Course Detail(BF020 : Fundamentals of Import / Export Transactions)

BF020 : Fundamentals of Import / Export Transactions

7.00 CPE Hours (Others)
Classroom

This course is also available as a Live Webinar session. To view the available dates, please click here


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 provide 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

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.

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

25 May 2022 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Richard Yeo Chin Keat

Venue

60 Cecil Street
ISCA House
Singapore 049709

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Richard Yeo Chin Keat
MBA, MIEx (Grad), ACIB


Richard has over 25 years of working experience in the banking industry, covering the areas of International Trade Finance, Funds Transfers (Remittances), Business Administration, Retail Banking and Risk Management. He has worked in various international banks and is actively involved in conducting in-house training and presentations.

Prior to his present position as a key management staff in a listed company, he was a Senior Manager in an MNC. He was also a Deputy General Manager and Compliance Officer in an offshore bank, in charge of Trade Finance, Settlements, Remittances, Deposits, Loans Administration, Correspondent banking as well as Accounting and Regulatory Compliance.

Richard is a registered Associate Trainer with the Institute of Banking and Finance (IBF), and a part-time Associate Lecturer with the Singapore Institute of Management (SIM) and also a part-time Tutor with Business and Management Education Limited, for the Manchester Business School MBA program conducted in Singapore.

Richard is an Associate Member of the Chartered Institute of Bankers, a graduate member of the Institute of Exports (UK) and holds a Master of Business Administration degree, jointly awarded by the University of Manchester and the University of Wales, UK.

This course is also available as a Live Webinar session. To view the available dates, please click here


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 provide 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

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.

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Richard Yeo Chin Keat
MBA, MIEx (Grad), ACIB


Richard has over 25 years of working experience in the banking industry, covering the areas of International Trade Finance, Funds Transfers (Remittances), Business Administration, Retail Banking and Risk Management. He has worked in various international banks and is actively involved in conducting in-house training and presentations.

Prior to his present position as a key management staff in a listed company, he was a Senior Manager in an MNC. He was also a Deputy General Manager and Compliance Officer in an offshore bank, in charge of Trade Finance, Settlements, Remittances, Deposits, Loans Administration, Correspondent banking as well as Accounting and Regulatory Compliance.

Richard is a registered Associate Trainer with the Institute of Banking and Finance (IBF), and a part-time Associate Lecturer with the Singapore Institute of Management (SIM) and also a part-time Tutor with Business and Management Education Limited, for the Manchester Business School MBA program conducted in Singapore.

Richard is an Associate Member of the Chartered Institute of Bankers, a graduate member of the Institute of Exports (UK) and holds a Master of Business Administration degree, jointly awarded by the University of Manchester and the University of Wales, UK.


Upcoming Schedule

Date & Time

25 May 2022 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Richard Yeo Chin Keat

Venue

60 Cecil Street
ISCA House
Singapore 049709