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The legal implications of electronic letter of credit as a cross border trade payment mechanism : Botswana as a case study
Over the years, the electronic letters of credit evolved as one of the developments to meet the international trade demands coupled with the exponential technology advancements of the current times which whetted an appetite for superfluous trade and competitiveness in the trade industry. Just like l...
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University of Pretoria
2017
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| _version_ | 1867613452243042304 |
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| access_status_str | Open Access |
| author2 | Soyeju, Olufemi Olugbemiga |
| author_browse | Soyeju, Olufemi Olugbemiga |
| author_facet | Soyeju, Olufemi Olugbemiga |
| collection | Thesis |
| dc_rights_str_mv | © 2016 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Over the years, the electronic letters of credit evolved as one of the developments to meet the international trade demands coupled with the exponential technology advancements of the current times which whetted an appetite for superfluous trade and competitiveness in the trade industry. Just like legal discrepancies pursuant to the use of the letter of credit in international trade, this too demanded some legal architecture to govern its utilization. However, unlike the traditional letters of credit, there are more legal stumbling blocks concerning this form of letters of credit. The primary legal constraints being, lack of legal recognition by the courts because of their nature (being data messages); lack of recognition in the laws of contracts (digital signatures, digital contracts), public perception more especially most of the developing countries, who because of lack of technology, resources and skilled man power, lacked knowledge on the advantages of technology advancement.
So, the study interrogates the legal implications of an electronic letter of credit in the international trade transactions using Botswana as a case study. Importantly, it investigates the completeness and sufficiency of the legal regimes in Botswana to enable operation of the electronic letter of credit. The conclusions are that the Botswana e-legislation drafts so far are complete as regard to the legal principles enabling electronic transactions. It also argues that the laws are comprehensive enough, receptive to the electronic documents including the upcoming developments in technology and more importantly, the fact that it provides a level playing field for all the players by protecting the rights of the users of electronic transactions in general. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/58747 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:36:22.373Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2017 |
| publishDateRange | 2017 |
| publishDateSort | 2017 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/58747 The legal implications of electronic letter of credit as a cross border trade payment mechanism : Botswana as a case study Soyeju, Olufemi Olugbemiga dorcusbasimannyana@yahoo.co.uk Basimanyane, Kelebileone UCTD International Trade Digitization Letter of credit Regulatory Framework international trade letter of credit Law theses SDG-16 SDG-16: Peace, justice and strong institutions Law theses SDG-17 SDG-17: Partnerships for the goals Over the years, the electronic letters of credit evolved as one of the developments to meet the international trade demands coupled with the exponential technology advancements of the current times which whetted an appetite for superfluous trade and competitiveness in the trade industry. Just like legal discrepancies pursuant to the use of the letter of credit in international trade, this too demanded some legal architecture to govern its utilization. However, unlike the traditional letters of credit, there are more legal stumbling blocks concerning this form of letters of credit. The primary legal constraints being, lack of legal recognition by the courts because of their nature (being data messages); lack of recognition in the laws of contracts (digital signatures, digital contracts), public perception more especially most of the developing countries, who because of lack of technology, resources and skilled man power, lacked knowledge on the advantages of technology advancement. So, the study interrogates the legal implications of an electronic letter of credit in the international trade transactions using Botswana as a case study. Importantly, it investigates the completeness and sufficiency of the legal regimes in Botswana to enable operation of the electronic letter of credit. The conclusions are that the Botswana e-legislation drafts so far are complete as regard to the legal principles enabling electronic transactions. It also argues that the laws are comprehensive enough, receptive to the electronic documents including the upcoming developments in technology and more importantly, the fact that it provides a level playing field for all the players by protecting the rights of the users of electronic transactions in general. tm2017 Centre for Human Rights LLM Unrestricted 2017-01-31T12:47:58Z 2017-01-31T12:47:58Z 2016 Mini Dissertation Basimanyane, K 2016, The legal implications of electronic letter of credit as a cross border trade payment mechanism : Botswana as a case study, LLM Mini Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/58747> D2016 http://hdl.handle.net/2263/58747 en © 2016 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD International Trade Digitization Letter of credit Regulatory Framework international trade letter of credit Law theses SDG-16 SDG-16: Peace, justice and strong institutions Law theses SDG-17 SDG-17: Partnerships for the goals The legal implications of electronic letter of credit as a cross border trade payment mechanism : Botswana as a case study |
| title | The legal implications of electronic letter of credit as a cross border trade payment mechanism : Botswana as a case study |
| title_full | The legal implications of electronic letter of credit as a cross border trade payment mechanism : Botswana as a case study |
| title_fullStr | The legal implications of electronic letter of credit as a cross border trade payment mechanism : Botswana as a case study |
| title_full_unstemmed | The legal implications of electronic letter of credit as a cross border trade payment mechanism : Botswana as a case study |
| title_short | The legal implications of electronic letter of credit as a cross border trade payment mechanism : Botswana as a case study |
| title_sort | legal implications of electronic letter of credit as a cross border trade payment mechanism botswana as a case study |
| topic | UCTD International Trade Digitization Letter of credit Regulatory Framework international trade letter of credit Law theses SDG-16 SDG-16: Peace, justice and strong institutions Law theses SDG-17 SDG-17: Partnerships for the goals |
| url | http://hdl.handle.net/2263/58747 |