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The spread of COVID-19 worldwide has caused serious disruptions to international trade. Many parties are involved in International Trade. Other than ourselves, they include customs and other government authorities, financial institutions, insurers, export services providers, international carriers (air & sea) and our customers.
What are the respective parties' obligations under letters of credit in circumstances like these?
This workshop will help you understand and mitigate the potential risks and fraud in international trade, and also provide practical insights on the recent developments and the essential documentary credits.
The four main aspects of international trade payments, the risks involved and potential fraud in the various payments, how payments are done and an introduction on the latest international trade terms will be discussed.
Overview of International Trade
Definition of Customer
Impact of COVID-19 on businesses – PEST
Documents used in International Trade
Managing four types of International Trade payments and the risks inherent in the different payment structures –
Different types of Documentary Credits and the Risks
General risk in Documentary Credit
Latest development in Trade – A Practical Overview
Q&As and Case Study
Richard is a highly respected veteran in the trade finance industry. He was formerly the Head of Commercial Group in JP Morgan, in charge of both Trade Finance and Funds Transfer. He moved on to The Asahi Bank Ltd, and subsequently assumed responsibility as a Deputy General Manager for the smooth operations of the various departments including those in Trade functions. During the tenure, he also headed the Compliance department of the bank.
Richard subsequently joined Kenwood Asia Ltd, where he was tasked to review the company’s risk management functions, amongst other commercial responsibilities. He was also previously a Consultant with Sapphire Corporation Ltd, a public listed company.
Richard is an Associate Member of the Chartered Institute of Bankers, a graduate member of the Institute of Exports (UK) and holds a Master of Business Administration degree.
This is a face-to-face event to be conducted on 9 April 2021. ACCA members will enjoy the members' fee of $400.18 (including GST). Kindly key in the promo code "ACCA21" during registration. You will be requested to furnish your ACCA membership number upon receipt of our confirmation.