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Strict Compliance to Letters of Credit & UCP 600

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Dear friend,

With the recent introduction of UCP 600, the importers, exporters and the banks had to revise their operations on the documentary credits.

It was found that more than 50% of the documents presented by the importers and exporters to the banks for payment under the letters of credit are rejected on their first presentation.

It has now become necessary for these importers and exporters to efficiently streamline their operation on the documentary credits so as to save time, costs and unwanted litigations.

Otherwise, the negotiating bank's ability to pay against documents submitted under a letter of credit depends entirely on the strict compliance of these documents with the terms and conditions of the credit and the provisions of the Uniform Customs and Practice for Documentary Credits.

Just after the implementation of UCP 600 in 2007, there were already numerous issues and fallacies of its rules that had caused a lot of misapprehensions. Questions often ask. Is this a discrepancy or not? Will the bank accept this term or not? More and more!

What is this workshop all about?

This workshop is designed to show you how to correctly fill the bank's standard application for opening letter of credits and collecting of documents for the first time and at all times so that there would be lesser discrepancies to frustrate your selling or buying the goods and services abroad.

Why this workshop?

You will learn the 6 essentials skills to enrich you in handling LCs issues with the current UCP 600 standard

You will learn how to:

• Fill the bank's application forms for letter of credit correctly
• Give relevant and exact instructions on collection of documents
• Avoid discrepancy, if any, as early as possible so as to get paid or receipt the goods
• Understand INCOTERMS and Marine Cargo Insurances to mitigate losses, if any
• Interpret the terms of the new UCP 600 that came in force in July 2007
• Avoid discrepancies arising from the interpretation of UCP 600

Besides that, you will be provided with:

• Notes, Case Precedents and Case Studies
• Many Case Laws that show the importance on the understanding of the ICC UCP and ICC URC
• Sampled forms of an international bank on the Application for Letter of Credit and Documentary Collection/Negotiation
• The views of the many experts in the interpretation of the new rules under UCP 600
• A print-out of the new UCP 600

Course Leader

aGEE Lee has more than 22 years of experience in the commercial banking in Malaysia and has worked in Malayan Banking Berhad and seconded to Kwong Yik Bank Berhad in 1980 to set up a Legal Documentation Department.

He started as a trainee officer moving up to Branch Manager, Loan Manager managing Corporate and Commercial Loans and finally as Head of Loan Recovery Division bringing down NPLs to RM65m from RM800m.

He also worked in a property development company, then constructing a condominium and Nilai 3, for 2 years, and involved in a manufacturing company before working for 2 years in a construction company, executing federal contracts on roads, schools and colleges, in Kota Kinabalu, Sabah.

Besides marketing and approving the commercial loans, he was instrumental in setting up the Loan Recovery Section supervising about RM1.9b NPLs and was involved in structuring loans and lecturing modules on debt collecting and legal documentation on securities for 13 years.

His last appointment was with Hong Leong Bank Berhad in 2003/4 as Head of Remedial Management Department.

Agee Lee holds Honours Degree in Economics (major in Business Administration) from Universiti Malaya, Associate of Institute of Bankers (London), Diploma in Marketing Management (NPC) and Certificate in Financial Planning (MII).

He is now a Training Consultant for IBBM, MIA and Banks in Malaysia and Vietnam. Currently he has been giving talks on practical topics that will boost skills and confidence of participants.

What others have to say after they have attended aGEE workshop

Who Should Attend

Finance / Credit / Account Managers, Executives, Finance Controllers, Accountants and anyone who would be dealing with LCs.

Workshop Size

Registration is strictly to the first 25 people. This cannot be altered. If the past is any indication of the future, spaces fill up very quickly. If you are interested in attending, call us now or download the registration form here and fax it back to us at ++6 03 40235716.

HRDF Claimable

This workshop is claimable under the HRDF SBL Scheme. Checks with your department to make sure you are eligible.

Tax Deductibility

In all likelihood this seminar is tax deductible. Check with your accountant to be sure.

Workshop Investment $$

RM 1690.00 per delegates. This includes all workshop materials. Lunch will be provided.

Early Bird Offer!!

If you register yourself EARLY, you will enjoy a discount of RM100.00. For more information, please refer to the registration form here.

Group Discount!!!

If you register in group of 3 persons or more, you will enjoy additional 5% discount, and if your group are 5 persons or more, you will get a much greater discount of 7%, and 10% discount shall be entitled for group of 8 persons or more. So get your friend or colleagues to register with you!

If you like what you have gone through so far, you may register yourself by downloading the full brochure here, and fax the registration form back to us at ++6 03 40235716. And if you happen to have some friends or colleagues who are looking for similar courses, please forward this link to them.

Yours Sincerely,
BIZFinanceSeminar.com
Tel: ++6 03 40216000
Fax: ++6 03 40235716
Email: bfs@bizfinanceseminar.com