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Beacon FinTrain

Provides an array of professional business and financial training services that stem from improving a corporate's treasury workflow —all the way to efficient, finance training programs.

Course Overview

Throughout these modules, participants will embark on a comprehensive journey into the intricate realm of international trade. Beginning with an exploration of fundamental concepts such as comparative advantage and the distinct nature of global trade, attendees gain a solid understanding of the complexities that set international transactions apart. The elucidation of SWIFT organization's role and message types further enriches their understanding of the infrastructure supporting global commerce.

Learning Outcome

Explain the risks involved in International Trade

Identify different types of shipping documents and their usages

Identify the four types of payment methods used in international trade

Assess the risks and how to mitigate them under each type of payment methods

List the various types of guarantees

Explain the standby letters of credit

Course Outline

  • What is meant by international trade & the concept of comparative advantage
  • Why international trade differs from domestic trade
  • SWIFT organization, message types and usages.

  • Types & usage of shipping documents in international trade
  • Incoterms 2020 rules

  • Advance Payment, definition and mechanism
  • Open account, definition and mechanism
  • Documentary collections, definition and mechanism and its main features & types
  • Documentary credit, definition, mechanism and its main features & types
  • Assessment of risks involved in each type and how to mitigate them
  • Identifying the best method that’s suitable for the seller and the buyer.

The letter of credit definition and its main features and parties The responsibilities and risks of the parties involved Letter of credit’s application and different swift types Letters of Credit’s msg format and necessary fields Roles and responsibilities of the Banks "issuing bank, advising bank, confirming bank, and nominated bank" Documents under Letters of Credit

The letter of guarantees definition and its main features and parties The responsibilities and risks of the parties involved The various types of guarantee Standby letters of credit

Who Should Attend

International Trade Managers=Import/Export Managers=Supply Chain Managers=Trade Finance Officers=Shipping and Logistics Managers=Finance Managers=Sales Managers involved in international transactions.

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