Import/Export Practices and Effective Uses of Letter of Credit

Course Date:
14 Oct - 15 Oct 2019

Registration Period:

13 Aug - 30 Sep 2019

Duration:
14 hours / 2 days

Time:
9am to 5pm (Monday & Tuesday)

Mode of Training:
Classroom

Venue:
Singapore Polytechnic


Course Objective
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.


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


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


Minimum Entry Requirements / Assumed Skills and Knowledge
There are no minimum requirements for this course.


Award / Certification / Accreditation

• Certificate of Attendance (electronic Certificate will be issued)
A Certificate of Attendance will be awarded to participants who meet at least 75% attendance rate

Course Fees payable:

Singapore Citizens aged below 40 and Singapore PRsSingapore CitizensOthers
Non-SME sponsored1Sponsored by SME2Aged 40 and above3Aged 35 and above, and earn ≤ $2,000 per month
$121.98
(incl. GST)
$45.98
(incl. GST)
$45.98
(incl. GST)
$26.98
(incl. GST)
$406.60
(incl. GST)

Singaporeans aged 25 years and above may use **SkillsFuture Credit balance to offset respective course fees.
1 Under the Enhanced Training Support for Small & Medium Enterprises (SMEs) Scheme. For more information, click here
2 Under the SkillsFuture Mid-career Enhanced Subsidy. For more information, visit the SkillsFuture website here.
3 Under the Workfare Training Support (WTS) scheme. For more information on the scheme, click here.


Funding Incentives

Please click here for more information on funding incentives.


 

Register Here
Eligible for SkillsFuture Credit

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

Application Procedure

1. All applications must be made via Online Registration at www.pace.sp.edu.sg
Course fees can be paid by the following payment modes:

a) Credit Cards, Internet Banking, NETS (Not Applicable for company sponsored)
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

c) Cheques
Please make cheques payable to “Singapore Polytechnic”. Do cross the cheque and write the Registration Reference ID, Applicant Name and NRIC/FIN number at the back of the cheque. When you have completed required details, you may mail the cheque here

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

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