600 and Incoterms
and objectives :
international trade counter party risk and country risk cannot be
avoided. More than a century, instruments like letter of credit and
bank guarantees are used by the companies for trade settlement and to
mitigate their risks.
of the data available through market survey indicates that more than
70% of the documents presented under letter of credit are rejected at
the first presentation. The survey also pointed out the reasons as:
- Letters of credit accepted by the exporters have certain tricky conditions
- Exporters are not fully aware about the UCP Rules while executing documents under letters of credit which results in discrepancies.
- Importers are not able to prescribe appropriate documents to safe guard their interest at the time of establishing letter of credits.
program will exclusively address the operational issues in letters of
credit transactions with detailed discussions on important UCP 600
articles. This will enable the participants to interpret the
implications of the terms and conditions in a letter of credit.
discussion of each document (Bill of Exchange, commercial invoice,
bill of lading, airway bill, certificate of origin and Packing list)
with commonly observed discrepancies will be taken up with practical
finalizing the commercial terms in international trade, terms of
delivery plays an important role in pricing their product and risk
transference. By using appropriate INCOTERMS 2010 (CIF / CIP etc)
both the parties are able to express clearly the responsibilities and
obligations of each of them. This INCOTERMS is indicating the
required documents for a particular transaction while structuring a
letter of credit. Brief discussion on the implication of certain
INCOTERMS 2010 will be addressed. International market has come out
with a new product known as Bank Payment Obligation (BPO). ICC Paris
has set the rules for this instrument. This instrument will be a mix
of letter of credit and Bank guarantees. This instrument has come out
into force from 1st
July 2013. Highlight of this instrument with detailed explanation
will be discussed. By participating in this workshop, participants
will be able to enrich, with hands on experience in handling letters
of credit transactions from the initial stages of finalizing the
terms of delivery and terms of payment in a commercial transaction as
well as update themselves with the latest developments which will
result in reducing than transaction cost and better usage of these
a letter of credit transaction “significance of underlying contract
in identifying terms of delivery, basic understanding of INCOTERMS
2010 – terms of payments, quick review of letter of credit
operation, responsibilities and of different parties in a letter of
transaction and types of letter of credit”.
to structure import transaction through letters of credit,
appropriate documents required for Letter of Credit and discussion on
important UCP 600 Articles.
in a letter of credit transaction “commonly observed discrepancies
in draft (bill of exchange), invoice, transport documents, insurance
and certificate of origin”.
on the proposed new instrument
Rules for Bpo
11:00 am – 1:00 pm
For AECCI Members/ Management Students : Complimentary
Non-members: Rs. 1000/- + service tax as applicable per person.
closed on 15/03/16.
participants may send in their confirmation to
/ call us on - 022 4127 1145 / 46.
should be in the favor of “ASIAN
EXPORTERS CHAMBER OF COMM AND IND”
by Interactive Session, Networking, refreshment and lunch.
Management students must carry their college ID for complimentary.
Download Registraion Form: Download