assignment individu business ethics (SGDN2023)

This article indicates of Titmuss’s argument against a market in blood. It’s distinctive the sense in which a market blood is dehumanizing. Titmuss separate it into two domino arguments, firstly “The contamination of meaning argument” and secondly, “Erosion of Motivation” argument. Transplantation assists suffering and gives life to who needed. In medical profession, there are many people still think that the valuable use are most worth and most precious by the cost of allowing a market in organ. For the part moral philosophers said, sale of personal attributes are extortion of the vendors who are poor and urged to sell. Titmusss offers three several reasons for dispose to a system of exclusively voluntary blood donation to a commercial market in blood. The first one is that paid-donor systems are unjust and exploitative, blood being in the main sold by members of the lowest socio-economic groups, and being bought and used by the higher groups. Second is that a private blood market is more likely than a system of donation to yield literally bad blood. And the third one is the production by commercial blood programmes of metaphorical bad blood, which is a morally impoverished relation between individuals. The consecution is the first one explains that is general and applies to any market in goods and services whose vendors are so poor as to warrant charges of injustice and exploitation. And the other one declarative the risk and dangers of contaminations are more in donation than in market in blood. The last one conclude that market in blood is imperialistic and dehumanizing that the state should not allow such a market.

When discuss about market in blood, there are two several things that we will argue with. Firstly, who are involved with this transaction, which person who are needs and getting and who are giving things. We determined which person are needs and which person are giving. What about their condition, their income and extra. Secondly is the description of that blood itself. Blood that received is a good quality or a bad blood. The way to get blood is important too to determine market in blood is necessary in our life.
What I am going to discuss is a bit different from the journal that I have taken to refer. Writer of the journal mostly discuss about two types of argument show a market in blood is dehumanizing. Here I want to point out pro and contra market in blood. I will explain what are market and the definition of blood.
Meaning of market is wide. It is an occasion when people buy and sell goods; the open area or building where they meet to do (Oxford advanced learner’s dictionary, 7th edition). It is business or trade, or the amount of trade in particular types of goods. It is also a particular area, country or section of the population that might buy goods. Market sometimes about the number of people who want to buy something or in other word cites demand. Market shows people who buy and sell goods in competition with each other. Whatever meanings, the first thing that we can see about the market are money or a cent. If have a market, it must to involved money.
Now we go through the definition of blood. According to Oxford advanced learner’s dictionary, blood is the red liquid that flows through the bodies of humans and animals. David Archard explains in his journal, blood is a physical object. The character of blood its type is fixed and at any one time, it is though renewable, available in finite quantities. Blood can be swap at a distance between two people without either needing to know of or have contact with the other. Blood is proper to be exchange for the end of saving life and reducing suffering.
In my opinion, market in blood has a pro and contra itself. Let see if rich man are in trouble. One of his families, let say his wife are need for blood. Then, he cannot get a donor for the blood that his wife need. Market in blood can help him to get a blood that he wants. It makes things easier. But if this situation occurs to a poor person, how can he solve this problem? Is this dehumanizing? Because people do not make benevolence to this poor guy when he really needed?
With a market in blood, a lot of matter necessary a lot of money. Like a parable, “no money no talk”. In these days, everything is not going without money. So, how can we help that poor man who is really needed? Yet, our country is insufficient blood. Market in blood maybe can help country to cover this problem. When the market in blood exists, it involved price or monetary value. At this time, government plays their role to offer or tasteless monetary value or payment for blood donor. Effect of this monetary value, people are shoved to donor their blood and the impact is stock of the blood became increase. Is this can help that poor man? I think it is.
Market in blood can be also globalization. It can give most of benefit through the world. As we know, many countries in the world faced insufficient blood problem. So, if market in blood exist, it can be solved that problem. Maybe government agency can be introduced or can be existed to control this market. Government agency will act as a controller to set up the progress and role of this market. And also the important thing is the local blood market must be the priority.
Beside that, in this world today, there has existed a market in blood at outside this country, such as Europe and America. In their market in blood, there are several product line of blood such as Red Blood Cells (RGBs), Immunoglobulin, Albumin, other plasma product, Synthetic HBOC and PFC Agents and Recombinant Factors. And also have a blood supply management product, including; Blood Collection Equipment, Automated Blood Collection Equipment, Blood Banking and Plasmapheresis Testing.
Which one is better either blood in the market or blood gets from the donation? In my opinion, I think that the blood gets from the donation is prefer to be more secure. And blood that gets from the market is more risky because we do not know where the blood comes from and who is a donor. And also we do not know source of that blood. What we afraid is presence a deflection in market in blood. As we know, market is about money and when involve money, someone absolutely just care about profit and net income.
Blood that comes from donation can be more to trust because it usually handles by committee and board legal regulation or laws. When the entity is legal and recognize by law, the quality and security is more proven and the risk is less than blood gets from a market.

In conclusion, I prefer to say that market in blood is not dehumanizing. It is because market in blood can help to developed country. It is also can tied the relationship within country each other. Market in blood will encourage people to donor their blood if government play the role. And more over, it can be competitors in money market. This can stir up flow in circumstances of market. So, do you still think that market in blood is dehumanizing? I am still with my stand. It is not dehumanizing. It is acceptable now a days.

assignment individu trade financing (BWBB3063)


(A) Defines what it is
Letter of credit is a written undertaking by a bank given to a seller at the request and on the instruction of the buyer. To pay at sight or at determinable future date up to a state sum of money against stipulated document and compliance of the terms and conditions within a prescribed time limit.
An irrevocable letter of credit can be amended or cancelled only with the agreement of the:
1) Issuing bank
2) The confirming bank (if the credit has be confirmed) and ;
3) The seller (as beneficiary)

(B) Purposes and why it is created
-The objective of this document is to facilitate payment as well as finance for overseas trade. It is designed to protect the trading partners in the transaction by ensuring the following requisites:
a) The buyer can be assured of receiving all the necessary shipping documents giving full title to the goods and evidencing their existence.
b) The seller can be assured of payment for his goods.

-To convince the seller that some capital has been allocated to pay the seller (it is safe to start production of the order.

-To list the document that the buyer will need in order to clear the consignment, and specify the details the document must bear.

- To bridge the gap between payment in advance and open account terms.

-The buyer cannot be amended the letter of credit. So, it is safer to use for the seller.

-A revocable letter of credit is very limited security for the seller. An irrevocable letter of credit requires the consent of both the buyer and seller.

-When the seller are less entrust the buyer, irrevocable letter of credit are the best method to use in international trade.

(C) How it is created
-Applicants request the letter of credit from the issuing bank.
-To get the letter of credit, applicant must have :
a. Sales contract
b. Account in the issuing bank
-Applicants fill the letter of credit form.
-Issuing bank approve the letter of credit.
-Applicant will be charged of
a. Telex
b. Stamp duty
c. Courier
d. Cable
-In addition, applicant must be liable to the issuing bank for all risks and costs of the letter of credit.

(D)What are its salient features?
The salient features for irrevocable letter of credit is :
-Letter of credit is used UCP 600 as a official guideline
-In letter of credit, the seller will be pay by the bank that acts on behalf the buyer. And the buyer will pay it back later to the bank. It’s different from bank guarantee. In case of bank guarantee, the seller will be paid by the bank if the buyer did not pay for him.
-Under letter of credit, bank is direct undertaking to the beneficiary to pay; the issuing bank does not wait for the buyer to default. To be distinguishing, bank guarantees only pay on behalf of the applicant to the beneficiary when the buyer is unable or unwilling to make payment.
-In Irrevocable letter of credit, seller should prepare all the documents needed then give it to the advising bank to get the payment. To be different, in red clause letter of credit seller or beneficiary are able to obtain financing before shipment of goods.
-Application form of irrevocable letter of credit is state an “irrevocable documentary credit” on the form.

(E)How does an importer and exporter use
-The buyer will be used letter of credit because :
a. He did not know well about the beneficiary.
b. He wants to minimize the risk because he deals with big transactions.
c. He does not have sufficient money to pay the beneficiary.
d. By using letter of credit, the exporter will respect the applicant because he has a good reputation.
e. He wants to continue operating his business when he does not have the funds at the moment to do so.

(F)Who are the parties directly related to the products and services
Only two parties that related with this products/services:
-The contractual relations regarding the technical, commercial and financial aspects are defined by the buyer or applicant.

(G)What are the obligations of each party?
-To pay the bank
-The applicant for the credit shall be bound by and liable to indemnify the banks against all obligations and responsibilities imposed by foreign laws and usages.

-Issue the credit at the request and on the instructions of the applicant.
-Examine all the documents with reasonable care to ascertain that they appear on their face to be in accordance with the terms and conditions of the credit.

(H) What are the rights of each party?
-Applicant has paid the bank for the L/C services, so, he has the right to give the instruction the issuing bank to ensure that all the documents are in order.

-Obtain payment from the applicant for payment already made to the confirming bank.
-The Issuing bank assures payment on the basis of documents alone and not based on the goods or services to which it may refers.

(I)Cost of creating the instruments to the issuers
-Cost of creating involves indirect cost including:
a. Printing d. Administration
b. Photocopy e. Telephone
c. Salary f. Cable charges

(J)Cost of holding the instruments to the subscriber
-0.1% per month (ABM Role) of the letter of credit amount.

(K)Risk and Returns to the issuer
-Insolvency of the Applicant.
-Fraud Risk, Sovereign and Regulatory Risk and Legal Risks.

-Bank will get the commission when issue the letter of credit.
-Issuer will charges fee to the applicant.

(L)Risk and return to the subscriber
-Late shipment.
-Credit amount exceeded.
-Description of goods on invoice differs from that of the credit.
-Correct documents but not necessarily correct goods.
-Non-delivery of goods.
-Inferior quality.
-Foreign exchange.

-Ability to negotiate more favorable trade terms with the exporter when payment by letter of credit is offered.
-Obtain financing to pay the beneficiary.
-Ability to negotiate favourable terms from the seller.
-Minimizes language barriers with the foreign seller as the whole transaction will be routed through and handled by the bank.

(M)Other cost elements (are there any other hidden cost?)
-For Irrevocable letter of credit product, there is indirect cost involved:
1) Building
2) Utility bills

(N)What is the pricing mechanism (any formula?)
P = Principal amount
R = Rate
T = Time

(O)Is there any official guideline for its establishment?
-UCP 600