INTRODUCTION FOR UNDERSTANDING CARGO TITLE TRANSFER AND METHOD OF PAYMENT FOR DOMESTIC AND INTERNATIONAL TRADE

One of the key processes to purchasing activities is cargo title ownership and payment for the purchases.  By identifying when the cargo belongs to the purchase organization and identifying the best method of payment helps to secure protection for purchasing party.

This program will bring this knowledge and awareness to the participants in order to helps them made the right decision on delivery contract and payment terms.

COURSE OBJECTIVES

By the end of the 2-day interactive session, the learning curve achieve will enable the following:-

• UNDERSTAND the rule and procedure in using Letter of Credit, Documentary collection and Guarantees
• UNDERSTAND the benefit and risk using Letter of Credit, Documentary collection and Guarantees
• UNDERSTAND the different type of Letter of Credit, Documentary collection and Guarantees
• UNDERSTAND the rule of Intercoms 2020, Sales of Goods Act Cargo title ownership rules

TRAINING DURATION

• 2 day course with case studies and test evaluation
• 00am to 5.00pm (with lunch / tea break)

TRAINING METHODOLOGY

This training will involve the following area to enhance learning:

• Power point presentation
• Case studies / Brain storming session
• Discussion on subject of learning
• Facilitating by trainer to enhance understanding of subject matter
• Notes will be provided
• Exercise to evaluate participants understanding

PARTICIPANTS GROUP

This training program is highly recommended for employees in purchasing, sales and marketing and finance personnel.

COURSE CONTENT

Module 1 – Introduction to Delivery and Cargo Ownership Rules

• Risk transfer versus Cargo Ownership concept
• Incoterms risk and benefit for seller and buyer
• Sales of Goods Act rule versus Incoterms rules
• Identifying best delivery rules for buyers and sellers

Module 2 – Indirect Payment System

• Standby Letter of Credit, purpose and objective
• Bank Guarantee, an introduction
• Direct Guarantee
• Indirect Guarantee
• Guarantee with co Guarantor
• Benefits and risk of Guarantee
• Trade Insurance

Module 3 – Direct Payment system (Documentary Collection)

• Parties in Documentary collection
• Rules of Documentary collection
• Documentary against Acceptance
• Documentary against collection

Module 4 – Direct Payment system (Letter of Credit)

• Rules of Letter of Credit
• Revocable Letter of Credit
• Irrevocable Letter of Credit Confirmed
• Irrevocable Letter of Credit Non Confirmed
• Transferable Letter of Credit
• Back to Back Letter of Credit
• Risk and Benefit of Letter of Credit to buyer and seller
• Joker terms

Module 5 – Key Clauses of Letter of Credit and Documentation Procedure

• Common fields in letter of credit
• Bill of Lading formatting
• Rule of Insurance
• Blank endorsement

Module 6 – Domestic and Other International Payment system

• Open term (Cash)
• Bill of Exchange
• Factoring and Forfaiting

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