PERBANDINGAN PERLINDUNGAN HUKUM ANTARA OPEN ACCOUNT DAN LETTER OF CREDIT DALAM TRANSAKSI INTERNASIONAL

Abstract

International trade involves various payment instruments designed to minimize risk between exporters and importers. The two most commonly used mechanisms are Open Account and Letter of Credit (L/C). This study aims to analyze the comparative legal protection provided by these two payment systems in the context of international transactions. The research method used is a normative juridical approach, analyzing various international and national legal instruments, such as the Uniform Customs and Practice for Documentary Credits (UCP 600) issued by the International Chamber of Commerce (ICC), as well as the Civil Code (KUHPerdata) and Law Number 7 of 2014 concerning Trade. This study also examines academic literature and international banking practices to identify the legal protections afforded to the parties.International business transactions are inextricably linked to factors such as exports and imports and payment mechanisms. Examples of payment mechanisms in international business transactions include Open Accounts and Letters of Credit (L/C). However, each payment mechanism has its own advantages and disadvantages in terms of legal protection, so both exporters and importers need to consider the factors they must consider when choosing one. Furthermore, legal protection for both exporters and importers is also essential to ensure a healthy and honest international business transaction process.