Managing International Trade Financing Risks
- Finance & Investment
This module is conducted in-person.
2 Full Days (Weekdays)
Who Should Attend
- Corporate treasurers, finance and shipping executives
- Professionals in trade credit insurance, risk management, audit, compliance and operations
- Corporate bankers, junior trade specialists and management associates
Overview
International trade is a multifaceted and intricate domain, characterized by the frequent interaction of parties with unfamiliar counterparts, customs, and regulations in cross-border transactions. This two-day workshop delves into the spectrum of trade financing instruments employed to facilitate financing and mitigate risks in international trade transactions.
Participants will acquire a comprehensive understanding of the mechanisms underlying various payment methods, risk mitigation strategies, documentation requirements, and governing rules, as well as the ability to identify red flags associated with discrepancies and fraudulent activities.
Learning Objectives
- Understand the key risks in international trade financing
- Know governing rules & documentation for international trade
- Learn the different methods of payment & their inherent risks
- Apply control measures to mitigate risk exposures
Topic/Structure
Key Risks in International Trade Financing
- Risks encountered by buyers & sellers in international trade
- Performance, non-acceptance, documentation & payment risks
- Measures to mitigate risks
International Trade Finance Rules
- INCOTERMS 2020, Bills of Exchange Act
- UCP 600, eUCP
- URC522, ISP98, ISBP681, URR725, URDG758
Essential Documents
- International Commercial Terms (INCOTERMS)
- Essential documentation for trade transactions
- Nature & characteristics of key documents
Methods of Payment & Inherent Risk
- Open account
- Payment in advance
- Documentary collection
- Documentary credit
Documentary Credit: Letter of Credit (LC)
- Features, mechanism, risk & control
- Specialized LCs – transferable, back-to-back, revolving & standby LC
Other Types of Instruments
- Bank guarantees / Bonds
- Supply chain financing
Risk & Controls in Trade Financing
- Legal aspects of LC
- Dealing with discrepancies & fraud
Assessment
As part of the requirement for SkillsFuture Singapore, there will be an assessment conducted at the end of the course. The mode of assessment, which is up to the trainer’s discretion, may be an online quiz, a presentation or based on classroom exercises.
Participants are required to attain a minimum of 75% attendance and pass the associated assessment in order to receive a digital Certificate of Completion issued by Singapore Management University.
Calculate Programme Fee
Fee Table
| COMPANY-SPONSORED | |||
|
PARTICIPANT PROFILE |
SELF-SPONSORED |
SME |
NON-SME |
|
Singapore Citizen < 40 years old Permanent Resident LTVP+
|
$523.20 (After SSG Funding 70%) |
$203.20 (After SSG Funding 70% |
$523.20 (After SSG Funding 70%) |
|
Singapore Citizen ≥ 40 years old |
$203.20 (After SSG Funding 70% |
$203.20 (After SSG Funding 70% |
$203.20 (After SSG Funding 70% |
|
International Participant |
$1,744 (No Funding) |
$1,744 (No Funding) |
$1,744 (No Funding) |
All prices include 9% GST
Please note that the programme fees are subject to change without prior notice.
Post Secondary Education Account (PSEA)
PSEA can be utilised for subsidised programmes eligible for SkillsFuture Credit support. Click here to find out more.
Self Sponsored
SkillsFuture Credit
Singapore Citizens aged 25 and above may use their SkillsFuture Credits to pay for the course fees. The credits may be used on top of existing course fee funding.
This is only applicable to self-sponsored participants. Application to utilise SkillsFuture Credits can be submitted when making payment for the course via the SMU Academy TMS Portal, and can only be made within 60 days of course start date.
Please click here for more information on the SkillsFuture Credit. For help in submitting an SFC claim, you may wish to refer to our step-by-step guide on claiming SkillsFuture Credits (Individual).Workfare Skills Support Scheme
From 1 July 2023, the Workfare Skills Support (WSS) scheme has been enhanced. Please click here for more details.
Company Sponsored
Enhanced Training Support for SMEs (ETSS)
- Organisation must be registered or incorporated in Singapore
- Employment size of not more than 200 or with annual sales turnover of not more than $100 million
- Trainees must be hired in accordance with the Employment Act and fully sponsored by their employers for the course
- Trainees must be Singapore Citizens or Singapore Permanent Residents
- Trainees must not be a full-time national serviceman
- Trainees are eligible for ETSS funding only if their company's SME status is approved prior to the course commencement date. To verify your SME's status, please click here.
Please click here for more information on ETSS.
Absentee Payroll
Companies who sponsor their employees for the course may apply for Absentee Payroll here. For more information, please refer to:
AP Guide (Non-SME Companies)
Declaration Guide (SME Companies)
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