Progressive Volume of World Trade and the Rising Trade Delays: A Paradox
This paper is aimed at exploring and understanding the issues leading to the significant rise in Cross Border Trade Settlement Delays and Disputes as a result of Substantial Rise in Volume of World Trade. The study is based on use of Secondary Data and Primary Data. Primary Data is collected through informal interview with the parties to the trade (i.e. Importer, Exporter and Banker) from Pune region. The study concludes that with the rise in Volume of World Trade as a fallout of globalization the Dispute and/or Delay/ Non Settlement Cases or on rise. This is an alarming situation and matter of concern to the trading nations. The Paper tries to explore the major issues leading to such situation (i.e. cross border trade settlement disputes/delays/ non settlement etc.). Therefore the trading countries in general and the parties to the trade in particular can work out certain mechanism to avoid such delays/non settlement and can get benefited with the early settlements avoiding further business losses and can take advantage of gaining, in the era of Globalization.
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