Letters of Credit- International Trade Finance
Course Information
1 Day Course
Time: 9am – 5pm
Contact: bes@dnb.com.sg
Who Should Attend
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.
Course Outlines
Topic 1: Overview of Methods of Payment and Trade Facilities in international Trade.
Topic 2: Trade Documents commonly used in International Trade - Bills of Exchange, Bills of Lading, Invoices, packing List, Insurance, Cert of origin etc.
Topic 3: Trade terms commonly used in International Trade - FOB, CFR, CIF, FCA, CIP, CPT, EXW, FAS, DDP, (DAT, DAP replaces DDU, DAF, DES, DEQ).
Topic 4: Step by Step detailed flowcharts and Samples on how various types of Letter of Credit works
Topic 5: Cost Saving Areas in LC transactions which your bankers will never tell you.
Topic 6: Why payments are often delayed in LC transactions and how to overcome this.
Topic 7: Date of Issue, Shipment, Presentation; Date and Place of Expiry.
Topic 8: Role and Liability of Banks and Rights of Recourse
Topic 9: Practical pointers when applying for a Letter of Credit (Importer).
Topic 10: How to prepare and check documents to avoid discrepancies.
Topic 11: Discussion on Discrepancies - Why; How To Resolve.
Topic 12: Practical pointers for Exporters when presenting documents under a Letter of Credit.
Topic 13: Common LC Discrepancies checklist
Topic 14: Detailed checklists for Exporters and Importers
Topic 15: Concept of Confirmed LC and "Silent Confirmation LC"
Topic 16: Advantage & Risks of using "LC - TT/SWIFT Reimbursement Allowed" to both exporter & Importers
Topic 17: Application of UCP 600 in Letter of Credit.
Topic 18: Back to Back LC and Transferable LC.
Topic 19: Practical exercises/case studies
Trainer's Profile
Mr. Victor Tan
Mr. 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 areas of International Trade Finance, 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.
Since 1992 until now he has been an Independent Training Consultant and conducts regular Company Inhouse training for Corporate clients and Public Seminars, as well as he undertakes regular training assignments regionally, in Jakarta, Kuala Lumpur, Manila and Bangkok. He also holds a Master of Business Administration degree from University of Strathclyde, UK.