then) private Banking industry. The paper uses these examples to consider the role of the media and its relationship to both the markets and political policy.
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base superstructure and the role of journalism in the irish property crash towards a crisis theory of communications
2015Co-Authors: Henry SilkeAbstract:Since the onset of the "great recession" there have been key debates around various as- pects of crisis theory, most notably around the areas of the rate of profit (Brenner 2009; Kliman 2012), under-consumption/overproduction (Clarke 1990a, 442-467) and fiancialisation (Dumenil and Levy 2004). This paper maintains that communications and the media are key though non-deterministic elements of the contemporary market system, and proposes a move towards a crisis theory of com- munications. This research reflects the Marxist concept of base and superstructure, beyond a per- ceived notion of economic determinism, but rather as a dialectical relationship between various super- structures, in this case the state and the media, and the economic base including the various aspects of class power inherent within. The mass media, advertising, and ICT play an increasingly important role in both market systems and capitalist crises. This role directly impinges on the dissemination of information to market actors as well as the reflexive and dialectical nature of the processes by which actors respond to market information. Further, the media serve as an ideological apparatus, resource or arena, which acts to naturalise the market through what this research describes as a market orien- tated framing mechanism (Preston and Silke 2011b). Peter Thompson (2003; 2013, 208-227) con- tends that communication is an integral and reflexive part of the contemporary market system. As he puts it, there is a complex relationship between the producers and distributors of economic infor- mation, and those who use that information to make decisions about investment and trade. Many stud- ies point to the convergence of flows of information such as those on 24-hour news channels, busi- ness channels and Internet blogs and sites with market activity itself. For Wayne Hope, (2010, 649- 669) information broadcast on such media by Bankers, stockbrokers and traders themselves tends to be self-serving and inevitably leads to "a real time feedback loop that proliferates then contributes to the growth and collapse of speculative bubbles" (ibid, 665)). Finally, we must note how the mass me- dia also play a pervasive and important role in the commodification process through advertising and indeed comprises a part of the circulation of capital itself (Garnham 1979, 122-146; Fuchs 2009b, 369-402; Fuchs 2009a). This paper, by way of example, looks at three key moments in the Irish eco- nomic crisis and briefly looks at their treatment by sections of the press: The Irish property market on the run up to the 2007 general election on the cusp of the Irish crash, the blanket Bank Guarantee of 2008, where the state effectively Guaranteed the debts of the entire Irish Banking system in its totality, and finally the introduction of the National Asset Management Agency, a state sponsored bad Bank aimed at cleaning up the (then) private Banking industry. The paper uses these examples to consider the role of the media and its relationship to both the markets and political policy.
Martin Favart - One of the best experts on this subject based on the ideXlab platform.
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the president of the eu general court lifts obligation to provide a Bank Guarantee westfalische drahtindustrie papus industrie beteiligungen
e-Competitions Bulletin, 2011Co-Authors: Martin FavartAbstract:On 13 April 2011, the President of the General Court (“GC”) suspended the execution of the fining decision of the European Commission against Westfalische Drahtindustrie GmbH, Westfalische…
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the eu general court suspends obligation to provide Bank Guarantee for a fine in calcium carbide and magnesium reagents cartel garantovana
e-Competitions Bulletin, 2011Co-Authors: Martin FavartAbstract:On 2 March 2011, the President of the General Court issued an order suspending an obligation on the Slovak company 1. garantovana a.s. (“Garantovana”) to provide the European Commission with a Bank…
Dragos Ilie - One of the best experts on this subject based on the ideXlab platform.
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credits and Bank Guarantee letters in entrepreneurship development during crisis
Amfiteatru Economic, 2015Co-Authors: Dragos IlieAbstract:When the credit crisis started in 2008, a total of 67 entrepreneurs sought advice with the European Centre of Managerial Studies in Business Administration of the Spiru Haret University in Bucharest in order to find alternatives to finance classic loans that could enable them perform their activity. Based on these requirements, the paper aims to identify the impact of the crediting and Guarantee instruments employed by entrepreneurs upon the economic-financial indicators and the cash flow. This approach is helpful in the entrepreneurs-Banks relationships framework so that the best Banking instruments be used in the process of entrepreneurship development within a changing business environment. To achieve the research there were identified, from those who sought advice, 43 entrepreneurs active in manufacturing due to the complexity of the crediting and Guarantee instruments used in this field. Data collection and processing has resulted in the determination of cash flow and calculation of the main financial indicators for a five year time interval, indicators that are used by Banks in relation to credited or secured entrepreneurs. The main results indicate that entrepreneurs who have secured business through letters of Guarantee recorded positive cash flows and a better situation of the main economic and financial indicators with positive effects on their relationship with the business community.
Yosi Mandagi - One of the best experts on this subject based on the ideXlab platform.
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PELAKSANAAN Bank GARANSI SEBAGAI SUATU JAMINAN PROYEK PADA PEMBIAYAAN PROYEK PEMERINTAH DI PROVINSI RIAU
'LPPM Universitas Muhammadiyah Riau', 2021Co-Authors: Yosi MandagiAbstract:Banking services and credit, in the form of a Bank Guarantee, one form of an individual Guarantee institution, including a debt Guarantee agreement. Issuance of Bank Guarantees, the Bank takes over Guaranteed obligations if the Guaranteed collateral against the recipient of the Guarantee. So a Bank Guarantee is a form of conditional engagement, the condition of which is a condition where the debtor is declared to have been negligent or defaulted. The issuance of a Bank Guarantee does not Guarantee that the performance charged to the party is Guaranteed, but the Bank Guarantee only Guarantees or covers when the person is Guaranteed to default. To overcome the risk of issuing a Bank Guarantee, the Bank requests the Guaranteed party to provide a "counter Guarantee" which has a minimum cash value equal to the amount of money set as collateral and is listed in the Bank Guarantee.Pelayanan jasa dan kredit perBankan, dalam bentuk Bank Garansi salah satu bentuk lembaga jaminan perorangan, termasuk perjanjian penanggungan hutang. Penerbitan Bank Garansi, pihak Bank mengambil alih kewajiban terjamin bila si terjamin melakukan wanprestasi terhadap penerima jaminan. Jadi Bank garansi merupakan bentuk perikatan bersyarat, yang syaratnya adalah suatu keadaan dimana si berutang dinyatakan telah lalai atau wanprestasi. Penerbitan Bank garansi tidak menjamin akan terlaksananya prestasi yang dibeBankan terhadap pihak terjamin, akan tetapi Bank garansi hanya menjamin atau menanggung manakala si terjamin melakukan wanprestasi. Untuk mengatasi resiko atas pengeluaran Bank Garansi, Bank meminta lebih dahulu kepada pihak yang dijamin untuk memberikan “ jaminan lawan “(counter Guarantee/kontra garansi) yang nilai tunainya sekurangkurangnya sama dengan jumlah uang yang ditetapkan sebagai jaminan dan tercantum di dalam Bank garans
