First of all, if trade parties choose the Escrow Account the importer has to put the deposit in the account long time before the goods arrive. However, cash flow is important to the importer so he often intends to pay as late as he can. In other words the importer wouldn’t like to choose this method that makes him pay the money in advance. The second problem with the Escrow Account may be the location of the bank. It means that each party wants the bank in his country. It is doubtless that it is less convenient if the bank is abroad. Because legal system is quite different from country to country each side intends to open account in his own country. There will be a lot of unforeseeable risk and extra payment, if he has accepted the offer to locate the bank abroad, when they have any disagreement on the terms of contract. Meanwhile locating the bank in a neutral country is not a good suggestion for both sides, as it is very expensive to solve these problems in a neutral country. As we will discuss later, the documentary credits system balance these interests well because each party deals with a local bank. The above problems show that the Escrow account is less efficacious and less efficient than documentary credits and thus not a viable substitute.
　　3.Paperless document provides three main advantages
　　　 As noted above, the paper document brings up many problems so new methods must be explored. Since electronic technology develops quickly, the paperless document comes to be used more often. Unlike paper documents, electronic documents are quick to issue and transmit. An electronic bill of lading may be transmitted to an exporter shortly after goods are loaded on board a vessel. The exporter can instantly transmit the documents to the importer or the importer’s agent and demand payment, which the importer may effect by an international credit transfer.
　　　 In fact, the electronic document, sometimes is called the paperless document, may provide us with security, liquidity, and proximity, which are what both parties want. It is worth reiterating that security offered by credits is the most important achievement in international trade. If paper document is used it will take a long time to transfer those documents from exporters to importers. The paper system is very slow so, if a disagreement happens, goods will be near the importer’s port, if not arrived. There will be much potential risk if the importer refuses to pay the price when the goods are already in the importer’s country. For instance, the exporter has to pay extra price to return the goods back to his country or re-route to another location. It seems easy to solve by paperless document because international electronic funds transfer is quickly executed. If the importer fails to pay after he has received the shipping documents, the exporter may be able to stop the goods in transit before the vessel departs from the loading port or, if the vessel has departed, before it gets too far. In effect, paperless documentation may reduce the delays of paper documentation that compel exporters to demand the payment assurance afforded by credits.

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