Letter of Credit is an international payment instrument whereby the issuing bank undertakes to pay the beneficiary, against presentation of certain stipulated documents, according to the conditions of the Letter of Credit. Discounting of LC for the short-term financing of the seller, due to the independent and irrevocable undertaking of the bank to make payment, is prevalent. Beneficiary gets t...

The Credit Clearing House (CCH) is a division of Dun & Bradstreet (D&B) Business Information Group's Business Credit Services. CCH functions as the arm of Business Credit Services' Product Marketing Group, dedicated to serving the risk management needs of the apparel industry by assigning credit ratings and dollar-specific credit limit recommendations. CCH has several thousand customers that us...

The role of banking and finance in the Golden Age of European growth (1950-1973) is very little known and widely underestimated. This paper studies the French system of economic planning and investment-based strategy that enhanced medium and long-term financing (called “investment credit” at that time). First, I describe the new institutions that were built after WWII to organize credit allocat...

1 Background Credit cards have been widely used in the USA. The industry has matured so much that most households hold many credit cards and most consumers use credit cards as means of payment. They usually maintain their records on credit cards. In the USA, a total amount of credit card balances is about $700 billion. Because of the wide usage of credit cards, the term of cards is becoming a m...

Currently, in Iran's banking system, non-repayment of facilities has become one of the biggest issues, and due to the lack of a proper system for proper allocation of facilities, they face a number of problems, including the problem of allocation of loans, the problem of failure to repay loans Of the central bank, or the amount of facilities increased from the amount of reimbursement. The solut...

This article concerns the problem and its solution in judging fuzzy rule bases according to environmental reinforcements. We porpose an on-line, incremental credit assignment algorithm , which takes environmental reinforcement as input and assigns credit to individual rules. The proposed approach adopts simple updating policy based on recency-weighted average, and demands only small amount of m...

Estimating Recovery Rate and Recovery Amount has become important in consumer credit because of the new Basel Accord regulation and because of the increase in number of defaulters due to the recession. We compare linear regression and survival analysis models for modelling Recovery rates and Recovery amounts, so as to predict Loss Given Default (LGD) for unsecured consumer loans or credit cards...

EcoTRADE is a multi player network game of a virtual biodiversity credit market. Each player controls the land use of a certain amount of parcels on a virtual landscape. The biodiversity credits of a particular parcel depend on neighboring parcels, which may be owned by other players. The game can be used to study the strategies of players in experiments or classroom games and also as a communi...

This paper studies limited commitment and adverse selection in an economy in which private liabilities (inside money) can be used as instruments of intertemporal trade. The results suggest that in conjunction with adverse selection, the limited commitment problem may affect the behavior of intrinsically higher quality debtors more severely than lower quality ones. Nonetheless, a credit economy ...