ACTUAL FINANCIAL INSTRUMENTS FOR INTERNATIONAL SETTLEMENTS
( Pp. 125-129)

This article considers possible improvements for mechanisms, by which such instruments as the Letter of Credit and escrow account operate. Current functioning does not correspond to present state of the IT capabilities and experience in integration of such technologies into business-process in financial institutions. Application of the innovations, which are capable to make existing instruments of settlements faster and less expensive, is a relevant issue. In this article, the author summarizes actual drawbacks, which are essential to the Letter of Credit and escrow account, that made such instruments less demanded by the customers. In addition, the article provides an investigation of opportunities for improvement with a description of ways to improve and a brief description of functioning schemes. In conclusion, innovation perspectives and potential positive effect are assessed.

Akchurin P.I., (2018), ACTUAL FINANCIAL INSTRUMENTS FOR INTERNATIONAL SETTLEMENTS. Economic Problems and Legal Practice, 5 => 125-129.

Klaus SHvab CHetvertaya promyshlennaya revolyutsiya. - M.: Eksmo, 2018. - 208 s.;
ICC Global Survey 2017:Rethinking Trade and Finance // www.iccwbo.org (data obrashcheniya: 06.09.2018);
SHakirova E.R. Bankovskoe platezhnoe obyazatel stvo: vvedenie i osnovnye ponyatiya // Mezhdunarodnye bankovskie operatsii. Metodicheskiy zhurnal. 2012. №4. S. 67-68.;
Educational report: Observations on the Evolution of Trade Finance and Introduction to the Bank Payment Obligation // www.swift.com (data obrashcheniya: 06.09.2018);
Market adoption of BPO // www.swift.com (data obrashcheniya: 06.09.2018);
Grazhdanskiy kodeks Rossiyskoy Federatsii (chast 2) ot 26.01.1996 No 379-FZ (red. ot 16.12.2017) Elektronnyy resurs // Konsul tantPlyus: spravochnaya pravovaya sistema: sayt . URL: http://www.consultant.ru/document/cons doc LAW 9027 (data obrashcheniya: 06.09.2018);
Vasilevskaya L.YU. Dogovor sche ta eskrou: problemy pravovoy kvalifikatsii // Elektronnoe prilozhenie k Rossiyskomu yuridicheskomu zhurnalu . 2016. No 2. S. 37-49.;
ABN Amro moves escrow accounts to the blockchain // www.finextra.com URL: https://www.finextra.com/newsarticle /31681/abn-amro-moves-escrow-accounts-to-the-blockchain (data obrashcheniya: 06.09.2018);
Blockchain Technology: From Hype to Reality // www.edgeverve.com URL: www.edgeverve.com/wp-content/uploads/2017/02/Blockchain Technology From Hype to Reality Infosys Finacle.pdf (data obrashcheniya: 06.09.2018). (data obrashcheniya 06.09.2018);
Al fa-Bank i S7 Airlines vpervye v Rossii proveli sdelku s ispol zovaniem blokcheyn. // www.alfabank.ru/ URL: www.alfabank.ru/press/news/2016/12/21/37627.html (data obrashcheniya: 06.09.2018).

SWIFT.