L/C Procedures for Import & Export with Practical Exercise training centre in Bangladesh

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L/C Procedures for Import & Export with Practical Exercise

Introduction

Bangladesh is a developing country. The main growing sectors and industries in Bangladesh are Ready Made Garments, Pharmaceuticals, Leather, Ceramics, Plastics, Steel, Shipbuilding and many others. Most of the industries irrespective of their categories are depended on imported raw materials directly or indirectly in addition to local procurement. Besides, the export oriented industries have been exporting their finished goods throughout the world.

Exports and Imports involve a lot of technicalities because this takes place between two countries, under different situations, rules and regulations and culture. As such, export-import transactions call for proper understanding and in depth knowledge of various technical aspects including Letters of Credit Operations. To learn these theoretical aspects and for sharing of many other practical details regarding export and imports from the experience of a professional - executive this training has been arranged.

Training Objectives:
This training aims at:
• Why and how domestic trade and international trade differ;
• The various international trade payment methods including open account payment terms;
• The role of bill of lading in international trade;
• Differentiate between the documents that are documents of title to goods and those that are not.
• Letters of Credit –its origin, meaning & types.
• Role and responsibilities of the parties involved.
• Import Procedure/The process involved in a letter of credit cycle.
• Documents used in international trade.
• How to examine documents?
• Incoterms -2010
• UCPDC-600
• ISBP-681
• Export Procedure
• Financing of Export.: Pre-shipment & Post Shipment finance
• Export Incentives
• Dealing with Discrepancies
• Options Available to the Exporter When Documents areDiscrepant.
• Taking up documents or issuance of a notice of refusal.
• Disputes and settlement of disputes
• Shipping Procedure and, many more.

Methodology

PowerPoint Presentation, Interactive Lecture, Question and Answer session.

Contents of Training:

Session – 1
• An overview on International Trade
• International Trade Payment Methods: Cash in advance; Open account; Collection; Documentary Credit (also known as Letter of Credit)
Incoterms 2000: An overview
Salient features of Import Policy Order (IPO) in force
Imports without opening of L/C

• Bill of Exchange (Draft) - (a) Sight bill of exchange & (b) Usance bill of exchange

Session – 2
• What does a collection mean?
• Meaning of documents
• Basis of payment: D/P,D/A
• Handling of collection: Clean Collection and Documentary Collection
• What are the documents handled under collection?
• Uniform Rules for Collection (URC) ICC Publication No.522
• Documentary Draft Transaction/collection procedure
• Risks those are inherent under collection/contract procedure.
• How Exporters May be Protected against Exports under Contract Procedure?

Session – 3
• Introducing Letter of Credit:
• Definition of Documentary Credit /Other definitions (as per Article -2 of UCPDC)
• Parties involved in Documentary Credit Operation: Applicant; Beneficiary; L/C Issuing Bank; Advising Bank; Nominated Bank; Confirming Bank; Negotiating Bank; Claiming Bank; Reimbursing Bank

Types of Letter of Credit:
Sight Payment Credit; Acceptance Credit; Deferred Payment Credit; Negotiation Credit; Unconfirmed Letter of Credit, Confirmed Letter of Credit; With recourse credit, Without recourse credit; Transferable Credit, Back to Back Letter of Credit; Red Clause Letter of Credit; Green Clause Letter of Credit and Standby Letter of Credit.
• How does a Letter of Credit (L/C) Operate? Complete procedure for imports into Bangladesh through opening L/C
• Advising of Credits and Amendments (Article - 9)
• Amendments (Article -10)
• Nomination (Artilce-12); Functions of Nominated Bank

Session – 4
• Complete procedure for Export from Bangladesh
• Documents Used in Documentary Credit Operation (Article 18 – 28)
• Examination of Documents (Article-14)
• Discrepant Documents, Waiver and Notice (Article-16)
• Disputes and Settlements of Disputes
• Practical Exercise on L/C

• Familiarizing with Forms/Documents that are necessary for opening of L/C (such as, L/C Application Form; LCA Form; IMP Form; Proforma Invoice (PI)/Indent; Insurance Cover Note/Policy and, any other forms/documents if required, as per Import Policy Order (i.e. IPO) and their uses/ implications
• Case Studies
• Open Discussion

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Bankers, Exporters & Importers, Procurement Executives/ Officials, Officials engaged in export of Ready Made Garments( RMG), Officials working in Buying Houses/Carriers/Carriers’ Agents, Insurer/ Insurance Executives & Lawyers, Academics, new job seekers and,any one interested in export- import operation.
Arrangement for Certificate, lunch and two tea-break would be made by the Organizer during the workshop.