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letters of credit & UCP 600

Strict Compliance To Letters of Credit & UCP 600

Date: 10th-11th September 2008
Venue: Legend Hotel, Kuala Lumpur, Malaysia

With the recent introduction of UCP 600, the importers, exporters and the banks had to
revise their operations on the documentary credits.

It was found that more than 50% of the documents presented by the importers and exporters
to the banks for payment under the letters of credit are rejected on their first presentation.

It has now become necessary for these importers and exporters to efficiently streamline their
operation on the documentary credits so as to save time, costs and unwanted litigations.

Otherwise, the negotiating bank’s ability to pay against documents submitted under a letter
of credit depends entirely on the strict compliance of these documents with the terms and
conditions of the credit and the provisions of the Uniform Customs and Practice for Documentary
Credits.

It is the aim of this facilitator then to show how a letter of credit is workable, trouble-free and
provides the security of payment for which the letter of credit was requested in the first
place.

It is essential for the importers and exporters to understand the importance of the bank’s
application to open a letter of credit, particularly with relevance to the new UCP 600. Thus
working through the various sections of a bank’s application form for opening letter of credit
will help to reduce discrepancies and related unplanned costs.

Then, it will be found that more than 70% of documents presented will now be readily
accepted on their first presentation.

~ Practical views from a previous Loan Manager ~

Objectives

Who Should Attend

Finance Managers, Accountants, Financial Controllers, General Managers, CFO, COO, CEO, and Directors.

The Expert - Mr Agee Lee

Agee Lee has more than 22 year of experience in commercial banking in Malaysia and has worked in Malayan Banking Berhad and seconded to Kwong Yik Bank Berhad.

Besides marketing and approving commercial loans for 10 years, he was instrumental in setting up Loan Recovery Division managing NPLs of RM1.9b and was also involved in structuring loans and lecturing modules on debt collecting and legal documentation on securities for 13 years.

During these times, he was well-conversant with the laws, guidelines and numerous accounting tools and corporate affairs to assist him in issuing Standard Practice Instructions to 145 branches.

He also worked in a property development company for 2 years, and involved in a manufacturing company before working for 2 years in a construction company in Kota Kinabalu, Sabah.

His last appointment was with Hong Leong Bank Berhad in 2003/4 as Head of Remedial Management Department.

Agee Lee holds Honours Degree in Economics (major in Business Administration) from Universiti Malaya, Associate of Institute of Bankers (London), Diploma in Marketing Management (NPC) and Certificate in Financial Planning (MII).

He has also been appointed as Training Consultant for IBBM, MIA and Banks. Currently he has been giving talks on practical topics that will boost skills and confidence of participants.

Workshop Format

HRDF

This workshop is HRDF SBL Scheme Claimable.

Call Us Now!

Do not miss this professional training - The investment is only RM 1690 per delegate, and RM 1590 for the early bird fees (register before 8th August 2008), It's a small investment in future success. If you would like to have more information or would like to know about the fees for group registrations, please do not hesitate to contact us now.

Tel : (603) 40216000
Fax : (603) 40235716
Email : admin@gin-my.com