Import/Export Practices and Effective Uses of Letter of Credit




What is this course about?


This seminar is designed to give participants an overview and an in-depth understanding and knowledge of the operations of the Letter of Credit and International Trade financing. This seminar aims to provide both the practical and theoretical aspects of the latest and the most effective ways of handling Letter of Credit, its applications, and fraud prevention.


Suitable for


Shipping personnel, freight forwarder, banker, trader, importer/exporter, businessman, and those keen in upgrading their knowledge in international trade.


Assumed Skills and Knowledge


There are no minimum requirements for this course.


Funding Incentives


Support level - Broad-based Skills Training. Funding is only available for company-sponsored participants.


As the course fee type on SkillsConnect is Full Fee, all participants whose SDF Training Grant are applied and approved are to claim the grant from WDA, 120 days from course end date. Participant has to be company-sponsored and only company cheque payment is accepted for SDF Training Grant application to be successful with WDA.


Companies sponsoring eligible employees are required to register as a SkillsConnect User.


Please click here to find out more about SkillsConnect.



NTUC union members enjoy 50% (unfunded) course fee support for up to $250 each year when you enrol for courses supported under UTAP (Union Training Assistance Programme). Conditions apply.

For more information, please call NTUC Membership hotline at 6213 8008 or email [email protected] Website:



SkillsFuture Credit (SFC)

With effect from January 2016, Singaporeans aged 25 years and above who received their SkillsFuture

Credit account activation letter will be eligible for an initial credit of $500 which can be used to pay for

course fees for a range of eligible skills-related courses. The credits can be used on top of existing

course fee subsidies/funding.

This is only applicable for self-sponsored applicants. Application via SkillsFuture Portal can only be made starting from 30 days before the course commencement date.


Course Outline

1. Incoterms: Its Rules and Applications
* Incoterms 2000
* Meaning of EXW, FCA, FOB, CFR, and CIF
* How to use the terms to your advantage
* Responsibilities of buyer and seller
* Meaning of title and transfer of risk
* Its customs of trade

2. The Fundamental of International Trade Financing
* Finance for exporter & importer
* Factors for financing
* Types of payments
* Export Credit Insurance
* International Export factoring
* Trust Receipt and Discounting Bill

3. The Elements of Letter of Credit
* Operation of Letter of Credit
* Rules cpncerning the application of L/C
* Methods of overcoming discrepancies
* Effective methods of checking L/C
* Understanding UCP 600
* How to do financing in Back-to-back LC

4. Understanding International Fraud and Prevention
* Understanding of LC fraud
* Characteristics of LC fraud
* Methods of LC fraud
* Malpractices and weakness in shipping practices
* How to prevent fraud


Mode of Assessment

There is no assessment for this course.





A Certificate of Attendance will be awarded to participants whose attendance is not less than 75%.

Application Procedures

1. All applications must be made via Online Registration at

Course fees can be paid by the following payment modes:
Credit Cards, Internet Banking, NETS (Not Applicable for company sponsored)
a) For e-payment using Visa/Master cards and Internet Banking, please click on the ‘Make e-Payment’ button on the acknowledgement page to proceed.

b) For NETS payment, you can pay at:

Singapore Polytechnic
PACE Academy
Blk T1A, Level 1
Mon-Fri: 8:30am to 7:30pm

c) Please make cheques payable to “Singapore Polytechnic”. Please cross the cheque and write the Registration Reference ID, Applicant Name and NRIC/FIN number on the back of the cheque. Mail the cheque to:

ATTN: Manager
Singapore Polytechnic
PACE Academy
500 Dover Road
Blk T1A, Level 1
Singapore 139651

Please note that an administrative charge of $15 will be imposed for any returned cheques from the bank or financial institution.

Cash (Not Applicable for company sponsored)
d) For cash payment, you can pay at:

Singapore Polytechnic
Finance Department
Admin Building, Level 2
Mon-Fri: 8:30am to 5:00pm

2. All successful applicants will be notified with a letter of confirmation via email.

3. Withdrawal and Deferment

Withdrawal and deferment notice must be made in writing to the Professional & Adult Continuing Education (PACE) Academy via email to [email protected] For withdrawal cases, the portion of course fee to be refunded is based on the date of notice as follows:

  • 2 weeks before the commencement of the course - Full refund
  • Less than 2 weeks before commencement of the course - 70% refund
  • On or after date of commencement - No refund

The Singapore Polytechnic reserves the right to cancel or postpone any of the courses. Applicants will be duly notified and where applicable, the full fees will be refunded.

The Singapore Polytechnic also reserves the right to amend the fees charged or the period and duration of the courses.

The data provided to Singapore Polytechnic will be kept strictly confidential and will be used for the purpose of course administration. The data may be passed on to the relevant organisations that require the information related to the course.




Registration Date:

Registration will close 1 weeks before the commencement date


Please note that once the maximum class size is reached, the online registration will be closed.


Application Procedure


Course Date:



22 May - 23 May 2017


17 July - 18 July 2017



Venue: Singapore Polytechnic


Duration: 14 hours


Time: 9am to 5pm



For Public:

$406.60 (with GST)

As part of:

For Seniors (Singaporean who aged 50 and above):

$216.60 (after GST)





Terms and Conditions