Course Detail(BF120 : An Understanding of INCOTERMS 2020)

IBF FTS Funding

BF120 : An Understanding of INCOTERMS 2020

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

A good understanding of INCOTERMS 2020 that is applicable in international trade transactions. This is to avoid the possibilities of misunderstanding between Importers and Exporters, and also to avoid costly disputes when sales agreements are not properly drafted.

Programme Outline

  • What INCOTERMS are and are not

  • Purpose and scope of INCOTERMS

  • Do we speak the same language?

  • Why and when INCOTERMS are used?

  • What have been amended from INCOTERMS 2010?

  • Learn the terminology of the eleven (11) INCOTERMS

  • What are the important roles of INCOTERMS in international contracts of sale?

  • Importer’s options as to the place of shipment and/or destination.

  • What are the Exporter’s delivery obligations?

  • What are the Dos and Don’ts of INCOTERMS?

  • Variants of INCOTERMS Questions and Answers

  • INOCTERMS Quizzes

  • Summary/Conclusion.

Training Methodology

Handouts,
Presentation
Questions and Answers

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Accountants and Auditors who need to understand the costs and risks involved in the import and/or export businesses. Relationship managers and staff in operations in Trade department in the banking industry who need to have an understanding of the International Trade Terms. Importers, Exporters, Sales and Purchasing managers who need to know the responsibilities, costs, and risk of the business, to enable them to negotiate a favourable term for the company.

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

15 Jun 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

1] IBF Financial Training Scheme (FTS) – FTS Funding

Funding Period: Until 21 June 2022

This course is recognised under the Financial Training Scheme (FTS) and is eligible for FTS funding subject to all eligibility criteria being met.

In light of the economic challenges arising from COVID-19, IBF and MAS has enhanced course fee subsidies for locals attending accredited or recognised courses up to 90% under this scheme. There is a grant cap of $2000 per participant per programme.

Please refer to www.ibf.org.sg for more information.

Funding Quantum

For training programmes commencing between 1 January 2022 and 30 June 2022 (both dates inclusive):

  • 80% funding support of direct training cost for Singapore Citizens below 40 years old and all Permanent Residents
  • 90% funding support for all Singapore Citizens aged 40 years old and above

Eligibility Criteria

  • Company-sponsored individuals ​from:
    • Singapore-based financial Institutions regulated by MAS (licensed or exempt from licensing by MAS)
    • FinTech firms certified by Singapore FinTech Association
  • Singapore Citizens or Singapore Permanent Residents, physically based in Singapore
  • Successful completion of the course
  • Payment has to be made via corporate means (e.g. corporate cheque, corporate GIRO, corporate credit card).

If you have met the above criteria for IBF FTS Funding and wish to enrol participants, please contact cpe@isca.org.sg to register (corporate enrolment only).

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

A good understanding of INCOTERMS 2020 that is applicable in international trade transactions. This is to avoid the possibilities of misunderstanding between Importers and Exporters, and also to avoid costly disputes when sales agreements are not properly drafted.

Programme Outline

  • What INCOTERMS are and are not

  • Purpose and scope of INCOTERMS

  • Do we speak the same language?

  • Why and when INCOTERMS are used?

  • What have been amended from INCOTERMS 2010?

  • Learn the terminology of the eleven (11) INCOTERMS

  • What are the important roles of INCOTERMS in international contracts of sale?

  • Importer’s options as to the place of shipment and/or destination.

  • What are the Exporter’s delivery obligations?

  • What are the Dos and Don’ts of INCOTERMS?

  • Variants of INCOTERMS Questions and Answers

  • INOCTERMS Quizzes

  • Summary/Conclusion.

Training Methodology

Handouts,
Presentation
Questions and Answers

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Accountants and Auditors who need to understand the costs and risks involved in the import and/or export businesses. Relationship managers and staff in operations in Trade department in the banking industry who need to have an understanding of the International Trade Terms. Importers, Exporters, Sales and Purchasing managers who need to know the responsibilities, costs, and risk of the business, to enable them to negotiate a favourable term for the company.

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

15 Jun 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