International Payments Law Reform : Intoduction of a Global Code of Payments

International Payments Law Reform: Introduction of Global Code of Payments Resumé As of November 2009, the member states of the European Union are to have implemented the EU Payment Services Directive ("PSD"), a noteworthy instrument of EU payments law. At the same time, but in the different part of the world, discussions about harmonization and unification of payments law arise. The PSD focuses solely on the transactions within the European Union, whilst, by way of comparison, discussions in the U.S. focus solely on domestic payments law harmonization. Thus, with both the EU and U.S. focusing primarily on internal issues, debate on global payments law reform is markedly absent. This Master's degree thesis aimed to fill such absence by the following means. Firstly, in Chapter 2, the author provided a general overview of current terminology of international payments law. Furthermore, a limited outline of current legislation (i.e. Uniform Commercial Code Article 4A - Funds Transfers ("Article 4A"), UNCITRAL Model Law on International Credit Transfers ("Model Law") and the PSD was provided. Chapter 2 contains a useful comparison of credit and debit transactions. Moreover, in Chapter 2 the author offered a limited evaluation and analysis of the drafting processes of the Article 4A, the Model Law and the PSD...