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.
