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Description
The Houthi Red Sea attacks caused the biggest disruption to international trade since the Covid-19 pandemic. Along with other conflicts, terrorism, corruption, and fraught political regime, we are increasingly seeing international trade disruptions as a norm rather than exception.
With the global economy becoming increasingly intertwined, many companies are inevitably working and dealing with foreign buyers, foreign suppliers, or both. This carries the risks inherent to international trade, from preventable errors to unforeseen geopolitical events.
International Trade Risk can have a significant impact on the profitability and financial stability of businesses in several ways. It can mainly result in reduced revenue, increased costs, reputational damage and business uncertainty. Each of these risk factors can adversely impact your business, and this practical workshop will help you gain a deeper insight on these risks and how you can manage them.
Programme Outline
- Introduction
- Overview of International Trade
- Risks Associated with International Trade
- Difficulties Associated with International Trade
- Understanding Risks in International Trade
- Assess Country & Customer Risks
- Risks to Buyer
- Risks to Seller
- General Risks
- Cash in Advance Risks
- Risks in Letters of Credit
- Documentary Collection Risks
- Open Account Risks
- Bankers Guarantee & Standby LC Risks
- What to Do if Things goes Wrong: Navigating Hidden Risks in International Trade
- How to Mitigate the Risks Associated with International Trade
- Trade-Based Money Laundering
- Terrorist Financing
- Sanctions
- Q&A
What you will learn
On completion of this workshop, participants should:
- Have a practical understanding of the inherent and hidden risks in International Trade
- Acquire practical pointers on how to mitigate these risks
Target Audience
- Accounting and Finance Professionals
- Auditors
- Business Managers
- Import / Export Managers
- Anyone interested in understanding and managing the risks arising from International Trade
Expert Speaker
Richard Yeo
Richard Yeo 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.
In his recent role as Consultant in Sapphire Corporation Limited, a public listed company, he sourced for facilities and funding from banks to support in the numerous projects, including a US$72.8 million Collar Finance and US$15 million Letter of Credit Facilities.
Richard enjoys sharing his knowledge and experience in seminars and workshops. He was also an invited speaker in a seminar on “Risks and Frauds in Import/Export Procedures” for the Singapore and ASEAN Police Force held in the Commercial Affairs Department Singapore.
Richard has an MBA and is a member of several professional bodies, including the Chartered Institute of Bankers and the Institute of Exports (UK).
This is a face-to-face workshop to be conducted on 19th of April 2024. ACCA members will enjoy the members' fee of $425.00 (before prevailing GST rate). Kindly key in the promo code "ACCA24" during registration. You will be requested to furnish your ACCA membership number upon receipt of our confirmation.