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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

countries. Especially the considerations of German courts that strictcompliance must be interpreted in the frontiers of good

faith and that letters of credit must beinterpreted as will declarations.7.She lton Fred (2002) studied that Working capi tal, an important

liquidity indicator , hashistorically been a major benchmark of the surety and creditgranting institutions. In todaysenvironme nt, because of the

tight bond and credit markets, both institutions are scrutinizingthe amount and quality of working capital more than ever. The fewer

resources that need to be invested in working capital, after recognizing liquidity risk, the better.8.Weinraub Herbert, Visscher Sue

(1998) studies that This study looked at ten diverseindustry groups over an extended time period to examine the relative relationship

betweenaggressiv e and conservativ e working capital practices. Results strongly show th at theindustries had significantly different current asset management

policies. Additionally, therelative industry ranking of the aggressive/conserv ative asset policies exhibited remarkablestabilit

y over time. Industry policies concerning relative aggressive/conser vative liabilitymanageme nt were also significantly

different. Interesti ngly, it is evident there is a high andsignificant negative correlation between industry asset and liability policies.

Relativelyaggressi ve working capital asset management seems balanced by relatively conservativeworki ng capital financial management.

9.Mills Geofrey (1996) analysis that the impact of inflation on the capital budgeting process. Ithas shown that it is reasonable to expect that the

cost of capital will increase at the same rateas the rate of inflation on an ex ante basis, and that this increase will be a multiplicativerelat ionship. In

addition, the paper has shown that the capital budgeting process is not neutralwith respect to inflation, even if output prices rise at the same rate

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. Finally, it would appear that corporate financial behavior

is influenced byinflation. Inflation will cause the firm to reduce its capital budget, to attempt to reduce networking capital, and to alter

the debt/asset ratio using short term debt, thus driving up shortterm rates relative to long term rates.

About Vardh man Group

Vardhman is a major integrated textile producer in India. The Group was setup in 1965at Ludhiana, Northern India. Since then, the Group has

expanded manifol d and is today,one of the largest textile conglomerates in India. The Group portfolio includes Manufacturingand marketing of

Yarns, Fabrics, Sewing Threads, Fiber and Alloy Steel. The group started itscorporate journey with an installed capacity of 6000 spindles

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

businesses. The group hasalso diversified into yarn processing, weaving, And Sewing Thread, fabric processing, acrylicfiber manu facturing and into

special/ alloy ste els. Today, close to 20,000 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

DO.CO M
Final Report Project on Letter of Credit
http://free-assignment-exchange.blogspot.com/ For downloading this report and many other assignment, project and reports for marketing, management, human resource management, supply chain management, engineering and medical available absolutely free online please visit http://free-assignment-exchange.blogspot.com/

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Sections

1. Applicant 2.Beneficiary 3.Issuing Bank 4.Advising Bank 5.Inventory of Stock

Info and Rating

Category: School Work > Essays & Theses Rating: (5 Ratings) Upload 05/16/2009 Date: Copyright: Attribution Noncommercial

Tags:

Business Finance college university project Computer marketing Pakistan India (more tags)

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manishdey20103 years ago Reply

hello sir ,i am manish ,i need this project ....can u mail me at this id manishdey2008@gmail.com ashu29feb4 years ago Reply I am interested in downloading .I am interested to learn.Sir, It will be of great help if you could upload this file to me atbnb........ashu29febpimsr@gmail.com

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