Your course director has spent more than 40 years in the banking and financial sector, much of it in a senior managerial/Director role. He is a former Institute of Banking Lecturer, having gained distinctions in the exams. He is a subject matter aspect on all aspects of retail, corporate and global banking, including risk management and regulatory compliance. He has lectured extensively to both leading global financial institutions and to smaller bespoke specialists. He has delivered extensive programmes in all parts of the world including the USA, Europe, MENA, Africa and Hong Kong. He is currently an accredited Master Trainer at the world’s biggest global bank.
Trade Finance has always been regarded as a little mysterious. It delivers strong revenue, has low credit losses (normally) and employs products with impressive sounding and not always easy to define names. Even more intriguing is the frequent use of different terms which apparently mean the same thing. Letters of Credit fit neatly into this conundrum. They are not actually letters, many don’t actually grant credit, they employ strange sounding terms, they are used to support about 15% of global trade and to cap it all, the mainstream version - “the Standby” - is issued with the expectation that no payment will ever be made to the beneficiary.
Fortunately – a bit like learning to read music for the first time – once the language is explained, the customs and the practice of trade finance are unveiled and the terminology is understood fully, there really isn’t too much to it. It is, in reality, easy to understand and takes just a bit of practice to master.
Interestingly, dire predictions about the “death” of documentary credits still persist. It has been said repeatedly that the Open Account method of trading will eventually become the new normal having already taken a near 80% plus share of total trade transactions. Despite this, the LC refuses to die and against all expectations has become more important in the last few years. There are two reasons. Firstly, LC’s can be used to transfer the growing number of macro-economic and political risks (if “Confirmed”). Secondly several countries struggling with the collapse of energy prices now insist that L/C’s (and other instruments) are used as a method of recording and tracking the international flows of both goods and foreign currency.
This practical two day course will completely remove the “mystery” of the subject, leaving delegates with a clear and working knowledge of how trade finance is undertaken in the real world, what actually happens and what are the implications for all parties concerned. It considers the use, implementation and practical applications of documentary letters of credits (LC’s) in their many forms and guises including Standby L/C’s.
The course will cover fully the significant impact FCC is having on trade finance in general and LC’s in particular.
The course will use numerous case studies and will involve a considerable element of interactive class discussions. The Director will encourage delegates to question and test their knowledge at each stage of the course. At the end, all delegates will have a clear and full understanding of exactly how LC trade takes place currently across the globe at almost every level.
All training courses with Redcliffe Training are carried out within the context of issues raised. The Letters of Credit Course above is a core part of a range of coruses covered UCP 600, ICC 552 and trade finance.
Training Course Name
|Trade Finance Sales||UCP 600, ICC 552, FCC, International trade transactions|
|Trade Finance Masterclass||UCP 600, ISBP 2013, trade documentation|
|Risk in Trade Finance and Trade Finance Products||UCP 600, trade finance products, commodity finance regulations, URDG|
|Advance Trade Financing Course||UCP 600, risk in trade finance, letters of credit|