International Trade & Effective Handling / Processing of Letter of Credit

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Target Audience

Those who are involved in trade documentation, purchasing and supply, logistic operations, credit management, sales and marketing.

Course Overview

The letter of credit is an indispensable financing instrument used in international trade transactions. Parties to the letter of credit transaction have to abide by the rules governing its use. To many, such rules are confusing. Unfortunately, misinterpretation or misunderstanding of the terms may result in financial losses. Efficient processing of letters of credit documents is important in today’s business environment. Staff must be familiar with the UCP rules governing letters of credit transactions, the risks involved, rights and obligations of the various parties. Knowing how to process the documents correctly for letter of credit negotiation will help the company to save costs and minimise claims.

This seminar aims to provide sufficient working knowledge to participants to enable them to minimise costs and delays in their business transactions.

Course Duration

1 day : 9am to 6 pm (8 hours)

Course Outline

• Understanding International Trade
- Interpretation of International Trade Terms

• Methods of Financing International Trade
- The Open Account
- Documentary Collection - D/A and D/P Terms
- Documentary Credit – Irrevocable Letter of Credit

• Understanding Documentary Collections
- Difference Between Document Against Acceptance (D/A) and Document Against Payment (D/P)
- Parties Involved Under Documentary Collections
- Guide to Processing and Documentation Flow

• Essentials of a Letter of Credit
- The Parties Involved in a Documentary Credit
- Obligations and Roles of Banks
- UCP Guidelines and Letter of Credit Uses

• Flow of a Letter of Credit
- How to Issue a Documentary Credit
- Document Presentation Flow
- Specifying The Right Terms and Conditions

• Understanding The Related Documentation and The Shipping Issues
- Preparation of Key Supporting Documents
- Common Shipping Issues

• Types of Credit and Their Effects on Users
- Revocable Credit
- Irrevocable Credit
- Confirmed Irrevocable Credit

• What Beneficiary Should Do To Prevent Discrepancies When Preparing Documents For Bank Negotiation
• Discrepant Documents And How To Handle Them
• Factors That Cause Delay In Payment And How It Could Be Avoided

Course Location

SLA Training Centre :
No 2 Bukit Merah Central
#04-02 SPRING Singapore Building
Singapore 159835

Certification

A Certificate of Achievement will be awarded upon successful completion of the course.

Price

• Price (Includes GST)
  Full Course Fee:
  -$203.30 (For SLA Member / Self-Sponsored)
  -$246.10 (For Non-Member)
  Nett Course Fee (after SDF training subsidy) :
  -$187.30 (For SLA Member)
  -$230.10 (For Non-Member)
  

Funding Info

The course is an Approved-in-Principle (AIP) course under the SDF EasyNet with a support level of $2.00 per training hour. (Please note that the AIP status is subjected to renewal by the Skills Development Fund.) Sponsoring companies who fulfill the following criteria, are required to pay only the unsupported portion of the course fee to association :

- Participants must be Singaporeans or Permanent Residents or 3-year Work Permit Holders.
- Companies must be registered in Singapore and bear the full training cost.
- Only company cheques are allowed for payment of course fees.

As the association endeavour to qualify the course for renewal of AIP status each year, all sponsoring companies are required to sign a letter of undertaking in which they will undertake to bear the portion supported by the Skills Development Fund to the association should their sponsored staff fail to achieve 75% attendance and/or are absent from the examination.

Enquiry

Type of enquiry Corporate Individual

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