Credit Management

Certificate Course – (IICM AWARD)

The Certificate in Credit Management is essential for any business professional that operates with any stage of company cash flows, from contract negotiation, customer service, account management to accounts receivable. This 1-year course was designed to expand participants current knowledge within commercial, legal and financial areas.Export Edge have received a Silver Partner Continuous Professional Development, Award from Irish Institute of Credit Management.

Course Modules

1. Credit Management
The Credit Management subject gives a practical overview of the function, the components and how to manage credit. It covers Consumer, Trade and Export issues to give students a better understanding of the topic. The course is dynamic, surprisingly commercial and focuses on building strong customer relationships and finding a way to deliver every order, and what must be in place if getting paid is important to your business. As a result of completing this module the student will have a greater understanding of how to make
the credit function an essential ingredient in protecting your margin, maximising
collections and managing risk.

2. Accounting
The Accounting subject is specifically designed for Credit professionals not accountants & you will never have to prepare a set of accounts but you have to be able to understand them and make important decisions on that basis, this section shows you how. It also incorporates some simple and effective scoring models to improve your understanding of  your customers. As a result of completing this module the student will have a greater understanding of Accounting and its relation with Credit Management.

3. Economics
The Economics subject gives you a view of the economy works and why. What factors to look out for and will give you a better understanding of news and current affairs when you understand what is behind it. At the end of this module the student will understand Economics and its relation with Credit Management.

4. Law
The Law subject gives you an understanding of the basics of the Legal System in Ireland  and covers relevant topics like Contract Law, Law of Torts and the Sale of Goods act, as well as a section on Credit Security. At the end of this module the student will understand Irish Law and its relation with Credit Management.

The Irish Institute of Credit Management (IICM) is the professional and examining body for the Certificate course. Students are required to register as members of the Institute for duration of their studies. Through membership, students will have contact with the Institute. They will also be invited to attend workshops and expositions run by the Institute on relevant aspects  of Credit Management.

ASSESSMENT

Assessment is by way of assignments and end of semester examination papers of two hours duration which require students to answer four questions out of eight. Examinations are held June and January.

ATTENDANCE RECORD

Students are expected to have a minimum attendance of 80%. Actual attendance maybe taken into consideration when reviewing marks achieved in examinations.

EXEMPTIONS

IICM may grant exemptions from certain examination subjects in respect of which the student already holds an acceptable qualification. The Institute does not grant exemptions from examinations on the basis of experience. Export Edge will assist eligible students with applications for exemptions based upon their CV and academic achievements. Applications for exemption, supported by copies of the certificates, confirmation of the subjects passed together with the relevant syllabi and appropriate fees must be sent to IICM (Irish
Institute of Credit Management) within four weeks of enrolment for the course.

AWARDS

The certification is awarded to students who successfully pass all four examinations. The exams results are notified by IICM to students within 2 months of completion of examination. Holders of the Certificate are entitled to display A.I.I.C.M. (Cert) if associate member, or M.I.I.C.M. (Cert) if full member, after their name.

For more details see pdf below. Please contact us for booking.

Trade Finance Payments & Letters of Credit

Significant changes have been introduced under new International Chamber of Commerce (ICC) rules UCP 600, governing Letter of Credit Contracts, plus update to ISBP. International Banks are also taking a hard line with certain Middle Eastern countries, where Export Edge has assisted in resolving major issues for our clients over the last 16 years.

OBJECTIVES

• To equip participants with the updated knowledge for Trade Finance operations for their company in an informed and effective manner;
• To equip participants with knowledge of essential banking payment processes that will enable their companies to exploit higher risk markets;
• To reduce complexity and time consumption on complicated banking issues;
• To increase participant’s process efficiency through minimising discrepancies on presentations to banks for payment;
• To utilize new process improvements for operational efficiency.

Upon completion of the course, participants will be able to understand:
• The structure and format of a letter of credit (L/C) and the relationships between L/Cs and the main documents, for example: Commercial and Transport documents, Bills of Exchange (Drafts) and other documentary requirements;
• Banking process and compliance requirements for Documentary Credit and Documentary Collection presentations.

COURSE BENEFIT ASSURANCE

A detailed review of your customs and trade issues will take place with a pre-course questionnaire review followed by ongoing technical customs support for one month after the course.

COURSE OUTLINE

Financial Risks inherent to Exporting

The Currency Market and Exchange Rates
• Exchange Risk
• Forward Exchange Contracts

Credit Risk Management and payment analysis
• In advance, Banking or Open account terms
• Export Credit Insurance
• Guarantees

International Payment Criteria
• Clean Collections / Bills of Exchange
• Documentary Collections
• Documentary Letters of Credit
• Types of documentary credits

Letters of Credit (L/C’s)
• Understanding the Process
• Advantages / disadvantages of documentary credits
• Key terms in Documentary Credits

Negotiating L/C contracts
• Parties to the contract
• Key Management Responsibilities
• Role of Finance and Credit Management

Commercial Operations
• Customer Relationships
• Terms and Conditions under L/C’s
• L/C applications to Banks

Documents under L/C’s
• Transport Documents
• Commercial Documents

Documentary Credit Cycle
• Planning and Organising the process
• Application, Issuance, Shipments
• Presentations and Settlement

UCP 600 & ISBP 681 rules
• Documentary Credit conditions explained
• Practical application of UCP

Variations in Documentary Credits
• Functioning of the Documentary Credits
• Confirmations to L/C’s
• Transferable Credits
• Back to Back  Credits
• Revolving  Credits
• Making use of SWIFT Banking formats

In Practice
• Management of functional roles
• Communications internally and with third parties
• Forms of verbal and written communication
• Verification of Documentation
• Effective document generation
• Case studies

Procedures and Systems to improve process efficiency
• Operating Procedures & Progress check lists
• Problem Solving
• Managing Deadlines and Critical Timescales
• Measuring Financial Performance

For more details see pdf below. Please contact us for bookings.

Significant changes have been introduced under new International Chamber of Commerce (ICC) rules UCP 600, governing Letter of Credit Contracts, plus update to ISBP. International Banks are also taking a hard line with certain Middle Eastern countries, where Export Edge has assisted in resolving major issues for our clients over the last 16 years.

COURSE OBJECTIVES
• To equip participants with the updated knowledge for Trade Finance operations and International Bank payment processes;
• To reduce complexity and time consumption on complicated banking issues;
• To increase participant’s process effectiveness through minimising discrepancies on presentations to banks for payment;
• To utilize new process improvements for operational efficiency.

Upon completion of this one day refresher course, participants will update their knowledge of:
• Structure and formats of a letter of credit (L/C) and the relationships between L/Cs and the main documents, for example: Commercial and Transport documents, Bills of Exchange (Drafts) and other documentary requirements;
• Banking process and compliance requirements for Documentary Credit and Documentary Collection presentations.

COURSE BENEFIT ASSURANCE
A detailed review of your Letters of Credit and trade documentation issues will take place through pre-course questionnaire and discussion, followed by ongoing technical support for one month after the course.

COURSE OUTLINE

Documentary Credit Cycle
• Planning and Organising the process
• Application, Issuance,  Shipments
• Presentations and Settlement
• Nominated Bank re-defined

Documents Under L/C’s
• Transport Documents
• Commercial Documents

UCP 600 & ISBP 681 rules
• Documentary Credit conditions explained
• Sight Payment, Deferred Payment,

Acceptance and Negotiation
• Practical application of UCP

In Practice
• Management of functional roles
• Communications internally and with third parties

Variations in Documentary Credits
• Functioning of  Documentary Credits
• Confirmations to L/C’s
• Revolving Credits
• Making use of SWIFT Banking formats

Procedures and Systems to improve process efficiency
• Operating Procedures
• Effective document generation
• LC Control Register
• LC Procedure Checklists.
• Problem Solving
• Managing Deadlines and Critical

Timescales
• Measuring Financial Performance
• Actions available with discrepancies

Reveiw, Questions & Answers
• Effective Document Generation
• Controlling tasks on the critical path
• Verification of Documentation

Documentation Exercises

For more details see pdf below. Please contact us for bookings.

This course provides the exporter with a valuable introduction to International Trade Documentation and Export Procedures, which covers the Import and Export Functions.

A myriad of import/export regulations face the company involved in international trade, including difficulties with export documentation, delays on shipment or getting paid, not to mention penalties for non-compliance.

The update to Incoterms 2010 is in force from 1 January 2011, covering significant changes and interpretation of these rules.

OBJECTIVES
This one day course provides the Exporting or Logistics company with a valuable update to International Trade and Documentation procedures.

COURSE BENEFIT ASSURANCE
A detailed review of your customs and trade issues will take place with a pre-course questionnaire review followed by ongoing support for the week following the course.

TARGET AUDIENCE
This course is a must for those supervisory and key personnel expanding their markets worldwide and for those planning to trade with new international markets.

COURSE OUTLINE

• International Trade Risk Assessment

• Managing Export Contracts
- Fulfilling Customer needs
- Assessing International Market requirements
- INCOTERMS 2010 important changes

• Commercial Documents
- Export Quotation
- Pro-Forma Invoice
- Commercial Invoice

• Modes of Distribution
- Air, Sea, Road & Rail
- Transport Documents
- B/L, AWB, CMR, etc

• Shipping Case Study
- Planning and Organising
- Financial costing issues
- Case Discussion

• Customers and Transport Partners
- Shipping Instructions
- Documentary issues
- Third Party issues.

• Insurance
- Marine Cargo Insurance

• Questions and Review

For more details see pdf below. Please contact us for bookings.