LC & UCP Export/Import Management | Simfotix
 
Finance For Non-Finance  Professionals

LC & UCP Export/Import Management



22 Feb 2017

Dubai



AED 1600

per participant

Overview

In international trade counter part y risk and country risk cannot be avoided. More than a century, instruments like letters of credit and bank guarantees are used by the companies for trade settlements and to mitigate their risks.

This program will exclusively address the operational issues in letters of credit transactions with detailed discussions on important UCP 600 articles relating to each filed in the standardised SWIFT LC format. This will enable the participants to interpret the implications of the terms and conditions in a letter of credit. One live case study will be circulated to the participants for effective understanding.

Course Outline
Understanding Letter of Credit (LC)
  • The dynamics of Foreign Trade
  • Need & Importance of LC
  • Types of LCs
  • Risk Attached to Various Types of LCs
  • Parties to LC
  • Issuing & Advising Bank
  • Importance of Underlying Contract
Types & Terms of LCs
  • Sight LC
  • Deferred Payment / Usance Lcs
  • Risk & Risponsibilities of Parties to LC
  • Risk of Issuing Bank in Various Types of LCs
  • Documents required under LC
  • Adding Confirmation to LC
  • Role, Risk & Responsibilities of Confirming Bank
Incoterms
  • What are INCOTERMS
  • Rights & Responsibilities of Parties Under Various INCOTERMS
  • INCOTERMS for Multimodel Transportation
  • Maritime INCOTERMS FAS, FOB, CFR, CIF
  • Any mode INCOTERMS EXW, FCA, CPT, CIP, DAP, DAT. DDP
  • Risk Associated with Various INCOTERMS

Test Your Understanding INCOTERMS

Export Documentation & Common Discrepancies
  • Certificate of Origin
  • Shipping Document - Bill of Lading
  • Commercial Invoices
  • Packing List
  • Insurance Policies & Certificate
  • Certificates from Chamber of Commerce
  • Attestations & Notarization
  • Common Mistakes in Export Documentation
Uniform Customs & Practices for Documentary Credit (UCP 600)
  • What is UCP 600
  • Difference Between UCP 600 and UCP 500
  • General Provision & Definitions Article 1 - 5
  • Liabilities & Responsibilities 6 -13
  • Examination of Documentation 14 - 17
  • Documents 18-28
  • Miscellaneous Provisions 29 - 33
  • Disclaimers 34 - 37
  • Transferable Credit & Assignment 34 – 39
Important Court Cases & Verdicts
  • Court Cases Related to Letter of Credits
  • Court Cases Related to UCP Terms
  • Court Cases Related to INCOTERMS
  • Court Cases Related to Discrepancies in Documentation
  • Court Cases Related to Terms of LC
Power Tools in the Workshop
  • Pre Test Quesitonaire to measure your subject knowledge
  • International Chamber of Commerce Case Study
  • Discrepancy Check List in LC Documentation
  • Case Studies: International Business – Foreign Trade
  • Post Course Study Material
Methodology

The course will use numerous case studies and will involve a considerable element of interactive class discussions. The Course Director will encourage delegates to question and test their knowledge at each stage of the course. At the end, all delegates will have a clear and full understanding of exactly how LC trade takes place currently across the globe at almost every level.

Course Facilitator
Aly Rehan Khan
ACMA –CGMA, CIMA UK
ITIL FoundationMr.

Aly Rehan is a highly profound and effective corporate trainer with decades long experience in numerous industries including banking, manufacturing and training. Currently engaged with top training and consulting companies in Middle East as freelance trainer and consultant and working for development of most precious resource of business organization i.e. their employees. His key topics include IFRS, Financial Management, Financial Control, Financial Statement Analysis, Cash Flow Management, Strategic Management, Global Corporate Reporting, Corporate Governance and Reporting. He bears extensive training experience in the government and private sector in UAE from mid to senior management. Appended to this profile are some of his recent trainings he delivered with a WOW experience. Besides an Associate of Certified Management Accountant and Certified Global Management Accountant from Chartered Institute of Management Accountants UK ACMA &CGMA, he holds a similar qualification in Management Accountancy from Pakistan. He is also a Diplomat Associate of Institute of Bankers, Pakistan and a to be Chartered Accountant from Institute of Chartered Accountants of Pakistan. He has a 9 years of experience of working with a global bank in various capacities including head of their training college, a four year articles with a reputed chartered accountant firm.

Testimonials