OPEN PROGRAMMES

UNISOURCE

Knowledge Management, BANGALORE

PRESENTS

WORK-SHOP ON

LETTERS OF CREDIT MECHANISM FOCUSSING ON

UCP 600 and ISBP & INCOTERMS 2010

For

IMPORTERS AND EXPORTERS

ON 9^th JULY, 2011 AT BANGALORE

 Do You Know?

 That the Letters of Credit account for about 85% of the World's trade?  India is no exception and Letters of Credit account for a sizable sum when it concerns International Trade.  But unfortunately, only about 25% of the Documents submitted under Letters of Credit (L/Cs) actually gets negotiated and paid!  Reason?  Discrepancies, which can be easily rectified.  Not just that; to day, in export L/Cs, it is common to find a clause "USD 25 WILL BE DEDUCTED FOR EVERY DISCREPANCY NOTED"!  Just convert this sum in to Rupees and if there are even four to five discrepancies per document, it amounts to a cool Rs.5, 625/-

Remember that the amount mentioned   above is on a conservative estimate, at time banks charge even more! 

Definitely, when the margins are dwindling, no company can ignore this.  Added to this, the opportunity cost on account of delay in realizing the money is enormous.  There are instances, when the exporter has to reduce the invoice value to the extent of 33% of the original value on account of discrepancies, as the foreign buyer would use the discrepancies as leverage for extracting discounts!

 What Is New? 

·         Are you aware that all the 39 Articles of UCP 600 automatically apply to the L/C and now it a rule to be compulsorily followed?

·         Does your banker penalize you for flimsily discrepancies? 

·         Do you know now you can get protection from ISBP – International Standard Banking Practices? 

·         Do you know that documents are examined not just in relation to L/C but also, UCP 600 and ISBP?

·         Are you aware of the changes in INCOTERMS 2010?

·         Do you know the implication on your profit because of the changes in responsibilities of the exporters / importers under THE NEW INCTOMERS 2010?

This workshop will enhance your skills in tackling tricky issues and make sure that your banker does not hold your documents cause needless delays!  We will equip you to fight for your rights!!

 What The Workshop Intends To Do? 

In this Letter Of Credit Mechanism - With Focus on UCP 600, the participants will be exposed to different kinds of problems faced in real life situation while dealing with L/cs and most importantly, HOW TO OVERCOME THEM! 

For Whom?

This workshop is for those who oversee IMPORTS AND EXPORTS business, for those WHO ARE DEALING with documentation or even those who are involved in dealing with overseas customers with reference to pricing and procuring of raw material etc., through L/C mechanism.  It is not only for those who are dealing with IMPORTS and EXPORTS business, but also for those who intends to start one. 

Topics Covered 

·         Session I:  Need for International Trade, Methods of settlement of International Trade, Bills for Collection, On account Sale, Advance Payments, INCOTERMS 2010 - How different it is from INCOTERMS 1990?  Risk coverage available under INCOTERMS 2010 for collection bills, precautions to be exercised in case of collection bills, Exchange Control Regulations governing these transactions. 

·         Session II: Introduction to Letters of Credit - why use L/Cs?  Parities to L/Cs, Different Types of L/Cs, Documents under L/Cs, Model L/Cs application.  What should you do when you receive a L/C - a checklist of items to avoid inconvenience later? 

·         Session III: Discrepancies - different types, reasons for discrepancies, consequences of rejected documents.  How to deal with discrepancies?  Is your Banker always right?  Avoidance of fraud and introduction to UCPDC 500, and ISBP 

·        Session IV: CASE STUDIES - based on cases referred to International Chamber of Commerce, Paris - solutions thereof.  How to avoid it happening in your company?  Redress avenue; what is DOCDEX?  Should your company use this facility?  

·        What Will You Learn? 

·         This workshop will throw light on the new changes and helps effectively, cope with these changes.

·         Avoid discrepancies in documentation

·         Save money / time and effort and get better export realization

·         Avoid excess charges on L/Cs due to discrepancies

Who Will Provide Answers To These Questions? 

·         Would a beneficiary be entitled to recover the purchase price under a sale contract although the documents presented under an L/C are rejected due to discrepancies?

·         What are the distinctions between “Honour” and “Negotiation”?

·         Are acceptances and deferred payment L/Cs negotiable under UCP 600?

·         What is the reasonable time for documents examination and new requirements of a rejection notice under UCP 600?

·         New rules on transport and insurance documents.  Who bears the risk of loss of documents in transit?  How to manage trade fraud and documentary risks effectively?

·         You can find answers to these and many more questions in the workshop 

Investment 

Investment including 10.3% service tax for this one-day experiential learning workshop is as below: 

 You can register either by calling us on 080-23147875 or 9449836316 or 9880288467 or on our website:

www.unisourceknowledgemanagment.com

 Please send us your cheque / DD drawn in favour of UNISOURCE Knowledge Management (payable in Bangalore) and send it to our address mentioned below

 The investment covers the following:

• Full day training cost
• Lunch and refreshments
• Study Material

ADDITIONAL BENEFITS ONLY FOR THOSE WHO REGISTER

ON OR BEFORE

16^th JUNE, 2011 ONLY

• CD consisting UCP 600 and ISBP
• Checklist based on UCP 600 for creating error free documents
• INCOTERMS 2010 – Full version book

 About Unisource Knowledge Management 

The word UNISOURCE indicates a single source for all the information.  Knowledge Management is the "Mantra" in today's competitive world.  Equipping Companies and Corporations in the area of International Trade, Foreign exchange and Risk Management by providing training and consultancy is the aim of the company.  The company has successfully conducted in-house programmes for many a reputed companies in the past.  Please visit our website for details of our other offerings, list of clientele etc.

UNISOURCE

Knowledge Management

#13, 4^th B Main, (II Floor) Kalyan Nagar

Nagarbhavi Main Road, Bangalore – 560 072

Telephone No 23147875, 94498 36316; 9880288467

 www.unisourceknowledgemanagement.com

 Mr. Vadiraj – A Brief Profile

Vadiraj M.S.
Vadiraj has over 28 years of experience working in the banking and financial services businesses, of which over 12 years in the area of Training. His areas of specializations are Human Resource Development, Leadership Development, Presentation Skills, and
Communication Skills etc. He also specializes, because of his vast experience in the area of Banking and Finance, in trade finance, retail / branch banking, corporate banking and back office trade processing and operations support.
Vadiraj spent over 6 years as the Assistant General Manager of HCL Technology Ltd one of the largest and most highly regarded information technology and engineering companies, and he was based in Bangalore, India. At HCL, Vadiraj was responsible for
designing, developing and delivering training programs related to corporate and investment banking back office processing. He handled training function for a period of 5 years, till December 2008. Prior to HCL, for over 23 years he worked for two prominent Indian banks: Punjab National Bank and ING Vysya Bank on a foreign exchange sales and trading desk. He was also head of large branch banking and Associate Vice President taking care of training at ING Vysya Bank. He spent over 6 years in ING Vysya Bank’s Staff Training
College wherein, he designed, developed and delivered courses for over 6000 employees.
During his career, Vadiraj has designed, developed and delivered professional development to over 7500 individuals throughout the world including designing and delivering training on site in United States of America and France in 2007 /08 He has also created or enhanced over 150 workshop and self-study programs during his career. In 2001, Vadiraj wrote and published a book entitled "When Death Do Us Part" focused on ‘estate planning’ in India.
Vadiraja’s area of specialization for conducting training programmes include, designing and customizing training programme for "Life Skills areas" such as Communication and Presentation Skills, Leadership Development, Effective Meeting Techniques, Team Building,Vadiraja has a Post-Graduate Degree in Finance from Bangalore University, India and a Journalism degree from London School of Journalism, United Kingdom.

Visiting faculty
Vadiraja has been a visiting faculty in many colleges and Business Schools. Some of them are, Ramaiah College, Garden City College, Jain group of Colleges, Shivmogga Engg. College, Dayanand College, etc.
He specializes in handling varied subjects such as International Financial Management and Journalism in addition to conducting "How to Teach Smart and Not Hard" for teachers and lectures.
He manages his own company, UNISOURCE KNOWEDGE MANAGEMENT for the last 9 years and is also a consultant for HCL Technologies Ltd, Standard Chartered Bank etc. His company specializes in delivering end-to-end solutions related to Human
Resources such as designing competency mapping, appraisal system and designing and delivering customized training programmes.

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