Services for Import & Export Traders

Scrutinizing Export Letters of Credit

  • Is your company’s name spelled correctly and is the address correct?
  • Does the LC state it is irrevocable?
  • Was it necessary for the LC to be confirmed and, if so, is the confirming bank acceptable?
  • Is the amount and currency of the LC correct?
  • Is the tenor of the draft acceptable?
  • Is the merchandise described correctly?
  • Does the Incoterm match your sales contract?
  • Are the transportation details correct?
  • Can the shipping date be met?
  • Are the insurance instructions clear and correct?
  • Is the expiration date acceptable, and does it expire where the credit is available or the country of Issuance?
  • Are the document requirements clear and understandable?
  • Does the LC contain reimbursement instructions?
  • Are the banking fees being paid by the correct parties?
  • Is the LC subject to the UCP600?

Foreign Exchange Remittance

  • How foreign exchange transactions handled in a Bank?
  • Currency coversion rates and role of bank and treasury unit within the banks.
  • How currency deals are done in advance?
  • Spot Deals, Forward Deals, Hedge Option, Put and Call Options

Cross Border Trade Mechanism

  • How trade happen between parties located in different countries?
  • What are the preliminary requirements for a trade transaction?
  • What are the regulations to follow for a cross border trade transaction?
  • How goods and/or services and money move between countries.

Currency Conversion

  • How a local currency is convered into a foreign currency?
  • Rules to follow for a currency converstion process.
  • Why a currency conversion is required to make a payment?
  • How volatility of a currency value is anticipated and handled by traders?

Payments and Reimbursement

  • Difference?
  • How payment mechanism works?
  • How Reimbursement Mechanism works?
  • URR 725 [Uniform Rules for Reimbursement ICC Publication 725.
  • Articles of URR 725
  • Parties and Roles in this process