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compliance, the f raudulent excepti on and questions of liability if the doctrine of strictcompliance
was not carefully used. The thesis bases on German law, but tries, whenever useful, to compare with law of other countries and / or International law.
At the end of thethesis a critica l outlook will fol low. The analyse of problems con cerning the strict compliance lead to the result that still today, about 100
years after letters of credit became acommon method to pay, problems exist. One of these problems is the different interpretationof courts in different
Especially the considerations of German courts that strictcompliance must be interpreted in the frontiers of good
.She lton Fred (2002) studied that Working capi tal.faith and that letters of credit must beinterpreted as will declarations.7.
In today’senvironme nt. because of the
. hashistorically been a major benchmark of the surety and creditgranting institutions.liquidity indicator .
both institutions are scrutinizingthe amount and quality of working capital more than ever.tight bond and credit markets. The fewer
the better. after recognizing liquidity risk.8.resources that need to be invested in working capital.Weinraub Herbert. Visscher Sue
(1998) studies that This study looked at ten diverseindustry groups over an extended time period to examine the relative relationship
Results strongly show th at theindustries had significantly different current asset management
.betweenaggressiv e and conservativ e working capital practices.
Additionally. therelative industry ranking of the aggressive/conserv ative asset policies exhibited remarkablestabilit
Industry policies concerning relative aggressive/conser vative liabilitymanageme nt were also significantly
.y over time.
it is evident there is a high andsignificant negative correlation between industry asset and liability policies. Interesti ngly.different.
.Relativelyaggressi ve working capital asset management seems balanced by relatively conservativeworki ng capital financial management.
9. Ithas shown that it is reasonable to expect that the
.Mills Geofrey (1996) analysis that the impact of inflation on the capital budgeting process.
and that this increase will be a multiplicativerelat ionship. In
.cost of capital will increase at the same rateas the rate of inflation on an ex ante basis.
addition. even if output prices rise at the same rate
. the paper has shown that the capital budgeting process is not neutralwith respect to inflation.
as costs. Of criticalimportanc e is the degree of net working capital as a proportion of the overall financingrequired . the higher the
net working capital the greater being the impact of inflation oncapital spending. it would appear that corporate financial behavior
and to alter
. Inflation will cause the firm to reduce its capital budget. to attempt to reduce networking capital.is influenced byinflation.
thus driving up shortterm rates relative to long term rates.
.the debt/asset ratio using short term debt.
About Vardh man Group
Vardhman is a major integrated textile producer in India. Northern India. Since then. The Group was setup in 1965at Ludhiana. the Group has
one of the largest textile conglomerates in India.expanded manifol d and is today. The Group portfolio includes Manufacturingand marketing of
Sewing Threads.Yarns. The group started itscorporate journey with an installed capacity of 6000 spindles
. Fabrics. Fiber and Alloy Steel.
in1965 under the flagship company Vardhman Spinning & General Mills Limited (now known asVardhman Holdings Limited
and is an investment arm of the Group) in Ludhiana. Over the yearsthe group has expanded its spinning capacities besides adding new
acrylicfiber manu facturing and into
. weaving.businesses. And Sewing Thread. The group hasalso diversified into yarn processing. fabric processing.
special/ alloy ste els. close to 20. Today.000 people are theOrganizatio n is most important asset its human capital The Vardhman group comprises
of three listed and two unlisted companies-Listed CompaniesListed companies
Vardhman Textiles Limited (formerly
Mahavir Spinning Mills Limited)
Vardhman Acrylics Limited
Vardhman Holdings Limited1 (formerly
Vardhman Spinning & General MillsLimi ted) Unlisted Companies VMT Spinning Company Limited
Vardhman Threads Limited
FOR C OMPL ETE R
EPORT ANDD OWNL
OADIN GVISIT HTTP://
PAKIS TANM BA.JIM
Final Report Project on Letter of Credit
http://free-assignment-exchange. supply chain management. management. human resource management.DO. engineering and medical available absolutely free online please visit http://free-assignment-exchange.com/ For downloading this report and many other assignment. project and reports for marketing.7K
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