The format of this course is a Live Webinar. A detailed set of instructions on the Live Webinar will be sent to you closer to date.


Programme Objective

This one-day seminar covers the basic requirements in an Import/Export trade transaction. It also provides participants a guide to Import/Export operations, for example, the need for Exporters to take pre-emptive measures like the purchase of insurance or extending shipment dates in anticipation of possible event/s (flood or civil unrest) that may lead to discrepancies in documentation.

Participants will be able to understand:

- Types of international trades

- Types of documentations arising from international trades

- Implications arising from international trades

This course also provides guidance in an Import/Export trade transaction and operations with practical examples and pre-emptive measures to mitigate potential risk.

Programme Outline

Overview of the Trade Cycle-

• What is Trade and how are trades transacted?
• What is Countertrade (Barter) trade?
• What is Domestic/Local trade?
• Factors affecting International Trade – Political (Macro Risk), Legal (Customs), Economic (Currencies Risk), Social & Cultural
• Essential features of a simple Sales and Purchase (S&P) Agreement
• What is an Offer and Acceptance?
• Different Methods of Payment/Settlement -Payment Mechanism
  • Cash in Advance/Payment in Advance
  • Open Account
  • Consignment
  • Documentary Collection
  • Documentary Credits (LC)
  • * Factors affecting the choice of payment *
• What is Documentary Collection (URC 522)?
  • Documents against Payment (D/P)
  • Documents against Acceptance (D/A)
• What is Documentary Credit (UCP 600)?
  • How does L/C works?
  • Issuance/operations of L/C.
  • Types of Letter of Credit
  • Checking procedure, common discrepancies.
  • Duties of Applicant, Beneficiary, and the Banks

Letter of Credit – Checklist and Guide for Importers/Exporters

• What are Incoterms (2010)?
  • Explain the role and importance of Incoterms
  • List the current Incoterms
• Standard Shipping Documents
  • Invoice (Proforma, Commercial, Consular)
  • Packing List/Weight List
  • Certificate of Origin
  • Transport documents
  • Others
• Questions and Answers and Case Studies

Pre-requisites

Please take note of the following admission requirements:

• Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
• Mandatory for video camera to be turned on throughout the course
• Display your official name (as per NRIC) in Zoom, to facilitate attendance taking
   

Training Methodology

Lectures, Questions & Answers and Case Studies.    
 

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

A foundation to intermediate level seminar intended for Managers, Executives and Professionals who are involved in import and export transactions/operations. Those who are interested to acquire valuable insights into this subject matter are encouraged to attend as well.

Programme Facilitator(s)