UNDERSTANDING RULE OF TRADE, LETTER OF CREDIT, DOCUMENTARY COLLECTION AND BANK GUARANTEE AND HOW TO MITIGATE THE RISK
Details
COURSE OBJECTIVES
- To provide learning and knowledge experience to participants on the various type of payment method for import and export trade
- Develop full awareness to participant on the various type of Letter of Credit and the risk associated with each type
- Develop full awareness to participant on Documentary Collection and risk associated with the payment method
- Develop full awareness to participant on payment using Bank Guarantee and risk associated with the payment method
- Compare the various payment method listed in the training program
Outline
COURSE CONTENT
Module 1 – Challenges of International Trade
- Buyer and Seller Obligation, Risk and Cost
- Title holder and Risk Transfer
- Incoterms Rules
- Type of Payment method available
- Type of Trade Financing – Forfaiting, Factoring, Letter of Credit, Documentary Collection and Bank Guarantee
- Quiz
Module 2 – Letter of Credit (LC)
- What is Letter of Credit
- Rule Governing Letter of Credit
- Parties in Letter of Credit
- Revocable Letter of Credit
- Irrevocable Letter of Credit
- Type of Letter of Credit
- Red Clause Letter of Credit
- Claim, payment verification, discrepancies management
- Why letter of credit is popular
- Managing Risk with Letter of Credit
- Quiz
Module 3 – Documentary Collection
- Type of Documentary Collection
- Rule Governing Documentary Collection
- Managing Risk with Documentary Collection
- Documentary collection versus Letter of Credit
- Quiz
Module 4 – Bank Guarantee (BG)
- What is a Bank Guarantee
- Rule Governing Bank Guarantee
- Bank Guarantee Procedure and Purpose
- Type of Bank Guarantee
- Bank Guarantee versus Letter of Credit
- Managing Risk associated with Bank Guarantee
- Quiz
Module 5 – Risk Mitigation
- Type of Risk
- Mitigation on Cyber Security
- Fraud in International Payment system
- Quiz
Special Offer
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Schedules
| Wed, Thu | 09:00 AM — 05:00 PM |
Platform: Zoom
| No. of Days: | 2 |
| Total Hours: | 14 |
OTC Training Centre Sdn Bhd is an innovation leader in the development and delivery of practical outsourcing training programs for the past 17 years. Since then, OTC has supported thousands of companies to upskills their employees with personalized content and learning solutions. Today, we have evolved to provide a full suite of outsourcing services in the learning and development field.
Our training programs are entitled to HRDCorp claim, with our trainers being certified by HRDCorp as well. As a training provider, we aspire to keep providing the best training to our respected clients to ensure their satisfaction while using our service as the training provider.
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