, was a question about the effectiveness of the regulatory activities of international monetary institutions, which in conditions of crisis in the global system has fallen significantly, prompting several governments located in the band to do disruption reconstruction of the whole system of currency regulation.
Historically, the following features of the main forms of international payments:
– Importers and exporters, as well as their banks to enter into definite relations associated with the payment of title and documents.
– International operations are regulated by legislation and banking regulations.
– International operations – the object of unification and universalization of banking operations. In 1930 and 1931 accepted international promissory notes and checks Convention (Geneva), aimed at harmonizing the bill and voucher laws. The Commission on International Trade Law United Nations (UNCITRAL) continues to unify the Bills of Exchange Act. International Chamber of Commerce, established in Paris in the early XX century, Develops Uniform Customs and Practice for Documentary Credits, the collection and contract guarantees. For example, the first rules were developed for collection in 1936, and then revised in 1967 and 1968. Adheres to these rules, the majority of banks in the world.
– International operations are usually documentary in nature, which is exercised against the financial and commercial documents.
The financial instruments include promissory notes (promissory and transfer), checks, payment receipts.
Commercial documents include invoices, shipping documents evidencing shipment or dispatch (bills of lading, receipts, etc.), insurance documents insurance companies, other documents (certificates, bills, etc.).
The bank verifies the content and completeness of these documents.
