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| Author: | Avbreht, A. |
| Title: | International business law |
| Journal: | Bancni vestnik
1996 : VOL. 45:6, p. 2-9 |
| Index terms: | |
| Freeterms: | international business law, international business, risk, liabilities, insurance, banking, guarantee, bills of exchange, stand-by letter, rules, analysis |
| Language: | slv |
| Abstract: | Anybody concerned with international business law is aware of the special regulations, which differ from those governing an internal legal system of a single state.With regard to risk which is taken by companies when performing business with partners from another legal system, we can understand their tendency to acquire efficient payment instruments and payment guarantees.In Europe bank guarantees have been among those most widely used.However, in American legislature a system of payment guarantees called a stand-by letter of credit has been developed.Parallel to the development of guarantees commercial banks have acquired the role of guarantors.Due to strict banking legislature existing in most of the states, there is much less risk of default in banks than in companies.Today it is even more important for the state to have a sound banking system since banks constitute an integral part of any complex business transaction. |
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