Overview
Financing international trade is a risky business. The terms and conditions of Letters of Credit (LCs) have to be fully complied, otherwise it might lead to rejection and non-payment. This workshop is designed to help participants interpret the risks and show them how to protect themselves. The workshop is case-based, interactive and highly practical.
Course Outline
- Common pitfalls in LC operations
- Misconception of the role of sales/marketing team
- Instalment shipment vs partial shipment
- Presentation period
- Forged LCs
- Consignee trap on airway bill
- 10% retention sum
- Buyer receives all the documents under the LC, but goods may differ
- Claused bills of lading
- LC expired
- Absence of documents called for in the LC
- Insurance cover effective date
- Combined transport document pitfalls
- Bills of lading confusion pitfalls
- Specific ports of lading and discharge
- Transport document signing capacity pitfalls
- House airway bill pitfalls
- Qualified LCs
- Special conditions in LCs
- Groundnuts vs peanuts
- Soft clauses in LCs
- FOB pitfalls
- Incoterms pitfalls
- Incompatible terms in LCs
- Issuing bank wishes to protect itself
- Terms and conditions dominated by a powerful seller
- Inspection certificate trap
- LC charges pitfalls
- Expiry date and place of presentation trap
Target Audience
Staff involved in Customer Service, Order processing. Finance and Accounting staff in charge of A/Cs Receivables, Shipping & Logistics staff, Credit Analysts and Credit control staff. Sales & Marketing Staff involved in Sales Contract negotiations. Freight forwarders and shipping company staff. Any Company intending to export regionally and globally.
Trainer Profile
Victor Tan, MBA (Strathclyde), ACIB, MInstAM, is a qualified Life Associate Member of The Chartered Institute of Bankers, London and has 15 years of banking experience covering the operational areas of International Trade Finance, Letters of Credit, Remittances, Guarantees, Import and Export departments. He has worked with various International Banks since 1977 starting with Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and lastly Barclays Bank, where he was Deputy Head, Trade Finance, on leaving the Banking industry in 1992.
Administrative Details
Please log on with your Username and Password to register. If you have no existing account with Singapore Business Federation (SBF), please create one for registration.
Upon registration, you can make payment directly by PayPal (for Credit / Debit Card), PayNow Corporate or Bank Transfer. An auto e-acknowledgement and invoice will be sent to your registered email.
No cancellation is allowed upon registration but attendance by a replacement delegate from your company due to exigency could be facilitated. Please notify SBF of this change, giving at least 3 working days’ notice prior to the date of the workshop to enable logistical arrangements for the replacement.
Full payment must be received with registration prior to the date of the workshop to guarantee your place.
Admission into the workshop is only allowed if payment / proof of payment has been received prior to the day.
Participants will still be liable for payment in the event of no-show on actual day of the workshop.
SBF reserves the right to cancel, postpone, reschedule or make any adjustments to the workshop where necessary.
Other Payment Modes:
Select one of the following electronic payment options available (Please key in the invoice number for our reference)
- PayPal (pay by Credit or Debit card)
- PayNow Corporate (UEN: T02SS0073H)
- Bank Transfer (Bank / Branch Code: 7375 / 018, Account No: 118-313-180-5)
Billing Organisation via UOB or DBS Website/Mobile app
Ref No.: SB220696
DISCLAIMER
All information, materials and related graphics contained herein and/or provided in the course of the training session(s) (hereinafter referred to as “Information and Materials”) are intended for informational and/or educational purposes only. The Singapore Business Federation does not claim ownership of any of the Information and Materials provided by the external training vendor(s). The information and Materials may from time to time include technical inaccuracies or typographical errors, and changes may be added periodically as may be necessary. Please note that photography, audio and video recording may occur during these events. All photography, audio and video recording may be used by Singapore Business Federation for education, marketing, promotional and/or publication purposes. If you do not wish to have your image recorded or published, for compelling and legitimate grounds relating to your particular situation, please inform our staff.