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Understanding Letters of Credit and UCP600
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Understanding Letters of Credit and UCP600
  • Overview
  • Objectives & Outline
  • Methodology
  • Participant Profile
  • Trainer
  • Overview
    PROGRAMME DETAILS

    DATE

    19 – 20 June 2019

    TIME

    9:00 AM – 5:00 PM

    VENUE

    Asian Banking School
    16
    AICB
    CPD HOURS
    With today's financial landscape becoming increasingly borderless, the need to know a globally standardised set of regulations for trade is even more crucial. Banks and lenders are subject to the Uniform Customs and Practice for Documentary Credit (UCP), which aims to standardise international trade, reduce risks of trading goods and services, and govern trade.

    The UCP 600 is the official publication issued by the International Chamber of Commerce and it comprises a set of 39 articles on issuing and using Letters of Credit, which applies to 175 countries around the world. It is the most successful set of rules ever developed in relation to trade and most Letters of Credit are subject to these rules.

    Bankers who want to have a competitive edge in international trade finance and remain relevant in this fast-changing industry, must be well versed with Letters of Credit and the UCP 600 rules. This programme will provide participants with a thorough understanding of Documentary Letters of Credit and the governing international rules.
    LEARNING LEVEL
    Intermediate
    PROGRAMME FEE

    AICB MEMBER

    MYR

    2,200*

    / PAX

    NON-MEMBER

    MYR

    2,700*

    / PAX

    *Subject to 6% Service Tax

  • Objectives & Outline
    LEARNING OBJECTIVES
    By the end of the programme, participants will be able to:
    • Recognise the forms and types of Letter of Credit
    • Distinguish the difference between Documentary Collection and Documentary Letter of Credit
    • Acquire comprehensive knowledge in Letter of Credit operations
    • Identify relevant ICC rules (UCP600, URC522, URCG 325, URDG 758 & ISBP745)
    • Familiarize themselves with the terms and conditions of documentary credit and know the roles and responsibilities of the parties involved
    • Understand the UCP 600 legislation and the opportunities it brings to your letter of credit performance
    • Recognise the standards that banks use in examining documents presented under documentary credits to determine compliance
    • Identify various risks and mitigants
    PROGRAMME OUTLINE
    Introduction to Documentary Credit
    • Definition, types and features of Letter of Credit
    • Letter of Credit and UCP 600 rules
    • Documentation requirements
    • Process flow from application to issuance of the Letter of Credit
    • Roles and responsibilities of parties involved
    • Common problems and discrepancies
    • Risks in Letter of Credit transactions and compliance
    • Letters of Credit exercises
      • Current examples and issues
      • Checking the letter of credit upon receipt
      • Identifying and reducing discrepancies
      • Calculating the costs and how to manage them
    • Uniform Customs and Practice for Documentary Credits – UCP 600
    • Document Checking Exercise
  • Methodology

    Sharing of practical experiences and best market practices with interactive discussions and case studies

  • Participant Profile
    Trade Finance Operations officers, Credit Managers, Compliance and Relationship Managers
  • Trainer

    K. Balasingam

    Director of Commercial Banking Training, Asian Banking School

    K. Balasingam has 35 years of banking experience having worked in Wholesale Banking and Risk Management holding senior positions in financial institutions that includes both international as well as local banks. He has a deep understanding of relationship management, bank credit and risk management, besides having a passion for training and development.

    Bala was at Standard Chartered Bank in Malaysia, Philippines and Indonesia in various client relationship management roles in Corporate and Commercial Banking, Global Clients, Sales and Credit Services, Transaction Banking and Institutional Banking, before moving on to risk management roles as Senior Credit Officer and Country Chief Risk Officer at Standard Chartered Bank in Philippines and Indonesia. He was also the Risk Management Director of Danajamin Nasional Malaysia Berhad. There, he played a significant role in strategic planning and implementation in the younger markets which included Khan Bank, Mongolia as their Wholesale Banking Advisor and Techcombank, Vietnam as their Executive Vice President and Head of Wholesale Banking.
    Bala obtained his post graduate qualifications in banking and finance and is a Fellow of the Chartered Institute of Bankers as well as a Certified Omega Trainer. He holds a MBA in Finance (with Distinction) from the University of Hull, England, is a Certified Credit Professional awarded by the Institute of Bankers Malaysia (now known as Asian Institute of Chartered Bankers) and carries the designation of Certified Financial Planner awarded by the Certified Financial Planner Board of Standards, Inc. USA.

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