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Applications of Letter of Credit (L/C) have evolved rapidly with the fast-changing international trading environment over the past few years. Different kinds of L/C vary in their functionalities, terms and applications. Professionals who are involved in international trade should have an in-depth understanding of the characteristics of different types of L/C so as to avoid frauds and deception in trading engagements. In this workshop, the speaker will introduce to participants various types of L/C from the operational perspectives.

Course outline:
1. Introduction of various types of L/C from the operational perspectives.
2. When an exporter has financial concern about the L/C issuing bank, what should the exporter do to lower the risk?
3. Differences between transferrable L/C and back-to-back L/C. What are the conditions to apply these L/Cs? What should be considered upon arranging these L/Cs to the sellers/factories?
4. Is back-to-back L/C or front-to-back L/C more secured to the buyer and seller?
5. What are the possible risks when one issues transferable L/C? How to avoid disclosure of actual profits generated from the transaction to the supplier?
6. When should one apply revolving L/C? What are its possible operational modes? What are the advantages to the applicant and the beneficiary respectively?
7. Upon providing support to overseas subsidiaries in the process of credit facilities application in a local bank, what kind of L/C could the head office apply?
8. When an exporter is facing cash flow problems, which kind of L/C could offer the exporter with advance payment?
9. Among Confirmed L/Cs, what are the differences between open and silent confirmation? When can silent confirmation be adopted?
10. Introduction of various types of Letter of Guarantee (L/G) and Standby L/C, and how they are different from standard L/C.
11. Which kinds of L/C can be adopted to benefit both buyers and sellers in "processing trade"?

Speaker(s) Irene Poon (DBA, MBus, BBus, CMILT, MHKIE, MIPSHK)
Irene is a logistics professional with over 20 years' experience in shipping and letter of credit operation for multi-national companies. Her clients include P&G, Nestle, Cadbury, Philips, General Electric and McDonald's. Irene is a "Certified Logistician Trainer" and a "Certified Trainer of ITC International Purchasing and Supply Management". She is also a member of the Chartered Institute of Logistics and Transport in Hong Kong ("CMILT") and the Hong Kong Institution of Engineers in Logistics and Transport ("MHKIE").
Language Cantonese
Date and Time 2019/06/11 14:30 to 17:30
Venue Chamber Theatre, 22/F United Centre
Media Closed to media
Enquiries Cathy Chan
Tel: 28231282
Email: cathy@chamber.org.hk
Fee Members @ HK$850 / Non-Members @ HK$1,050
+$50 for booking offline
This event accepts Chamber Coupon (terms and conditions)
Members enjoy 30% discount with BOC HKGCC VISA Card
Notes - Bookings are only confirmed upon receipt of payment, on a first come first served basis.
- Booking transfer is allowed for corporate members with advanced notice, walk-ins are normally not accepted.
- The Chamber reserves the right to decline any booking or cancel the event. In such case, a full refund of the participation fee will be issued.
- No refund will be made for last minute cancellations or no-shows. If the booking is cancelled at least 7 days before the event, and in such cases the refund will be subjected to a 10% administration fee, or HK$100 deduction, whichever is higher.
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- Priority is given to corporate members. The decision to accept or decline any booking shall be at sole discretion of the Chamber.