ICC Digital Library Forum

Dear colleagues,

I am preparing myself for a seminar on new developments in Letters of Credit. eUCP and electronic credit would be also among topics. I would very much like to learn about any of your experience with e-L/C, eUCP etc. Any "real" cases, experience etc.? Thank you.

Pavel,

Nothing to report, I'm afraid. Give it 10 years and I might have something for you.

Jeremy

Thank you for comment, I am getting to be worried about my seminar - nothing real to talk about! I hope Jeremy that we would need less then 10 years!

Pavel Andrle

Pavel,

I was probably being optimistic!

Jeremy

Hello Jeremy,

I see that I am more "optimistic" than you are. I am now working for a bank which is a local leader in the field of electronic banking. However having seen the results of DC PRO Survey, I believe that the banks are still working or will be working on the Internet interfaces for trade finance etc., so to talk about "the whole electronic letter of credit chain solution" is a bit premature for these days.

My opinion is that there will be no electronic L/C till WE make it.

Thank you,

Pavel Andrle

Hi to Pavel and Jeremy

I'm not quite as pessimistic/optimistic as Jeremy -- I think that we will be seeing electronic documents presented under credits within about 5 years, and that it will be the developing countries that will push us old Europeans into the new fangled processes. After all, with the advent of wireless internet, it will be much cheaper and faster for developing countries to use those techniques than having to put a physical infrastructure into place for making and forwarding paper documents. But then maybe I'm a dreamer.

Tell me, do you know the difference between a pessimist and an optimist ?
An optimist is a happy idiot --
A pessimist is an unhappy idiot.

Have nice holidays and will see you online when I get back in January

Judith

Thank you Judith for your interesting posting.

I am of the same opinion - that the developing countries will be the pushers for the change.....but I was a bit slow to admit this....

Thank you,

Pavel Andrle

Pavel,

there is an expression which says "You can lead a horse to water, but you can't make him drink."
eUCP has led the horse to drink from ecommerce, but this horse is unwilling. This does not mean that they see something wrong with eUCP specifically, but the legal implications of reliance on electronic replacements for standard documents of international trade is still largely untested in the courts in many countries.

Laurence

Neighhhhhhhhhhhhhhhhhhhh!