6 August 2008
The Holiday Inn The Atrium
Letters of Credit (L/Cs) are important financing instruments in import/export transactions. A badly opened L/C exposes the company to risks, financial loss, higher cost and bank charges, delays in arrival of goods and more. Similarly, as beneficiary in an L/C, it can cause delay in payment for your goods, legal claims from the opener, etc. Thus it is important to be well versed with the rules and practices under the UCP 600 when opening or negotiating L/Cs. .
This unique 2-day intensive course has been systematically designed to be comprehensive so as to provide participants with the basic techniques in Trade Financing Facilities on day one, followed by a hands-on experience in examining the terms and conditions of a letter of credit, L/C application, preparing export documents for negotiation, and checking documents for
discrepancies on day 2.
Workshop objectives
- Understand the basic issues in International Trade
- Be familiar with the common Payment Terms
- Know the 13 Incoterms
- Understand the mechanics of Documentary Collections
- Understand the mechanics of Letters of Credits
- Understand the Trade Documentation used in International Trade
Course outline for 2 Days
1. Overview of International Trade
- Risks Assessment
- Choice of Payment terms
- Choice of Shipment Terms
- Sales Contract
2. Key Risks in International Trade
- Non-payment
- Political
- Economic
- Foreign Exchange
- Frauds
3. A Comparison of the Different Payment Terms
- Open A/C
- Advance Payment
- Collections
- Letters of Credits
- Standby LC
4. The 13 Incoterms – EXW, FCA, FAS, FOB, CIF, CFR, CIP, CPT, DES, DEQ, DAF, DDU, DDP.
5. The Different Types of Letters of Credits
- Sight/Usance LC
- Revocable LC
- Irrevocable LC
- Confirmed Irrevocable LC
- Red Clause LC
- Revolving LC
- Back-to-Back LC
- Transferable LC
6. Letter of Credit Application process and compliance issues.
- Key Terms & Conditions of LC Opening
- Application Checklist
7. Letter of Credit Negotiation process and compliance issues
- What to look out for when LC is received
- Beneficiary Checklist
8. Trade Documentation – function and compliance issues and relationship to Incoterms :
- Draft,
- Invoice,
- Packing List,
- Bills of Lading,
- Multimodal BL,
- Charterparty BL, Airwaybills,
- Certificates of Origin,
- Insurance Policy,
- Inspection certificates etc.
Case Studies and Discussions
Who Should Attend
- Financial Controllers
- Internal Auditors
- Bank Officers
- Shipping coordinators
- Export-Import managers and executives
- Sales & marketing managers
- Shipping company executives
- Freight forwarders
- Other executives involved in international trade
Date and Time
6 to 7 August 2008
9am to 5pm
Fee
S$825 - PwC clients/alumni
S$877 - Public
All fees include 7% GST, lunch, refreshments and seminar kit.
More information about the seminar, including registration details, is available in the flyer > 
