Professionals involved in the commodity trading and financing value chain need to possess specialised knowledge to manage their risk exposures and avoid huge losses.

Recent high profile fraud cases highlights the challenges faced by financial institutions and trading houses in financing commodity trades. Given the diversity, complexity and substantial size of commodity trades, professionals involved in the commodity trading and financing value chain need to possess specialised knowledge to manage their risk exposures and avoid huge losses.

 

The Commodity Repo & Warehouse Receipt Financing workshop examines the key considerations in warehouse receipt financing and commodity repo arrangement. Facilitated by industry veterans, this workshop adopts a case-study learning approach to share practical insights on market nuances, financing structures, pitfalls, risk mitigation and controls.

 

This is the Fifth of six modules leading to the SMU Executive Certificate in Structured Trade & Commodity Finance.

 

Programme Code

to be advised

Programme Objectives

  • Learn the structure of warehouse receipt financing

  • Understand commodity repo arrangement

  • Identify salient issues of debt structure

  • Know the risk exposure and documentation requirements

  • Gain insights from case discussion

Who should attend

  • Senior management in corporate lending looking into structured trade finance business

  • Relationship managers and bankers who advise trading and commodity companies

  • Trade finance specialist, account/marketing managers 

  • Commodity traders who are keen to learn the financing aspects of commodity trades

  • Corporate treasurers, finance directors in trading and commodity companies

  • Professionals in middle office functions such as credit, risk, audit and operations, responsible for ensuring proper execution, management and financing of commodity trades

Topics

Warehouse Receipt Financing

  • Structure & characteristics

  • Salient issues

    • Legal rights over goods

    • Control over physical goods

    • Collateral management

    • Warehouse & storage

  • Risk considerations

    • Legal

    • Documentation

    • Price

    • Disposal/resale

    • Counterparty

    • Loss/damage/theft/shrinkage

    • Other liabilities

  • Case discussion

 

Repo Arrangement

  • Structure & characteristics

  • Benefits of commodity ownership in Repo

  • Salient issues

    • Type of goods

    • Storage considerations

    • Price fluctuations

    • Disposal/resale

    • Public/product/environment liability

    • Loss/damage/theft

    • Re-characterization

    • Jurisdiction

     

  • Documents and key clauses

    • Master repurchase agreement

    • Collateral management agreement

    • Insurance

     

  • Case discussion

Level of Proficiency

Intermediate

Assessment

An written assessment will be conducted at the end of the course.

Certification

Upon meeting the minimum attendance requirement and passing the assessment, participants will receive a Certificate of Completion.

Type of Course

Classroom

Category

Finance

Fees

Full Fee: S$1,070 per pax (incl. GST)

 

SkillsFuture Singapore (SSG) Funding for Individuals:

  • S$321 (incl. GST) for Singapore Citizens and Singapore Permanent Residents
  • S$121 (incl. GST) for Singapore Citizens aged 40 years and above

Funding

SkillsFuture Series
Course fee grant at 70% of course fees (excl. GST) for participants who are successfully enrolled by SMU into approved courses under the Programme. Participants must be Singapore Citizens or Singapore Permanent Residents.


SkillsFuture Mid-Career Enhanced Subsidy ("MCES")
Up to 90% of course fees for Singapore Citizens aged 40 years and above


Enhanced Training Support for SMEs ("ETSS")
Up to 90% of course fees; and 80% of basic hourly salary capped at $7.50/hr for local employees of SMEs


SkillsFuture Credit
Singapore Citizens aged 25 and above, and self-funding may use their SkillsFuture Credit (up to S$500) to defray part of the course fee. Please click User Guide on how to submit your claim. SkillsFuture Credit claims may be submitted by logging in via MySkillsFuture.sg.

Prerequisites

This is an advanced level course. Participants are required to have a good working knowledge of traditional trade financing such as Incoterms, trade documentations, documentary collection/credit and trade financing instruments such as bills of exchange, letters of credit, demand guarantees etc. Admission to the programme is subject to approval.  

Course dates

19 May 2018
Sat 09:00 - 17:00

Contact Us

For enquiries, please contact Jaclyn Mah at 6828 0254 or email fti@smu.edu.sg

Programme Policies

Please click here for the programme policies, terms and conditions. 

Trainer's Biography

Angela Wei

Angela Wei has over 18 years of experience in banks and commodity trading companies in London and Singapore. She was with Commerzbank AG, London from 1999 to 2006, responsible for structured trade and commodity finance transactions for emerging market in Africa, Middle East and the former Soviet Union. She became the Deputy Head and Director of Financial Consulting and Structuring in 2006. In 2009, she moved to Singapore to join ANZ Bank, where she helped build up the structured trade finance business for a broad range of commodities in South and South East Asia markets.

Angela moved to Cargill Singapore in 2011 as the Director of Asia Structuring for its Trade and Structured Finance business. She joined Bank of China in 2015 as Head of the Commodity Business Unit. Angela has an MBA from Imperial College and a degree in Economics & Law.