- Logistics & Supply Chain Management
- Import/Export Practices and Effective Uses of Letter of Credit
2018 Intake: 26-27 Feb I 16-17 Apr I 18-19 Jun I 14-15 Aug I 16-17 Oct I 26-27 Nov I 10-11 Dec
1. The Law and Practices of International Trade (Incoterms 2010)
- INCOTERMS 2010
- Meaning of EXW, FCA, FOB, CFR, and CIF
- How to use the terms to your advantage
- Responsibilities of buyer and seller
- Meaning of title and transfer of risk
- How to do quotation and prevent losses
2. The Fundamental of International Trade Financing
- Finance for exporter & importer
- Factors for financing
- Export Credit Insurance
- International Export factoring
- Trust Receipt and Discounting Bill
- Types of payments
3. The Elements of Letter of Credit
- Operation of Letter of Credit
- Rules concerning the application of L/C
- How to do effective L/C negotiation
- Methods of overcoming discrepancies
- Effective methods of checking L/C
- How to do financing in Back-to-back L/C
- Understanding UCP 600
4. Understanding International Fraud and Prevention
- Understanding of LC fraud
- Characteristics of LC fraud
- Methods of LC fraud
- Malpractices and weakness in shipping practices
- How to prevent fraud
This seminar is designed to give participants an overview and an in-depth understanding and knowledge of the operations of the Letter of Credit and international trade financing. This seminar aims to provide both practical and theoretical aspects of the latest and the most effective ways of handling Letter of Credit, its applications, and its fraud prevention.DURATION
2 days ( 9.00am ~ 5.00pm)
SMF Members: $535.00*
*prices are inclusive of 7% GST
Telephone: 6826 3100
Fax: 6826 3113
Terms & Conditions
1. All notice of withdrawal must be given in writing before the issuance of letter of confirmation. Once confirmation letter is sent to participant, no cancellation will be allowed or penalty charges will apply.
If notice of withdrawal is received:
- At least 1 week before commencement of the course, a 20% of the full course fee will be charged. For government-funded course, a 20% of full course fee before funding will be charged.
- Less than 1 week before commencement of the course, a 30% of the full course fee will be charged. For government-funded course, a 30% of full course fee before funding will be charged.
- No show on the scheduled date, a full course fee will be levied. For government-funded course, a full course fee before funding will be charged.
2. For all government-funded programmes (WSQ & Non-WSQ), funding is only applicable to:
- Singapore Citizens or Singapore Permanent Residents
- Participants who have achieved at least 75% attendance and sat for all required assessments
Full course fee will be charged to participants who fail to meet the above-mentioned criteria.
3. When a course is cancelled, fail to commence or fail to complete under unforeseen circumstances, participant is allowed to defer the intake at no cost or withdraw from the course; under such situation, a full refund of the advance payment will be given.
4. Notice of change in participant’s name must be given in writing, not less than 5 days before the course commencement date.
5. SMF CCL reserves the right, at our sole discretion, to change, modify or otherwise alter these terms and conditions at any time. Such modifications shall become effective immediately upon the posting thereof.