OPEN PROGRAMMES

UNISOURCE KNOWLEDGE MANAGEMENT, BANGALORE
PRESENTS

ONE FULL DAY WORK-SHOP ON LETTERS OF CREDIT MECHANISM FOCUSSING ON UCP 600 and ISBP
For IMPORTERS AND EXPORTERS

On 28 th July 2010 ( Wednesday)
Timings: 9.15 am to 5.00 pm

Do You Know?

That the Letters of Credit account for about 85% of the World's trade? India is no
exception an Letters of Credit account for a sizable sum when it concerns International
Trade But unfortunately, only about 25% of the Documents submitted under
Letters of Credit (L/Cs) actually gets negotiated and paid! Reason? Discrepancies,
which can be easily rectifie Not just that; today, in export L/Cs, it is common to finda
clause "USD 25 WILL BE DEDUCTED FOR EVERY DISCREPANCY NOTED"! Just
convert this sum in to Rupees an if there are even four to five discrepancies per
document, it amounts to a cool Rs.5, 625/-
Remember that the amount mentioned above is on a conservative estimate, at time
banks charge even more!

Definitely, when the margins are windling, no company can ignore this Added to this,
the opportunity cost on account of delay in realizing the money is enormous There are
instances, when the exporter has to reduce the invoice value to the extent of 33% of the
original value on account of discrepancies, as the foreign buyer would use the
discrepancies as leverage for extracting discounts!

what Is New ?

• Are you a aware that all the 38 Articles of UCP 600 automatically apply to the L/c
and now it a rule to be compulsorily followed?
• Does your banker penalize you for flimsily discrepancies?
• Do you know now you can get protection from ISBP – International Standard
Banking Practices?
This workshop will enhance your skills in tackling tricky issues an make sure that your
banker does not hold your documents cause needless delays! We will equip you to fight
for your rights!!

What The Workshop Intends To Do?

In this Letter Of Credit Mechanism - With Focus On UCP 600, the participants will be
exposed to different kinds of problems faced in real life situation while dealing with L/cs
and most importantly, HOW TO OVERCOME THEM!

For Whom?

This workshop is for those who oversee IMPORTS AND EXPORTS business, for those
WHO ARE DEALING with Documentation or even those who are involve in Dealing with
overseas customers with reference to pricing and procuring of raw material etc , through
L/C mechanism It is not only for those who are dealing with IMPORTS an EXPORTS
business, but also for those who intends to start one

Material

Latest material related to the topics covered, prepared by the best in the field with up-to-date
information will be made available In adition, a very useful set of rules that
govern Letters of Credit; UCPDC as well as ISBP (International Stan ar Banking
Practices) will be available This is in the form of CD an can be used for document
checking very effectively (Please ask for a copy at the venue for purchase)

Topics Covered

• Session I: Need for International Trade, Methods of settlement of International
Trade, Bills for Collection, On account Sale, Advance Payments, INCOTERMS 2000
- How different it is from INCOTERMS 1990? Risk coverage available under
INCOTERMS 2000 for collection bills, precautions to be exercise in case of
collection bills, Exchange Control Regulations governing these transactions

• Session II: Introduction to Letters of Credit - why use L/Cs? Parities to L/Cs,
Different Types of L/Cs, Documents under L/Cs, Model L/Cs application What
should you do when you receive a L/C - a checklist of items to avoid inconvenience
later

• Session III: Discrepancies - different types, reasons for discrepancies,
consequences of rejecte documents How to deal with discrepancies? Is your
Banker always right? Avoidance of fraud and introduction to UCPDC 500, an ISBP

• Session IV: CASE STUDIES - based on cases referred to International
Chamber of Commerce, Paris - solutions thereof How to avoid it happening in your
company? Redress avenue what is DOCDEX? Should your company use this
facility? Things to Come: Introduction to Electronic Letter of Credit - the Bolero
Project

What Will You Learn ?

• This Workshop Will throw light on the new changes and helps effectively,
cope with these changes.
• To identify the major changes, improvements and pitfalls of UCP 600
compared with UCP 500

Who Will Provide Answers To These Questions ?

• Would a beneficiary be entitle to recover the purchase price under a sale
contract although the documents presente under an L/C are rejecte due to
discrepancies?
• What are the distinctions between “Honour” an “Negotiation”?
• Are acceptances an deferred payment L/Cs negotiable under UCP 600?
• What is the reasonable time for documents examination and new requirements
of a rejection notice under UCP 600?
• New rules on transport and insurance documents Who bears the risk of loss of
documents in transit? How to Manage trade fraud and documentary risks
effectively?
• You can find answers to these and many more questions in the workshop
Investment

Investment for this one- day experiential learning workshop is as below:




No of participants Amount PAYABLE BY
YOU in Rupees * Percentage of discount
ONE 2390/- NIL
TwO 4541/- 5%
THREE 6596/- 8%
FOUR 8126/- 15
FIVE 9560 20%
BEST OFFER!!

Date: 28.07.2010 ( Wednesday)
Venue & Timing: Conference Hall, # 13, Kalyan Nagar, Nagarbhavi Main R a , Bangalore
560 072. Timings: 9.15 am to 4.30 pm

Registration
Please send us your cheque / Draft in favour of Unisource Knowledge Management
towards cost of the workshop including Lunch and refreshments, Tea/ Coffee, copy of
UCP Booklet, study material and service tax For Registration, please contact Mr
Sridhar Murthy at Telephone No 23147875, 23507846 or 94498 36316 or 9880288467
or email sridharmurthy@unisourceknowledgemanagement.com

YOU CAN ALSO REGISTER THROUGH OUR WEBSITE:
www.unisourcekno ledgemanagement.com

Only for Those Who Register before 22nd July , 2010
Full text of UCP 600 on a CD along With full text of ISBP

Please send the Cheque / Deman Draft to the following address:
UNISOURCE Knowledge Management
#13, 4 th B Main, (II Floor) Kalyan Nagar
Nagarabhavi Main Road, Bangalore – 560 072
Telephone No 23147875, 94498 36316; 9880288467

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