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Examines the new system of collection of payments in international and community sales by direct debit. Refers to English law and some EC opinions related to the issue. Highlights the legal pitfalls and suggests ways to maximize business planning in this regard. Identifies the procedure involved in the “signing on” to such a system/service, the benefits afforded by the service and the possible eventuality of litigation. Makes comparison with some other forms of collection and payments, drawing together some differing practice in other member states. Also discusses the legal impact of electronic data interchange and governmental policies on transborder data flows against the backdrop of business strategy.
Keywords:
BACS,
Banking,
Corporate planning,
EDI,
Electronic funds transfer,
European Union,
Finance,
International trade,
Law
© MCB UP Limited
1994
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