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| SBF Events |
Workshop on Case-Studies on 30 Pitfalls, Tricks & Traps in
Letters of Credit Transactions
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| Date |
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25 & 26 Oct 2010 |
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9.00 am - 5.00 pm |
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SBF Seminar Room 2 (21st level, Keppel Towers)
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| Fee per pax (incl GST) |
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SBF Members - S$599.20
Non Members - S$706.20
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Financing international trade is a risky business, this seminar helps traders to interpret the risks, and shows them how to protect themselves. As traders don’t have to work long in the business to realize that international trade is not just about buying and selling. It involves international transport, and that means putting cargoes in the hands of transport operators who are sometimes unscrupulous or under-capitalised. This seminar will illustrate the risks and fraud possibilities on how buyers and sellers are the losers as well as how buyers and sellers collaborate to cheat Banks and Insurance companies. Fraudsters and unscrupulous traders can abuse these weakness to the detriment of exporters, importers, bankers and shipping agents. The course will share with participants many practical case studies collected through many years of research as well as through contacts with exporters and importers and bankers during numerous public seminars conducted over the last 12 years. It is therefore imperative for all those using letters of credit to be aware of the risks and frauds to prevent loss, and learn from past leading court cases.
| Workshop Curriculum |
- Risks inherent in the different payment structures
- 20 over pitfalls in LC operations
- Tips for exporters/importers
- Risks faced by buyers/sellers
- Characteristics of frauds & parties involved
- Types of frauds
- Documentary fraud
- Maritime fraud
- Standby LC fraud
- Local LC fraud
- Shipping Guarantee Fraud
- Switched BL fraud
- Cargo insurance fraud
- Charterparty fraud
- Fraud prevention measures
- Effect of fraud on bank’s obligation to pay under LC
- Leading court cases
- Fraud cases
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Target Audience
This workshop is designed to benefit staff involved in customer service, order processing, finance and accounting, shipping & logistics, credit analysts and credit control, sales & marketing, freight forwarders and shipping. It is also suitable for any company intending to export regionally and globally.
Instructors
This workshop will be conducted by Victor Tan, MBA(Strathclyde), ACIB, MInstAM, a qualified Life Associate Member of The Chartered Institute of Bankers, London and has 15 years of banking experience covering the areas of International Trade Finance, Remittances, Guarantees, Import and Export departments. He has worked with various International Banks since 1977 starting with Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and lastly Barclays Bank, where he was Deputy Head, Trade Finance, on leaving the Banking industry in 1992.
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Administrative Details
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- Please mail this registration form together with a cheque to SBF (10 Hoe Chiang Road, #22-00, Keppel Towers, Singapore 089315). Cheque should be made payable to "Singapore Business Federation". Please indicate the Ref No., company name and participant's name, SBF membership no. behind cheque.
- Confirmation of your registration will be emailed to your company. Please present the email confirmation for admission to seminar room.
- We regret that no refund will be made for cancellation or non-attendance once registered but a replacement is allowed. Full fees will be charged for cancellation or non-attendance.
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Ref No: MBER 181/251010/09W
REGISTRATION FORM - Attn: MR Dept /Jennifer
Closing date:18 Oct 2010,
NOTE : As a precautionary measure, our advice is for members who are unwell not to attend the session.
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Registration
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