Import/Export Practices and Effective Uses of Letter of Credit

Course Date:
To be confirmed

Registration Period:
To be confirmed

Duration:
14 hours / 2 days

Time:
9:00am to 5:00pm, Monday & Tuesday

Mode of Training:
Facilitated Learning (F2F)

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 2020

* 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 concerning 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

Applicants/EligibilityTotal fees (incl. GST)
Singapore Citizens aged 40 and above1$45.98
Singapore Citizens aged below 40
$121.98
Singapore Permanent Residents$121.98
SME-sponsored Singapore Citizens and Permanent Residents2$45.98
Full Course Fee$406.60
Singaporeans aged 25 years and above may use **SkillsFuture Credit balance to offset respective course fees.

1Under the SkillsFuture Mid-career Enhanced Subsidy. For more information, visit the SkillsFuture website here
2 Under the Enhanced Training Support for Small & Medium Enterprises (SMEs) Scheme. For more information of the scheme, click here. To view SP’s list of similar funded courses, click here. Please submit the attached “Declaration Form for Enhanced Training Support Scheme for SME” together with your online application.

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.
You may register your interest, and would be notified if there is new run.

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) For payment via PayNow, please enter the UEN No. T08GB0056ACET and indicate the invoice/registration number. 

*With effect from 1 August 2021, cheque payment will not be available.

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

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