Advanced Letters of Credit


Advanced Letters of Credit

The Singapore Business Federation Business Institute is pleased to organize a workshop on “Advanced Letters of Credit: Case Studies on Pitfalls, Tricks and Traps”. Upon completion of the workshop, the participant will be granted an attendance certificate.

Day/Date: 19-20 June 2017 
Time: 9:00am - 5:00pm
Fee per pax (incl. GST): S$660.00(Member)  |  S$1,049.00(Non-Member) 

Financing international trade is a risky business; this seminar helps traders to interpret the risks, and shows them how to protect themselves. As traders don’t have to work long in the business to realize that international trade is not just about buying and selling. It involves international transport, and that means putting cargoes in the hands of transport operators who are sometimes unscrupulous or under-capitalized.

This seminar will illustrate the risks and fraud possibilities on how buyers and sellers are the losers as well as how buyers and sellers collaborate to cheat Banks and Insurance companies. Fraudsters and unscrupulous traders can abuse these weakness to the detriment of exporters, importers, bankers and shipping agents.

The course will share with participants many practical case studies collected through many years of research as well as through contacts with exporters and importers and bankers during numerous public seminars conducted over the last 12 years. It is therefore imperative for all those using letters of credit to be aware of the risks and frauds to prevent loss, and learn from past leading court cases.


Programme Outline
1. Risks inherent in the different payment structures
2. 20 over pitfalls in LC operations
3. Tips for exporter/importers
4. Risks faced by buyers/sellers
5. Characteristics of frauds & parties involved
6. Types of frauds
7. Documentary fraud
8. Maritime fraud
9. Standby LC fraud
10. Local LC fraud
11. Shipping Guarantee Fraud
12. Switched BL fraud
13. Cargo insurance fraud
14. Charterparty fraud
15. Fraud prevention measures
16. Effect of fraud on bank's obligation to pay under LC
17. Leading court cases
18. Fraud case

Target Audience
This programme is designed to benefit staff in management, international sales, purchasing, accounts/finance, shipping, distribution, inventory control, credit control, risk management or in some other way involved in exporting and importing functions.

*Programme is accurate at the time of print
Training expenditure qualifies your company for up to 400% tax deductions or up to 40% cash payouts under the Productivity and Innovation Credit (PIC). 

Administrative Details:

Please email to to reserve a seat, this will be followed by a confirmation email. 
Upon confirmation, please prepare a cheque to SBF 
(refer to address on above letterhead). 
Cheque should be made payable to “Singapore Business Federation”. Please indicate the Ref No. and company’s name, participant’s name at the back of the cheque.

  • Registration is on a first-come-first-served basis. No cancellation will be allowed upon registration, but attendance by a replacement delegate from your company is allowed. We regret that no refund and full fees will be charged for cancellation or non-attendance.

  • Confirmation of your registration will be emailed to your company upon receipt of full payment.

NOTE:  As a precautionary measure, our advice is for members who are unwell not to attend the session.


For more information, please contact:
Email: (ATTN: Ms Joanne Wong)
Call: 6701 1136

*Information is correct at the time of print

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 event. 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.

6/19/2017 9:00 AM - 6/20/2017 5:00 PM

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