Letter of Credit - Online Session

September 24, 20210Letter of Credit

  • Overview
  • Course Outline
  • Workshop Instructions
  • Testimonials

Overview

Workshop Overview:

In international trade counter-party risk and country, risk cannot be avoided. For more than a century, instruments like letters of credit and bank guarantees are used by 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 standardized 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 Director:

Aly Rehan Khan
  • 20+ years of experience in Banking, Construction, Telecom, and Oil & Gas Sector
  • Experiential learning-based trainer.
  • Design thinking trainer & consultant

About SIMFOTIX:

SIMFOTIX is a trusted name in the executive education industry that offers cutting-edge corporate training programs. SIMFOTIX focuses on creating value for both learners and businesses through its varied program offerings. We, at Simfotix, hold unique expertise in developing our programs based on the design-learning concept that focuses on the key challenges of a learner and organization. Engagement, relevance, and effectiveness are the hallmarks of our learning solutions. So far, SIMFOTIX training programs are attended by over 5000 participants from over 1000 organizations operating MENAT region. Our clients regard their training experience with us as inspiring and transformative.

On the e-learning front as well, SIMFOTIX offers courses that result in serious learning but in a fun way, we adopt an efficient gamification approach that is aligned with clear learning goals that L&D teams want to see as the achieved objectives. We also understand the ever-shifting corporate world challenges and even in online programs, we carry our legacy of quality, relevance, and the impact that’s why our programs are conducted by learned faculty comprised of global thought-leaders and top industry practitioners.

We also provide bespoke training solutions that are tailored and delivered in a way that it surpasses your expectations.

  • Soft Skills
  • Finance & Banking
  • Information Technology
  • Gamification

Course Outline

Understanding Letter of Credit (L/C)
  • 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 L/Cs
  • Sight LC
  • Deferred Payment / Usance Lcs
  • Risk & Responsibilities 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 Multi-model Transportation
  • Maritime INCOTERMS FAS, FOB, CFR, CIF
  • Any mode INCOTERMS EXW, FCA, CPT, CIP, DAP, DAT. DDP
  • Risk Associated with Various 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
Course 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.

 

Workshop Instructions

  • 24 October, 2021 10:00 am - 03:00 pm (UAE)
  • Regular Fee: USD 490 Per Participant (Exclusive of VAT)
  • Team Offer: Pay for 2 and register 3rd for free
  • Includes: Courseware, and SIMFOTIX Certificate
  • For registration (s) send us your Name, Designation, Organization, and Mobile Number to register@simfotix.com
  • For More Information please contact: Qazi Waqas Ahmed Mobile: +971 56 309 0819; Email: waqas@simfotix.com

Testimonials

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