“Documentary Credit Law : An Indian Perspective"

This is a study in international trade law. Documentary credits are the most common method of payment for goods in international trade. In India also these instruments are used both in national and international trade. The law governing these transactions remains haphazard. This study identifies the deficiencies in the regulatory framework for documentary credits in India. It primarily focuses on those areas which exhibits a lack of equality and justice in its operation. An attempt has also been made to identify the rights and duties of parties involved in the transaction. The reasons for the increase of fraudulent activities associated with the documents executed in the documentary credit transactions are also examined. How far the law in India is sufficient to ensure fair business practice in international trade financing is also examined. Methodology adopted for the study is analytical. The statutory provisions, rules and case laws under these provisions have been examined. An empirical study by personal interview with the bankers is also made to ascertain the practice of bankers in India.

Role of Naval Architects in Ship Recycling

The paper identifies twelve elements of ship recycling and highlights their respective roles and duties in a proposed ship recycling system. The source and items of knowledgebase for ship recycling have been brought out. A new philosophy focusing clean and safe ship recycling namely design for ship recycling has been introduced based on principles such as ecofriendliness, engineering efficiency, energy conservation and ergonomics. The role of naval architects in ship recycling industry has been described based on the above factors. The paper brings out the role of naval architects in ship recycling the way it has been practiced worldwide and proposed by regulatory bodies. The authors have brought out the new concept of design for ship recycling and various aspects of it. The role of naval architects in the practice of this new design philosophy which is ready to be embraced by the maritime industry has been reiterated.