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International Electronic Funds Transfer System: Swift And Its Interface With The New Payments Code, Thomas J. Karl
International Electronic Funds Transfer System: Swift And Its Interface With The New Payments Code, Thomas J. Karl
Penn State International Law Review
Increase in international trade and travel in recent years has increased the volume of international payments, most of which have traditionally been handled by commercial banks. Because paper provided the legal basis for these transactions, they were carried out via fairly complicated documents transmitted by mail. When the sums involved were very large or the time factor particularly important, Telex was used to expedite the procedure.
These factors compelled the banking world to develop a computerized international transfer system. The desired system would facilitate processing international transactions through (1) a high degree of standardization in the types of documents, procedures, …
Investment And The Andean Pact: From Political Response To Legal Structures To Safe Harbors, Robert Carcano
Investment And The Andean Pact: From Political Response To Legal Structures To Safe Harbors, Robert Carcano
Penn State International Law Review
The Latin American experience clearly establishes that economic development involves profound social and political change. Despite modernization efforts, economuc benefits eluded Latin American leaders. This fact led to the widespread perception that a new international legal strucure had to be forged if the region's myriad social concerns were to be addressed. Regional economic integration was a necessary first step.
Integration enabled Latin American statesmen to address insurmountable national problems on a regional level. In the Latin American context, however, economic integration efforts became intertwined with the new nationalism. Despite this beginning, the structures that eventually arose formed a relationship which …