GLOBAL TRADE FINANCE PROGRAM. IFC International Trade Finance e-learning. Facilitated by
|
|
- Sherilyn Lambert
- 5 years ago
- Views:
Transcription
1 GLOBAL TRADE FINANCE PROGRAM IFC International Trade Finance e-learning Facilitated by
2 Since its inception in 2006, we have conducted more than 250 training programs in 67 countries, benefitting over 6,000 bankers and SMEs. ABOUT GTFP 02 Global Trade Finance Program Since 2005, IFC has provided over 26,000 trade finance guarantees under the Global Trade Finance Program (GTFP) to support more than $44 billion in emerging market trade. Through the GTFP bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. The GTFP has developed an expansive network of Confirming and Issuing banks in over 90 countries. Full information on the GTFP can be found at: Trade Advisory The IFC Trade Advisory Services is an integral part of the GTFP. It provides tailored and demand-driven capacity building assistance to banks in various functional areas related to Trade Finance. Since its inception in 2006, the IFC Trade Advisory Services has amassed a substantial base of knowledge, resources and training material to support its program, and has conducted more than 250 training programs in 67 countries, benefitting over 6,000 bankers and SMEs.
3 A recognized and affordable e-learning in Trade Finance since Structured training in best practice in International Trade Finance. Price of EUR 550 for 50 hours of interactive content, online support from a team of trade experts from ebsi Export Academy, online assessments, certificate of completion from ebsi and IFC. Certificate of completion provides 16 Professional Development Units (PDUs) towards recertification of Certified Documentary Credit Specialists (CDCS) and Certificate for Specialists in Demand Guarantees (CSDG) offered by BAFT-IFSA and IFS. 87% 0f participants received their first qualification in International Trade through the program. Learner joins worldwide network of participants with similar focus on developing international trade finance knowledge and skills. Previously known as the IFC FIT initiative, this specialized training program, sponsored by IFC, has over 800 professional graduates. This e-learning program has been revised, updated and expanded. ebsi Export Academy ebsi Export Academy has worked with the International Finance Corporation in developing the IFC Trade Finance e-learning program using its extensive team of trade finance experts and industry knowledge to create a practical and focused standard qualification for trade bankers all over the world. ebsi Export Academy provides specialist International Trade and Trade Finance Training to SMEs, Large Corporates, Banks, Government agencies and International Trade Development Agencies around the world. They are a provider of online trade finance training for a number of multilateral development banks and work closely with some national committees of the International Chamber of Commerce. ONLINE LEARNING 03
4 Modules 1. Methods of Payment INTRODUCTION: Classification of Different Methods of Payment Criteria for the Choice of a Method of Payment Factors Affecting the Importer s and the Exporter s Choice Trust and Good Faith Bank Services Receiving Payment for Bad Debts - Collection Agencies Analysis of Methods of Payment Other Methods of Payment for Export Payback Non-Monetary Methods of Payment PAYMENT BY CHEQUE BANK DRAFT BANK TRANSFER: Documentary Payment Order CLEAN COLLECTION DOCUMENTARY COLLECTION COURSE OUTLINE COUNTRIES AND PAYMENT TERMS BONUS: China Systems BPO demo BPO Opening Screen BPO Background What is BPO BPO Process BPO Process schematic BPO Final 2. Documentary Collection INTRODUCTION: Definition of Collections Collections Background Collection Instructions The Collection Order DOCUMENTARY COLLECTION: Documentary Collection Documentary Collection Cycle CLEAN COLLECTION BILL OF EXCHANGE : Term Bills Guaranteed or Avalized Bills of Exchange MANAGING COLLECTIONS : Documentary Collections - Workflow Summary Overview of the Uniform Rules for Collections 3. Documentary Credits Fundamentals THE DOCUMENTARY CREDIT: Why Letters of Credit are Used Guarantees for the Importer and the Exporter Documentary Credit Rules Example of SWIFT The Parties to a Documentary Credit Documentary Credit Cycle Comment on Documentary Credits Graphical Summary Documentary Credit and the Importer Documentary Credit and the Exporter Suggestions for the Exporter Opinion OPENING A LETTER OF CREDIT: Opening a Letter of Credit Letter of Credit and Contract of Sale Banks and the Goods Non-Compliance with the Terms of the Contract Bank Charges THE DOCUMENTARY CREDIT: Why Letters of Credit are Used Guarantees for the Importer and the Exporter Documentary Credit Rules Example of SWIFT The Parties to a Documentary Credit Documentary Credit Cycle Comment on Documentary Credits Graphical Summary Documentary Credit and the Importer Documentary Credit and the Exporter Suggestions for the Exporter Opinion OPENING A LETTER OF CREDIT: Opening a Letter of Credit Letter of Credit and Contract of Sale Banks and the Goods Non-Compliance with the Terms of the Contract Bank Charges CONTENTS OF DOCUMENTARY CREDIT: Unconfirmed Irrevocable Letter of Credit Tolerance Partial Shipments Transhipment Type of Letter of Credit Form of Advice of a Letter of Credit Date and Place of Expiry Date of Issue of the Credit Description of the Goods Advice and Confirmation of the Letter of Credit Amendments Details on Transport IMPORT LETTERS OF CREDIT: Items to check with the importer Completing Documentary Credit (DC) Application Form Internal Records 04 TRANSMISSION OF DOCUMENTARY CREDIT: Charges for Documentary Credits
5 4. Management of Documentary Credits AVAILABILITY OF LETTER OF CREDIT: Letter of Credit available by Acceptance Letter of Credit available by Negotiation DOCUMENTS IN A LETTER OF CREDIT: Documents for Presentation Comment on UCP Which Documents to Request? Copies or Originals? Other Documents and their Contents Discrepancies Action if Documents have Discrepancies Summary of Action if Documents are Discrepant Clean Transport Document On Board Bill of Lading Sea Waybill Insurance Documents Date of Issue of Insurance Documents CMR Convention Air Waybill CHECKLISTS FOR DOCUMENTS IN AN L/C TYPES OF LETTER OF CREDIT (I): Revocable Letter of Credit Transferable Letter of Credit Back-to-Back Letter of Credit Standby Letter of Credit Revolving Letter of Credit Red and Green Clause Letters of Credit Latest Developments in Letters of Credit TYPES OF LETTER OF CREDIT (II): Irrevocable Letter of Credit Confirmed Irrevocable Letter of Credit Unconfirmed Irrevocable Letter of Credit Summary - Types of Documentary Credit 5. Bonds and Guarantees INTRODUCTION: Issuers of Guarantees Categories of Bonds or Guarantees Tender Bond Exporters and Tender Bonds PERFORMANCE BOND: Purpose of Performance Bond or Guarantee Exporters and Performance Guarantees Performance Guarantees and Documentary Credits Amount of the Performance Guarantee ADVANCE/ PROGRESS PAYMENT BOND: Purpose of Advance/Progress Payment Bond or Guarantee Advance Payment Guarantees and Documentary Credits Amount of the Advance/Progress Payment Guarantee RETENTION BOND: Other Types of Guarantees ON DEMAND BOND: Rules Governing Demand Guarantees CONDITIONAL BOND: Advantages of Conditional Bonds or Guarantees MANAGING BONDS AND GUARANTEES: Bank Obligations to the Beneficiary Payment Guarantee Importance of Correct Wording in Bonds or Guarantees Bonds or Guarantees Customer Liability Records Procedure for Obtaining Release from Liability ICC Rules for the Issuance of Bonds and Guarantees Bank Charges and Fees in Respect of Bonds and Guarantees Standby Letter of Credit Managing Bonds and Guarantees 6. Short and Medium Term Finance INTRODUCTION: Overtrading and Liquidity Short Term Finance Working Capital Management Cash Conversion Cycle MANAGEMENT OF RECEIVABLES: Trade Receivables Policy INVOICE DISCOUNTING: Invoice Discounting how it works FACTORING: Benefits of Factoring Obstacles to Growth of Factoring Import and Export Factor Comparison between Factoring and Invoice Discounting Comparison between Factoring and Forfaiting Comparison between Forfaiting and Factoring BILL DISCOUNTING: Bill of Exchange Discounting how it works FORFAITING: Definition of Forfaiting Endorsements Aval as a Form of Guarantee Application of Forfaiting Primary and Secondary Forfaiting Markets Forfaiting and Benefits for Exporter Advantages of Forfaiting Cost of Credit The Rate of Discount Forfaiting Example 05
6 7. Factoring Fundamentals INTRODUCTION TO FACTORING: The Factoring Division Factoring or Invoice Purchase Procedures Initial Procedures Mechanics of Processing a Client Order THE FACTORING AGREEMENT: The Factor s Discretion Fees Termination Personal Guarantee The Contract The Contract - Warranties Purchase All Acceptable Accounts by Factor Prior Approval of Sales Notice of Assigned Invoices to appear on all Invoices Purchase Price and Margin Authorization to the Factor for Charges and Obligations Procedures for approved account invoices Reserve of Facial amounts of invoices over finance provided Receipt of Goods without Dispute Credit Terms Solvency and law provisions 8. ECA and Warehouse Finance ECA BASED FINANCING: Medium to Long Term Financing Market Characteristics Long-Term Financing Needs Participants in the Market Export Credit Agencies Export Credit Agencies - Protections SUPPLIER CREDITS: Supplier Credits (continued) Mechanics of the Supplier Credit Advantages of Supplier Credit Disadvantages of Supplier Credit Players and Relationships in Supplier Credit Commitment, Draw-down, and Payback in Supplier Credit BUYER CREDITS: Mechanics of the Buyer Credit Advantages and Disadvantages of Buyer Credit Players and Relationships in the Buyer Credit Commitment, Draw-down, and Payback in a Buyer Credit Buyer Credit (Refinancing) Comparison: Supplier and Buyer Credits Bank Earnings and Fees OECD Consensus or Arrangement Benefits to Banks Export Credit Insurance and the Berne Union Benefits of Export Credit Insurance Examples of Main ECA Providers and their Mission Statements WAREHOUSE FINANCE 06
7 9. Commodity Trade Finance STRUCTURED TRADE FINANCE COMMODITY TRADE FINANCE: Commodities and Trade What Commodities can be financed? Commodity Trade Finance The Players Commodity Finance and Risk/Mitigation LETTERS OF INDEMNITY: Letters of Indemnity Letters of Indemnity Other Purposes Working with LOIs in favor of the Carrier Things to consider when working with LOIs COLLATERAL CONTROL FOR TRADE FINANCE: Collateral Control for Trade Financing Techniques Repayment Seniority Collateral Protection Unsecured vs. Secured Lending Establishing Collateral Values Establishing Net Realizable Value ( NRV ) Accounts Receivable A Correct Receivable Inventory Inventory Insurance Advance Rates Advance Rates for Inventory Collateral Control The Bill of Lading 10. Trade Finance Fraud Identification and Prevention SPECIFICS OF INTERNATIONAL TRADE FINANCE FRAUD: Definition of Trade Finance Fraud LETTERS OF CREDIT AND UCP 600: Article 7 Issuing Bank Undertaking Article 12 b. Nomination Veracity of Documents Acting in Good Faith Entitlement to Reimbursement Case History - Fake Inspection Certificate Presented BONDS & GUARANTEES IN INTERNATIONAL TRADE: Definition of a Bond/Guarantee Reasons for Requiring a Guarantee Issuers of Guarantees Direct / Indirect Guarantees Categories of Bonds or Guarantees Customer Implications re. Issued Bonds and Guarantees Customer Implications re. Issued Bonds and Guarantees Banks Consideration when Issuing a Demand Guarantee Wording in Bonds/Guarantees Issued by a Bank Wording in Bonds/Guarantees Issued by a Bank The Guarantee and the Contract Standby Letter of Credit Guarantees, Standby LCs & Fraud - Example Scenarios THE BANK AND CUSTOMER RELATIONSHIP: Basics of Know Your Customer (KYC) Basics of Know Your Customer (KYC) Know Your Customer (KYC) Anti Money Laundering (AML) Due Diligence TRADE FINANCE FRAUD PREVENTION: The Occurrence of Letter of Credit Fraud User of Trusted Third Parties Highly Complex Transactions to Cause Confusion Authentication of Documents Money Laundering Overcoming inadequate AML Legislation The use of technology to avoid trade finance fraud LC INDEPENDENCE PRINCIPLE & FRAUD EXCEPTION 07
8 CERTIFICATION OF COMPLETION Graduation Guarantee For group enrolments we offer flexibility in timing and duration and a guarantee that every enrolment will result in a graduation We will replace any drop-outs or inactive participants or participants who leave the organisation free of charge (subject to a fair usage policy). 16 PDUs towards CDCS and CSDG re-certifications 800+ Professional graduates 550 EUR 50 Hours of training 08
9 I see myself better now than before in terms of International Trade and Finance. The IFC FIT program help me to handle conflict situations and teach me how to solve those serious issues. Nazir Hossain Head of Import & Guarantee Eastern Bank Ltd. Bangladesh This is a highly interactive, extremely inspiring and life changing program. The programs build confidence in operating Foreign Trade and Finance Business. I had the most interest in the practical based assessment sessions and was delighted with my scores in the assessment of both the qualification launched both by ICC Bangladesh in collaboration with the IFC and ebsi Export Academy. Md. Ashraf Ali Senior Human Resources Officer Mutual Trust Bank Limited Without solid foundations it is impossible to build something solid! The FIT Initiative of the IFC provides a solid foundation in the key areas for skill and knowledge in international trade finance. At Eastern Bank Limited we have seen graduates of the program move through an accelerated learning curve to become proficient in the delivery of trade finance products and services to our expanding trade customer base. Our staff have enjoyed the learning experience and appreciated being part of an expanding network of certified international trade finance professionals. Ahmed Shaheen Head of Structured Trade Finance, Eastern Bank The IFC FIT Program is a comprehensive one stop solution for all the trade finance professionals. It enriches you with the latest ICC standards and publications along with the basic concepts involved in the documentary credits. Jawad Iqbal Assosiate, Bank Alfalah Islamic Banking TESTIMONIALS 09
10 10 The IFC-FIT program is an eye opener as far as trade education is concern. It opened me up to the other relevant trade certifications which I have now completed like ISP Master, ITS, ACIT and UCP Upskill. Bamidele Ayemibo Trade Product Manager, Diamond Bank As a trainer, I want to say that my acquisition of the knowledge on Trade Finance through the IFC-FIT initiative gave me the necessary tools required to impact on the students who were basically management trainees for induction towards being employed by the deposit money banks in Nigeria. The online interaction was quite an experience as it afforded me to have diversed local experiences to be shared on line. Molly Akanji Executive Director, Sofomax Consult The study was so real to my daily work. I was able to practically apply most of the things learned. The material covered was relevant to Trade finance daily cases on collection and letters of credit. I was able to get answers to on complicated cases which my clients needed answers immediately. The response from the tutors was given on time and was well informed and up-to-date and relevant to the cases. The student s interaction was very exciting and interesting and the fact that the students shared freely their experiences was encouraging. Eunice Monzi Head of Trade Finance, Victoria Commercial Bank I have been a trade specialist for over a decade. Notwithstanding my experience, I would like to say that it was my participation in the IFC-FIT Initiative course that brought a turning point to my career in terms of finding practical solutions to some trade challenges for which access to ICC recognized experts and practical discussion through the trade finance forums has proven to be a real benefit. Moses Akinnawonu Group Head of Trade Services, Sterling Bank
Introduction to Letters of Credit 1-Day This course can also be presented in-house for your company or via live on-line webinar
Introduction to Letters of Credit 1-Day This course can also be presented in-house for your company or via live on-line webinar The Banking and Corporate Finance Training Specialist Course Objectives Participants
More informationInternational Trade Finance
International Trade Finance A 4-Day Masterclass This course is presented in London on: 12-15 November 2018 The Banking and Corporate Finance Training Specialist Course Objectives Participants on the 2-day
More informationInternational Trade Finance Recertification Services
International Trade Finance Recertification Services CDCS / CSDG Recertification Course Recognition Guidelines for Course Providers These guidelines apply to both CDCS and CSDG Recertification Courses.
More informationUCP600 & International Trade Services
UCP600 & International Trade Services a twin-suite of financial e-learning course libraries 2980 Pacific Highway San Diego, CA 92101-4368 U.S.A. Ph: 619.615.0868 Fax: 619.615.0876 UCP600 Overview This
More informationTRADE FINANCE PRODUCTS
TRADE FINANCE PRODUCTS Thriving international trade is a sign of a healthy global economy. Exports and imports combined drive a huge amount of growth and development in the world, but especially in emerging
More informationAmendment to a Documentary Credit Advice of a Third Banks Documentary Credit. Transfer of a Documentary Credit Transfer of a Documentary Credit
SWIFT CODE Category 7: Documentary Credits and Guarantees Message type MT 700 MT 701 MT 705 MT 707 MT 710 MT 711 MT 720 MT 721 MT 730 MT 732 MT 734 MT 740 MT 742 MT 747 MT 750 MT 752 MT 754 MT 756 MT 760
More informationAdvanced Trade Finance This course is presented in London on: February 2018, November 2018
Advanced Trade Finance This course is presented in London on: 07-08 February 2018, 14-15 November 2018 The Banking and Corporate Finance Training Specialist Course Objectives Participants will: Explore
More informationContents. PAGE u Foreword I-5 u Certificate in Trade Finance I-7 u Syllabus I-9 u Chapter-heads I-11 SECTION 1 MACRO PERSPECTIVE
Contents u Foreword I-5 u Certificate in Trade Finance I-7 u Syllabus I-9 u Chapter-heads I-11 SECTION 1 MACRO PERSPECTIVE CHAPTER 1.1 THEORIES OF INTERNATIONAL TRADE International Trade u The Theory of
More informationLEGAL NATURE OF THE LETTER OF CREDIT
Table of Contents Preface... Table of Cases... v TC-1 Chapter 1 INTRODUCTION... 1-1 1. Definitions... 1-1 2. Foreign Trade Transactions... 1-3 3. Domestic Use... 1-8 (a) Sources of Law... 1-12.1 4. Types
More informationTrade finance. Key trade finance instruments
38 Trade finance Treasurers who are involved in the sale of goods to or, the purchase of materials from, overseas companies need to be aware of the increased risks involved when crossing international
More informationDocuments Against Acceptance (D/A)
Terms of Payment 0 Terms of Payment Documents Against Acceptance (D/A) Arrangement under documentary collection in which an exporter instructs the presenting bank to hand over shipping and title documents
More informationStart Trade Payment Methods with the overview of the part. Show the Slide 2-66 and clarify each topic given in the overview.
Overview 5 minutes Overview Start Trade Payment Methods with the overview of the part. Show the 2-66 and clarify each topic given in the overview. 2-66 Objectives 5 minutes What are you expecting to learn
More informationDocumentary Credit A payment service with built-in security. Trade Finance
Documentary Credit A payment service with built-in security Trade Finance 1 Faster and safer payments no matter where you do business The essence of Trade Finance is creating conditions for more profitable
More informationLetters of Credit Operations & Incoterms 2010
The Letter of Credit (LC) or the Documentary Credit (DC) is a very ancient payment device. Its present form and the rules that govern it evolved from the international sale of goods. In recent decades
More informationRisk in Trade Finance and Trade Finance Products
Risk in Trade Finance and Trade Finance Products A 2-day course This course can also be presented in-house for your company or via live on-line webinar The Banking and Corporate Finance Training Specialist
More informationINTERNATIONAL TRADE FINANCE SERVICES
INTERNATIONAL TRADE FINANCE SERVICES DOCUMENTARY LETTERS OF CREDIT A PRACTICAL GUIDE CONTENTS LETTERS OF CREDIT SIMPLY DEFINED.............................................2 BENEFITS OF A LETTER OF CREDIT...............................................3
More informationContents. Recommended reading. Chapter-heads CHAPTER 1.1 CHAPTER 1.2 MACRO PERSPECTIVE PAGE THEORIES OF INTERNATIONAL TRADE
Contents Foreword Recommended reading Syllabus Chapter-heads iii v vii ix CHAPTER 1.1 SECTION 1 MACRO PERSPECTIVE THEORIES OF INTERNATIONAL TRADE u International trade 3 u International trade theory 3
More informationStandard Chartered Global Master Trade Terms
Standard Chartered Global Master Trade Terms These are the Global Master Trade Terms referred to and incorporated into the Agreement between the Bank and each Borrower and are supplemental to the Global
More informationTransferable Credits - UCP600 Article 48 and Beyond -
Transferable Credits - UCP600 Article 48 and Beyond - Issue 1 The issuing bank of a documentary credit is authorized to pay, incur a deferred payment undertaking accept or negotiate and the advising bank
More informationGUIDE to IMPORTING and EXPORTING
- GUIDE TO IMPORTING AND EXPORTING - GUIDE to IMPORTING and EXPORTING INTERNATIONAL BANKING MAY 2015 - VERSION 4.0 2 TABLE of CONTENTS - GUIDE TO IMPORTING AND EXPORTING - INTRODUCTION 1 WE HAVE THE SOLUTIONS
More informationTrade Solutions Start 2 Export
Trade Solutions Start 2 Export FIT Exportbeurs Nele De Cock Christel Heynickx Frank Haak Brussels, 27 29 June 2016 1. International trade from a client perspective: Trade Chain Explore Buy Manufacture
More informationING Trade Finance Services. The Documentary collection. Wholesale Banking
ING Trade Finance Services The Documentary collection Wholesale Banking Contents Introduction... 2 Definition... 3 Introduction and notion of risk... 4 Mechanism... 5 Dispute at the time the documents
More informationDubai Trade Based Financial Crime Regulations Workshop. Saturday, 2 April
Dubai 2016 Trade Based Financial Crime Regulations Workshop Saturday, 2 April 1 Trade Based Financial Crime Sheraton Dubai Creek Hotel & Towers Baniyas Road Deira Dubai, UAE Saturday, 2 April 2016 8:30-9:00
More informationThe Lee Kong Chian School of Business Academic Year 2013 / 14 Term I
The Lee Kong Chian School of Business Academic Year 2013 / 14 Term I FNCE 310 TRADE FINANCE Instructors Name : Yong Meng / Jayesh Avlani Title : Adjunct Faculty of Finance Email : mengyong@smu.edu.sg Office
More informationCourses Approved for Continuous Professional Development CDCS and CSDG 2015
and CSDG Date Course Title Country Contact Details PDU s Awarded ICC Trade Annual Survey Chamber of International Commerce liyuanzi@ccoic.cn Tel: +861082217891 12.5 12-13 January 19-20 January 26-27 January
More informationUnderstanding and Using Letters of Credit, Part I
Understanding and Using Letters of Credit, Part I Letters of credit accomplish their purpose by substituting the credit of the bank for that of the customer, for the purpose of facilitating trade. There
More informationDigitising Trade Finance using MT 798 Facilitating multi-banking in documentary trade finance
Digitising Trade Finance using MT 798 Facilitating multi-banking in documentary trade finance SWIFT s Corporate and Supply Chain Market Management team supplychain@swift.com July 2016 Challenges and drivers
More informationAppendix C Survey Instruments
Appendix C Survey Instruments On September 5, 2012, IEG sent a survey questionnaire to 216 issuing banks and 227 confirming banks in IFC s GTFP network. Seventy five issuing banks (35 percent of the total)
More informationBOV Letters of Credit
your guide to: General Product Information Our Services The Benefits Your Checklist Your Next Step Important Information Our Interest Rates Our Fees and Charges Important Information relating to the undertaking
More informationLatest ICC Opinions. Rita Ricci, CDCS Global Head, Trade Expertise Desk BNP Paribas
Latest ICC Opinions Rita Ricci, CDCS Global Head, Trade Expertise Desk BNP Paribas Normand Girard, CDCS Director, Global Trade Operations BMO Financial Group TA.832rev CASE: - Letter of credit issued subject
More informationGrowing Globally: Nicole Weidlein. An International Trade Finance Boot Camp for Exporters. Wells Fargo International Group.
Growing Globally: An International Trade Finance Boot Camp for Exporters Daniel Duffy JP Morgan Chase Lynne Gruel KeyBank Nicole Weidlein Wells Fargo International Group Agenda Introduction of Speakers
More informationOracle Banking Digital Experience
Oracle Banking Digital Experience Corporate Trade Finance User Manual Release 17.2.0.0.0 Part No. E88573-01 July 2017 Corporate Trade Finance User Manual July 2017 Oracle Financial Services Software Limited
More informationTrade Finance towards CDCS and CSDG PDU s Points, 6.5 Law Society CPD Points granted
Trade Finance towards 2020 6.5 CDCS and CSDG PDU s Points, 6.5 Law Society CPD Points granted Introduction The world of trade finance has entered an era of significant change. Global and regional regulations
More informationURDG 758 Best Practice
Advanced Workshop on: URDG 758 Best Practice Do's and Don ts of Drafting URDG compared to UCP 600 / ISP 98 The new URDG 758 2018 survey Reports on adoption of URDG from around the world URDG 758 and challenging
More informationFCIB Webinar Series DOCUMENTARY COLLECTIONS. Instructor: Aysegul Budak, VP Commercial Lender, WBC
FCIB Webinar Series DOCUMENTARY COLLECTIONS Instructor: Aysegul Budak, VP Commercial Lender, WBC October 19, 2017 1 International Trade Credit Risks International Trade Payments and Risk Levels Agenda
More informationTrade Finance. Supporting Importers & Exporters. Global Markets
Trade Finance Supporting Importers & Exporters Global Markets Introduction Whether you are an importer or exporter, overseas trade risk represents a significant factor in the development of your business.
More informationA Guide to International Trade and Letters of Credit
A Guide to International Trade and Letters of Credit Michael J. Scheller Sterling National Bank International Banking Division 500 7th Avenue New York, NY 10018 Phone: 212-575-8012 email: michael.scheller@sterlingnationalbank.com
More informationCanada 2015 BAFT GLOBAL TRADE FINANCE WORKSHOP. November 5 6, Toronto, Canada Hosted and sponsored by BMO
Canada 2015 BAFT GLOBAL TRADE FINANCE WORKSHOP November 5 6, 2015 Toronto, Canada Hosted and sponsored by BMO Workshop Hosted by Thursday, November 5 8:00AM - 8:30AM Breakfast & Registration 8:30AM 8:45AM
More informationDigitalisation - is it time for the letter of credit to move forward?
Digitalisation - is it time for the letter of credit to move forward? CDCS and CSDG PDU s Points, Law Society CPD Points will be applied for Introduction Annual volumes of letters of credit have fallen
More informationLETTERS OF CREDIT. A Guide to Letters of Credit
LETTERS OF CREDIT A Guide to Letters of Credit This manual was created as resource guide for members of the Saskatchewan Trade and Export Partnership (STEP). For more information on these manuals or on
More informationGuidance Paper. ICC Commission on Banking Technique and Practice
Guidance Paper ICC Commission on Banking Technique and Practice Guidance Paper Guidance Paper on the Use of Sanction Clauses for Trade Related Products (e.g. Letters of Credit, Documentary Collections
More informationStandard Chartered Bank
Standard Chartered Bank (Hong Kong) Limited Trade Services Schedule of Standard Charges (Effective 1 st July 2018) Imports Opening Commission on Documentary Credits Irrevocable Documentary Credits Back-to-back
More informationClassic Forfaiting: The Primary Market. Presented by Gregory Bernardi
Classic Forfaiting: The Primary Market Presented by Gregory Bernardi Objective Define Primary Forfaiting. Explain the role of the Primary Forfaiter. Provide a understanding of the mechanics of a Primary
More informationArt. 1 Application of UCP
The Uniform Customs and Practice for Documentary Credits, 2007 Revision, ICC Publication no. 600 ( UCP ) are rules that apply to any documentary credit ( credit ) (including, to the extent to which they
More informationApplication for Issuance of Letter of Credit (LC) / Back to Back Letter of Credit (B2BLC)
Application for Issuance of Letter of Credit (LC) / Back to Back Letter of Credit (B2BLC) For Bank Use Ref No.: Attach additional sheets if there is insufficient space, to be signed by applicant's authorised
More informationClient Briefing 23 January 2019
Client Briefing 23 January 2019 Launch of Master Participation Agreements by IIFM and BAFT as new standard documentation The publication of the two long-awaited master participation agreements mentioned
More informationA note on available information concerning trade finance
1 GCF2011.TFdataARMACv2rev A note on available information concerning trade finance by Andrew Cornford, Observatoire de la Finance and Alexander R. Malaket, CITP, President,OPUS Advisory Services International
More informationCASE STUDIES ON DOCUMENTARY CREDITS AND UCP600
CASE STUDIES ON DOCUMENTARY CREDITS AND UCP600 CASE STUDY 1 Banks have a practice of calling for the original LC at the time of presentation of documents and endorse any drawings on its reverse. LC's may
More informationUnderstanding the Letter of Credit Process
Understanding the Letter of Credit Process What Every Exporter Needs to Know FCIB Webinar January 17, 2019 Chip Thomas, FCIB Instructor American Export Training Institute cthomaspa@gmail.com (610) 563-6335
More informationSTANDARD ISLAMIC TRADE FINANCE TARIFF
Import Services Letter of Credit-i (LC-i) 1. Irrevocable LC-i Opening commission 0.1% per month or part thereof. 2. Back-To-Back LC-i a. Opening commission 0.125% per month or part thereof. Min: RM300
More informationThe Handbook of International Trade and Finance
The Handbook of International Trade and Finance The Complete Guide to Risk Management, International Payments and Currency Management, Bonds and Guarantees, Credit Insurance and Trade Finance by Anders
More informationeihbank Europäisch-Iranische Handelsbank AG
ACCOUNT SERVICES Maintenance fee 25.00 per month Deposit fee on EUR ledger credit balances (effective 01.11.2016) 0,40 % p.a. Account reporting - Interim balance/transaction report by fax 25.00 per fax
More informationYOUR FINANCIAL PARTNER
YOUR FINANCIAL PARTNER INTERNATIONAL BANK FOR ECONOMIC CO-OPERATION 1963 established over 50 years of experience Key Information BRIEF HISTORY AND MISSION Established in 1963 as an international financial
More informationINTERNATIONAL BUSINESS
INTERNATIONAL BUSINESS PART 1: TRADE AND EXPORT FINANCE SECTION 2: COLLECTIONS TABLE OF CONTENTS PAGE COLLECTIONS... 2 INTERNATIONAL RULES THE COLLECTION PROCESS FAQ: COLLECTIONS... 3 GLOSSARY: COLLECTIONS...
More informationTerms and Conditions Import Documentary Credits
Terms and Conditions Import Documentary Credits The terms and conditions set out in this document apply in respect to any Import Documentary Credit ("Credit") Application from the Customer and subsequently
More informationCWCT COMMONWEALTH CAPITAL TRUST in alliance COMMONWEALTH EUROCREDIT
CWCT COMMONWEALTH CAPITAL TRUST in alliance COMMONWEALTH EUROCREDIT www.cwcapitaltrust.com ATTENTION IMPORTERS! Have you Run Out of AVAILABILITY of Funds or Credit for your Imports? Letters of Credit Trade
More informationICC response to the Basel Committee Consultative Document on Strengthening the Resilience of the Banking System
Position Paper Prepared by the ICC Commission on Banking Technique and Practice ICC response to the Basel Committee Consultative Document on Strengthening the Resilience of the Banking Highlights The Basel
More informationStandard Chartered Bank
Standard Chartered Bank (Hong Kong) Limited Trade Services Schedule of Standard Charges Doc Version 2.0 1 (Effective 01 July 2015) 1 Version 2.0 is issued on 01 October 2015 to include the Handling Charges
More informationCase Studies on Documentary Credits & Bank Guarantees
ICC Austria & EBRD Technical Assistance Workshop: Case Studies on Documentary Credits & Bank Guarantees Step 1: Submit your real-life cases Step 2: Discuss your challenges with many colleagues from around
More informationInstructions for Memorandum items (PRA 108)
Instructions for Memorandum items (PRA 108) These data provide information on various memorandum and off balance sheet items, as previously reported in the Memorandum items section of the FSA001(Balance
More informationSpecialization in Banking
Specialization in Banking Training Program This highly specialized and concentrated Program is ideally suited to following individuals who: Are fresh University Graduates and like to pursue a career in
More informationBANK OF INDIA, HONG KONG APPLICA TION FOR DOCUMENTARY CREDIT
: i - ~- -~- 44A Shipment from : 44B Transportation to L -- - BANK OF INDIA, HONG KONG APPLICA TION FOR DOCUMENTARY CREDIT The Deputy General Manager I The Asst. General Manager I Chief Manager I Manager,
More informationCIB Operations Irrevocable documentary credit application form
CIB Operations Irrevocable documentary credit application form IMPORTANT GUIDELINES The following provides information and instructions to ensure the legal and technical accuracy of the completed application
More informationEXPORT PAYMENTS & FINANCE International Business Expansion Workshop
EXPORT PAYMENTS & FINANCE International Business Expansion Workshop Mobile Area Chamber of Commerce November 7, 2017 Export Tools and Risk Mitigation ALL BUSINESS IS RISKY. DO YOU REALLY WANT TO GAMBLE
More informationInternational Standard Banking Practice
ICC Austria Technical Assistance Seminar International Standard Banking Practice For the Examination of Documents under Documentary Credits Purpose and scope of ISBP Relationship of ISBP to UCP Using ISBP
More informationLIST OF TERMS AND CONDITIONS
I. Transfers Commission for outgoing forint and foreign currency transfers If the Client submits a transfer order in which the beneficiary is a third party. 0.15%, min. HUF 1,500, max. HUF 10,000 II. Documentary
More informationLETTER OF CREDIT NOTES IN DOCUMENTARY CREDITS. ADVANTAGES OF USING THE DOCUMENTARY CREDITS
NOTES IN DOCUMENTARY CREDITS. Prepared by Nguyen Minh Duc 2009 1 LETTER OF CREDIT l Any arrangement, however, named or described, whereby a bank (issuing bank) acting at the request and on the instructions
More informationTransaction Banking Cash Management Price Guide Oman
Transaction Banking Cash Management Price Guide Oman Standard Chartered Bank in Oman is a branch of Standard Chartered Bank and is regulated by the Central Bank of Oman. 07/2017 Cash Management Account
More informationTrade Payment Methods. Overview
Trade Payment Methods Overview This part covers the following topics: Cash in advance Open account On consignment Draft or documentary collection Letter of Credit Objectives By the end of this part, you
More informationTrading with confidence with bank guarantees
Trading with confidence with bank guarantees Corporate and Investment Banking Also trading as Stanbic Bank 1 Standard Bank your trade partner in, for and across Africa Trading with confidence with bank
More informationOpportunity Knocks Property Solutions Helping Create Your Opportunities Rent-to-Own Information www.okpropertysolutions.com WHAT IS RENT-to-OWN? Text Here If you are reading this document, you are likely
More informationMezra Forfaiting. What is forfaiting?
Mezra Forfaiting What is forfaiting? Mezra Forfaiting What is forfaiting? Forfaiting is a proven method of providing fixed-rate financing for international trade transactions. In recent years, it has assumed
More informationOUTLINE FOR CHAPTER 16
OUTLINE FOR CHAPTER 16 Understand Basic needs of export/import financing Main instruments (letter of credit, bill of exchange, and bill of lading) Export Credit Insurance Eximbank Countertrade 1 Chapter
More informationAvoiding Trade Frauds in an Uncertain Economic Climate
6 PDU s Points Granted for both CDCS and CSDG 6 Law Society CPD Points Granted Avoiding Trade Frauds in an Uncertain Economic Climate Background: The economic outlook in many parts of the world continues
More informationInvestigating the Policy of International Trading Companies of Iran in Using Letters of Credit
Journal of Politics and Law; Vol. 9, No. 4; 2016 ISSN 1913-9047 E-ISSN 1913-9055 Published by Canadian Center of Science and Education Investigating the Policy of International Trading Companies of Iran
More informationApplication for Processing Export Trade Transactions To : Hang Seng Bank Limited, Trade Services, Customer Unit
Application for Processing Export Trade Transactions To : Hang Seng Bank Limited, Trade Services, Customer Unit Please complete in BLOCK LETTERS and where appropriate. Please submit the full application
More informationFRAMEWORK & PRINCIPLES OF INTERNATIONAL BANKING INTERNATIONAL TRADE COMMERCE
FRAMEWORK & PRINCIPLES OF INTERNATIONAL BANKING INTERNATIONAL TRADE COMMERCE INDEX 1. Introduction 3 2. International means of collection and payment 5 2.1. Classification of the means of payment 7 2.2.
More informationBank of America Solutions for Importers. An Importer s Guide to Global Trade Services
Bank of America Solutions for Importers An Importer s Guide to Global Trade Services Bank of America Merrill Lynch Solutions for for Importers Exporters 1 Table of Contents An Importer s Guide to Global
More informationSTANDBY LETTERS OF CREDIT. SBLC s a perfect back up plan for your trade?
STANDBY LETTERS OF CREDIT SBLC s a perfect back up plan for your trade? 1 What is a SBLC The origins of the SBLC The differences with regular l/c s The differences with Bank guarantees The underlying rules
More informationFINANCING AND PAYMENT
PART V FINANCING AND PAYMENT Chapter 14: International Trade Chapter 15: Financing and Business Insurance Chapter 16: Negotiable Instruments Chapter 14 International Trade 14-i 14 International Trade
More informationSchedule of Charges Barbados Corporate Banking Effective: March 1, 2018
Barbados Corporate Banking Effective: March 1, 2018 1 CONTENTS 1 CORPORATE DEPOSIT AND TRANSACTION ACCOUNTS LOCAL CURRENCY 2 CORPORATE DEPOSIT AND TRANSACTION ACCOUNTS FOREIGN CURRENCY 3 SUNDRY SERVICES
More informationSchedule of Charges. Barbados. Corporate Banking. Effective: J une 20, 2017
Barbados Corporate Banking Effective: J une 20, 2017 1 CONTENTS 1 CORPORATE DEPOSIT AND TRANSACTION ACCOUNTS - LOCAL CURRENCY 2 CORPORATE DEPOSIT AND TRANSACTION ACCOUNTS - FOREIGN CURRENCY 3 SUNDRY SERVICES
More informationThe Bank Payment Obligation: Capital & Accounting Treatment
Discussion Paper Banking The Bank Payment Obligation: Capital & Accounting Treatment Prepared by the Commission on Banking s BPO Education Group Highlights Accounting & Capital Treatment of BPO are both
More information676 INTERNATIONAL TRADE AND FINANCE
Prescription: 676 INTERNATIONAL TRADE AND FINANCE Elective prescription Level 6 Credit 20 Version 2 Aim Prerequisites Recommended Prior Knowledge Assessment weightings Students will apply knowledge of
More informationLetters of Credit Oracle FLEXCUBE Universal Banking Release [October] [2015]
Letters of Credit Oracle FLEXCUBE Universal Banking Release 11.6.0.0.0 [October] [2015] Table of Contents Letters of Credit 1. ABOUT THIS MANUAL... 1-1 1.1 INTRODUCTION... 1-1 1.2 AUDIENCE... 1-1 1.3 ORGANIZATION...
More informationIslamic Letters of Credit Oracle FLEXCUBE Universal Banking Release [May] [2011] Oracle Part Number E
Islamic Letters of Credit Oracle FLEXCUBE Universal Banking Release 11.3.0 [May] [2011] Oracle Part Number E51536-01 Islamic Letters of Credit Table of Contents 1. ABOUT THIS MANUAL... 1-1 1.1 INTRODUCTION...
More informationDate. (Customer) (the Company ) Dear Sirs. Our Ref. MFA3-01. Master Forfaiting Agreement
Our Ref. MFA3-01 Date (Customer) (the Company ) Dear Sirs Master Forfaiting Agreement This Master Forfaiting Agreement (the Agreement ) sets forth the general terms and conditions that will apply to each
More informationUnderstanding Business Borrowers $150 COURSE DESCRIPTIONS
ABA SELF-PACED BUSINESS BANKING AND COMMERCIAL LENDING PROGRAMS A $10.00 shipping, recordkeeping and administrative fee will be added to all self-paced enrollments. Course Descriptions Below Register Now!
More information6. Consequences of the NSFR for trade finance
6. Consequences of the NSFR for trade finance Given the small number of banks classified as mostly active in trade finance (one bank in December 2014), the assessment of the impact of the NSFR on trade
More informationTrade Risk Mitigation. Michelle Hui Managing Director Head of Trade and Supply Chain Finance - APAC BNY Mellon
Trade Risk Mitigation Michelle Hui Managing Director Head of Trade and Supply Chain Finance - APAC BNY Mellon BNY Mellon Global Footprint BNY Mellon s global presence comprises a large network of branches,
More informationTrade Credit Insurance Policy Wording Page 1
Trade Credit Insurance Policy 1. SUBJECT OF THE INSURANCE 1.1. In consideration of the subject to the terms, conditions and definitions stipulated hereunder and in the Schedule, the Insurer undertakes
More informationVAT TRAINING PROGRAMMES FOR MANAGING TAX TRANSACTIONS PROFESSIONAL QUALIFICATIONS IN TAXATION
VAT TRAINING PROGRAMMES FOR MANAGING TAX TRANSACTIONS Principles of Value Added Tax (VAT) Advanced Principles of Value Added Tax (VAT) VAT Implementation and Control VAT for Financial Sector VAT For Insurance
More informationBank of America Solutions for Importers
Bank of America Solutions for Importers An Importer s Guide to Global Trade Services Bank of America Merrill Lynch Solutions for Exporters 1 Table of Contents An Importer s Guide to Global Trade Services
More informationSchedule of Charges. Barbados. Business Banking. Effect ive: F ebr u a r y 1, 2018
Barbados Business Banking Effect ive: F ebr u a r y 1, 2018 1 1 DEPOSIT AND TRANSACTION ACCOUNTS - LOCAL CURRENCY 2 DEPOSIT AND TRANSACTION ACCOUNTS - FOREIGN CURRENCY 3 SUNDRY SERVICES 4 LENDING AND CARD
More informationCertificate Programme
Certificate Programme Series In this Certificate Programme Series, 14 individual certificate programmes provides participants with necessary skills and knowledge required in financial services industry.
More informationStandard Conditions of Carrying out Documentary Transactions
Standard Conditions of Carrying out Documentary Transactions 1. Definitions Unless otherwise defined by the Agreement Agreement) and/or Other Agreement Associated Thereto or implied by its/their context,
More informationVAT TRAINING PROGRAMMES FOR MANAGING TAX TRANSACTIONS
VAT TRAINING PROGRAMMES FOR MANAGING TAX TRANSACTIONS Principles of Value Added Tax (VAT) Advanced Principles of Value Added Tax (VAT) VAT Implementation and Control VAT for Financial Sector VAT For Insurance
More informationMODEL STANDBY LETTER OF CREDIT 1. Copyright (C) 2001 Joshua Stein Joshua Stein (212)
MODEL STANDBY LETTER OF CREDIT 1 Copyright (C) 2001 Joshua Stein Joshua Stein (212) 906-1342 joshua.stein@lw.com 1 Description. This document is a standby letter of credit (an "L/C"), suitable for: (a)
More informationFAQs on documentary credits. Stay one move ahead to boost your trade business
FAQs on documentary credits Stay one move ahead to boost your trade business 'Global Trade Review' Best Trade Finance Bank in the Middle East and North Africa (2007-2008) Best Trade Services Bank in the
More informationCOMPLIANCE ACTIVITY REPORT
2 1 006 6 COMPLIANCE ACTIVITY REPORT CONTENTS STATEMENT BY THE CHAIRMAN OF THE BOARD OF THE INTERNATIONAL INVESTMENT BANK STATEMENT BY THE CHAIRMAN OF THE BOARD 1 INTRODUCTION 2 CORE ACTIVITY 3 Since the
More information