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A highly interactive training course on

Understanding International
Payment Systems: URC 522 & UCP600

Managing Payments, Risk & Liquidity

Session Dates
Location
Fees
31 Jul - 04 Aug 2023
Dubai, UAE
$5,950
25 - 29 Dec 2023
Dubai, UAE
$5,950

Why Choose this Training Course?

In an increasingly volatile and competitive global market, negotiating and managing International Payments is vital for efficiency, liquidity and profitability. It is important therefore to understand the nature and legal issues relating to ICC Uniform Rules for Collection (URC 522 and ICC Uniform Customs & Practice for Documentary Credits (UCP600) / Letters of Credit.

This COPEX training course provides a detailed analysis of the procedures/systems; the legal protection and obligations and an evaluation of these important international payment systems to enable delegates to manage the risks facing both importers and exporters effectively and efficiently.

This COPEX course is designed to enable participants to negotiate and manage appropriate methods of payment, reduce risk and manage liquidity whilst remaining competitive in a volatile global market. It will cover key principles, concepts as well as best practice and market developments through interactive analysis and evaluation of case studies designed to increase the participant practical skills.  

This COPEX training course will feature:

  • An Evaluation of the Major Risks of International Trade
  • A detailed examination of ICC Uniform Rules for Collection (URC 522)
  • A detailed examination of ICC Uniform Customs & Practice for Documentary Credits (UCP600)
  • Future Payment Systems and Regulation
  • The Essential Methods of Reducing Financial Risk

What are the Goals?

By the end of this COPEX training course, participants will be able to:

  • Gain a detailed understanding of Understanding ICC Uniform Rules for Collection (URC 522) and ICC Uniform Customs & Practice for Documentary Credits (UCP600)/Letters of Credit
  • Be able to select the most appropriate method of payment in given situations in view of their cost/benefits
  • Be able to negotiate and manage appropriate methods of payment in given situations to reduce risk and manage liquidity whilst remaining competitive in a volatile global market
  • Be able to examine the legal and regulatory framework: international protocols/conventions
  • Evaluate the latest developments and upcoming payment systems

Who is this Training Course for?

This COPEX training course is suitable to a wide range of professionals but will greatly benefit:

  • Those responsible for negotiating, managing or processing international payments either as exporter, importer or contractor.
  • Bank officials who deal with international payments, finance/liquidity issues or exchange rate problems faced by their clients.
  • Staff responsible for international transactions
  • Staff responsible for exchange rate risk management
  • Managers dealing directly or indirectly with international payments, liquidity/finance and exchange rate risk who wish to increase their understanding and awareness of the major issues and on-going development

How will this Training Course be Presented?

This COPEX training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes the evaluation of case studies from the real world relevant to the delegates industry, videos, discussions and simulations. This will ensure that delegates leave with knowledge and transferable skills to benefit their workplace and personal career goals.

Course Outline

Day One: The Market & Risks of International Trade

  • Global Trade
  • The Major Problems & Risks of Trading Internationally
  • Managing Risks of International Trade
  • International Jurisdiction Protocols or Conventions: ICC International Chamber of Commerce regulations
  • The Major International Payment Systems
  • Future Payment Systems

Day Two: Collections & Letters of Credit

  • The Procedures
  • The Role and Responsibilities of those involved
  • The Risks and Benefits
  • Types of Letters of Credit – Restricted, Transferable, Back to Back, Standby and ISP98 etc
  • Collections v Letters of Credit v Bank Guarantees
  • How to Avoid the Risks

Day Three: Understanding ICC Uniform Rules for Collection (URC 522)

  • D/A v D/P
  • Documentation
  • URC 522 – a detailed understanding
  • Safeguarding against Risks
  • URC explained
  • Associated Finance

Day Four: Uniform Customs & Practice for Documentary Credits (UCP 600)

  • Scope and application of the rules (Article 1). Definitions and interpretations (Articles 2 and 3)
  • Obligations and liabilities (Article 4 to 13)
  • Examination and dealing with documents (Article 14 to 17)
  • Documents including commercial invoice, transport documents and insurance document (Article 18 to 28)
  • Miscellaneous Provisions (Article 19 to 33)
  • Disclaimers (Article 34 to 37) & Transfer and assignments (Articles 38 & 39)

Day Five: Future Payment Systems

  • What does the Future Hold?
  • UCP 600 Revisions
  • ICC recommendation and guidance papers
  • Uniform Rules for Bank-to-Bank Reimbursements (URR 725)
  • International Standard Banking Practice for the Examination of Documents under Documentary Credits (ISBP 745)
  • UCP700

The Certificate

  • COPEX Certificate of Attendance will be provided to delegates who attend and complete the course

© 2022 Copex Training - All rights reserved.

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