Financing international trade is a risky business. The terms and conditions of Letters of Credits (LCs) have to be fully complied, otherwise it might lead to rejection and non-payment. This workshop is designed to help participants understand the risks and traps in LC terms and conditions and not accept them blindly without knowing their implications.
Common pitfalls in LC operations
Misconception of the role of sales/marketing team
Instalment shipment vs partial shipment
Consignee trap on airway bill
10% retention sum
Buyer receives all the documents under the LC, but goods may differ
Claused bills of lading
Absence of documents called for in the LC
Insurance cover effective date
Combined transport document pitfalls
Bills of lading confusion pitfalls
Specific ports of lading and discharge
Transport document signing capacity pitfalls
House airway bill pitfalls
Special conditions in LCs
Groundnuts vs peanuts
Soft clauses in LCs
Incompatible terms in LCs
Issuing bank wishes to protect itself
Terms and conditions dominated by a powerful seller
Inspection certificate trap
LC charges pitfalls
Expiry date and place of presentation trap
If you are in management, international sales, purchasing, accounts/finance, shipping, distribution, inventory control, credit control, risk management or in some other way involved in your organisation’s exporting and importing functions., you will really learn and benefit from the seminar.
Victor Tan, MBA (Strathclyde), ACIB, MInstAM, is a qualified Life Associate Member of The Chartered Institute of Bankers, London and has 15 years of banking experience covering the operational areas of International Trade Finance, Letters of Credit, Remittances, Guarantees, Import and Export departments. He has worked with various International Banks since 1977 starting with Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and lastly Barclays Bank.
*Programme is accurate at the time of print
Day/Date: 15 April 2019, Mon
Time: 9:00am - 5:00pm
Fee per pax (incl. GST): S$420.00 (Member ) | S$520.00 (Non-Member)
Venue : 160 Robinson Road, SBF Center, #06-01, Singapore 068914
For more information, please contact:
Email: firstname.lastname@example.org (ATTN: Ms. Josephine Ong)
Call: 6701 1135
Please email to email@example.com to reserve a seat, this will be followed by a confirmation email.
Upon confirmation, please prepare a cheque to SBF (refer to address on above letterhead).
Cheque should be made payable to “Singapore Business Federation”. Please indicate the Ref No. and company’s name, participant’s name at the back of the cheque.
Registration is on a first-come-first-served basis. No cancellation will be allowed upon registration, but attendance by a replacement delegate from your company is allowed. We regret that no refund and full fees will be charged for cancellation or non-attendance.
Confirmation of your registration will be emailed to your company upon receipt of full payment.
NOTE: As a precautionary measure, our advice is for members who are unwell not to attend the session.
All information, materials and related graphics contained herein and/or provided in the course of the training session(s) (hereinafter referred to as “Information and Materials”) are intended for informational and/or educational purposes only. The Singapore Business Federation does not claim ownership of any of the Information and Materials provided by the external training vendor(s). The information and Materials may from time to time include technical inaccuracies or typographical errors, and changes may be added periodically as may be necessary. Please note that photography, audio and video recording may occur during these event. All photography, audio and video recording may be used by Singapore Business Federation for education, marketing, promotional and/or publication purposes. If you do not wish to have your image recorded or published, for compelling and legitimate grounds relating to your particular situation, please inform our staff.