| | Description: | ObjectiveThe letter of credit is an indispensable financing instrument used in international trade transactions. Parties to the letter of credit transaction have to abide by the rules governing its use. To many, such rules are confusing. Unfortunately, misinterpretation or misunderstanding of the terms may result in financial losses. Efficient processing of letters of credit documents is important in today’s business environment. Staff must be familiar with the UCP rules governing letters of credit transactions, the risks involved, rights and obligations of the various parties. Knowing how to process the documents correctly for letter of credit negotiation will help the company to save costs and minimise claims.
This course aims to provide sufficient working knowledge to participants to enable them to minimise costs and delays in their business transactions. Designed For
Those who are involved in trade documentation, purchasing and supply, logistic operations, credit management, sales and marketing.
Coverage- Methods of Financing International Trade
- The Open Account
- Documentary Collection - D/A and D/P Terms
- Documentary Credit – Irrevocable Letter of Credit
- Understanding Documentary Collections
- Difference Between Document Against Acceptance (D/A) and Document Against Payment (D/P)
- Parties Involved Under Documentary Collections
- Guide to Processing and Documentation Flow
- Essentials of a Letter of Credit
- The Parties Involved in a Documentary Credit
- Obligations and Roles of Banks
- UCP Guidelines and Letter of Credit Uses
- Flow of a Letter of Credit
- How to Issue a Documentary Credit
- Document Presentation Flow
- Specifying The Right Terms and Conditions
- Understanding The Related Documentation and The Shipping Issues
- Preparation of Key Supporting Documents
- Common Shipping Issues
- Types of Credit and Their Effects on Users
- Revocable Credit
- Irrevocable Credit
- Confirmed Irrevocable Credit
- What Beneficiary Should Do To Prevent Discrepancies When Preparing Documents For Bank Negotiation
- Discrepant Documents And How To Handle Them
- Factors That Cause Delay In Payment And How It Could Be Avoided
LecturerMr VCS Vardan was called as a Barrister of England & Wales of Lincoln's Inn in 1982 and admitted as an Advocate & Solicitor of the Supreme Court in Singapore in 1984. He practiced as an Advocate & Solicitor from 1984 to 1998. He is currently a Consultant at VCS-Trinity Consultants, Singapore. He has conducted seminars and workshops in the Maldives, Mauritius, Dubai, Philippines, Vietnam, Hong Kong, Laos, Cambodia, Myanmar, Thailand, Malaysia and Singapore on areas like Contracts, Shipping, Supply Chain Management, Banking/Finance, and International Trade Facilitation. In-house seminar clients include the Bank of Maldives, Kuok Brothers, Sumitomo, Panasonic, Mitsui, ABB, Shell, and IRAS. Mr Vardan is also a Faculty Member of the Singapore Chinese Chamber of Commerce, Institute of Business (SCCIOB). Duration1 day : 9am to 6 pm VenueThe Logistics Academy CertificationA Certificate of Attendance will be awarded upon successful completion of the course. 
| |
