Factors Contributing To The Use Of Commericial Letter (S) Of Credit On International Business Transaction(S): A Case Of Manufacturing Industries In Kenya
The use of letters of credit has become a very important aspect of international trade due to the nature of international dealings including factors such as distance, differing laws in each country and difficulty in knowing each party personally. The LC therefore helps both the importers and exporters in the sense that the importer will be waved the liability of incurring bad debts and on the other hand the exporter is saved the fear of losing his money when dealing with the importer directly. It is therefore a hedging and also the most sophisticated payment. This study attempted to establish factors contributing to the use of Letter of credit in international business aspiring to address the objectives which touches on the impact of exporter/importer standing bank credibility and its association to using the LC, explore the extend on the bank inefficiencies and the central bank policies contributing to the LC ,how the bank financing to the company contributes to the application of the LC method and finally ascertain which risks and challenges are a major concern to pushing the use of LC. The study targeted forty Companies from the manufacturing sector in Kenya considering industries on areas of Plastics and Rubber, Chemicals and Allied, Building, Mining and Construction, Food and Beverages and Pharmaceuticals and Medical Equipment’s considered to be using LC for its payments. Simple random sampling technique was used in this study to enable equal chances of all the targeted companies being selected. The study also used respondents with expertise in this area of study to answer questions being financial controllers, procurement or logistics manager and directors. The primary data was collected using structured interviews and questionnaires which were then analyzed using statistics, Graphs and pie charts. Summary of the findings was discussed and recommendations made.
The International Herald Tribune: The First Hundred Years
A history of the venerable journalism institution whose readers have included turn-of-the-century Parisian elites, World War I doughboys, Jazz Age American expatriates, and today's international travelers and leaders.
Computer Simulation Modeling
Computer simulation as a research methodology is presented as the intersection of modeling, simulation, and computer analysis. Five component parts of simulation models are identified: input variables, output variables, assumptions, algorithms, and parameters. Computer simulation (CSM) has two primary uses for those interested in the study of organizations or who work within them: theory development and policy planning. The advantages and disadvantages of CSM for each of these purposes are examined and recent examples for each are explored.