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Exploring INCOTERMS and Eliminating the Mystique of Letters of Credit. Do Other Options Exist?
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10/12/2016 to 10/13/2016
When: October 12 and 13, 2016
Where: C.H. Robinson
14800 Charlson Road,
Eden Prairie, Minnesota  55437
United States


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Exploring INCOTERMS and Eliminating the Mystique of Letters of Credit. Do Other Options Exist?

Presenter:

Roy Becker, Roy Becker Seminars

Roy Becker is considered one of the leading experts in International Trade and Banking, specializing in the mining industry. He has spent the majority of his corporate career working in the international departments of several major banks. During that time, he worked directly with importers and exporters consulting on the intricate banking needs associated with international trade. Companies, both large and small, hire Roy Becker Seminars to help them reduce risk and improve cash flow for their international transactions.

Roy has served as adjunct faculty in the International MBA programs at the University of Denver and the University of Colorado Denver. He is a frequent speaker and facilitator at workshops and seminars at the World Trade Center Denver. He is a past member of Toastmasters International and earned the Advanced Toastmaster Gold Award.


Location:

C.H. Robinson
14800 Charlson Road,
Eden Prairie, MN 55347


Agenda (Both Days)

7:45 am Registration
8:30 am Program Starts 
Mid-morning Break
12:00 pm Lunch
1:15 pm Program Resumes
Mid-afternoon Break
4:45 pm Adjourn
  

Fees

Student

$40 Each Day

Both Days

Member: $250
Non-Member: $380

One Day

Member: $125
Non-Member: $190


Session Descriptions

Oct 12 Morning Session

Incoterms® 2010


In the Incoterms® sessions, topics covered will include what the international rules are, aren’t, do, and don’t do. Participants will learn the two most common misconceptions about Incoterms® and how to use Incoterms effectively.
During the training, participants will understand that the Incoterms® rules are like tentacles that go through the entire transaction and affect much more than who pays the freight. The choice of an incorrect Incoterm® can adversely affect a number of issues including impeding payment for the goods. Participants will understand how to choose the right Incoterm® for their transactions.
Key Training Takeaways:

 

  • Essential information for sales and purchasing
  • "Delivery" vs "Passage of Title"
  • The effects to cost, risk, and tasks
  • The imperative teamwork needed with payment terms

Ideal for audience: Sales, purchasing, finance, credit, logistics, legal

Oct 12 Afternoon Session

Import Letters of Credit and Standby Letters of Credit

The session starts with the “why.” Why do buyers and sellers agree to use letters of credit when other options exist? Roy believes if people learn the “why,” the “how’ will fall into place.

Once the how is understood, participants will understand the nuts and bolts. The session covers the variations that are available, how to structure a letter of credit to mitigate the risks of sourcing goods from an overseas supplier. The discussion will include how to construct a letter of credit that will work best for both the buyer and the seller. Participants will learn how to work with a bank and tips to reduce the fees.

A portion of this session will include a discussion of Standby Letters of Credit: the purpose and various uses.
Training Key Takeaways:

  • Letter of Credit structure
  • the bank’s payment process
  • how to mitigate risks and improve cash flow
  • how to reduce the cost of Letters of Credit
  • how to utilize a Standby Letter of Credit

Ideal for audience: purchasing, finance, logistics, legal

Oct 13 Morning Session

Export Letters of Credit

Letters of credit are often viewed as mystical and difficult to understand. Best estimates claim that about 70% to 80% of documents presented for payment have “discrepancies” which increases the cost, delays payment and could even result in non-payment. This session will provide information to avoid the discrepancy issues.
The workshop starts with the “why.” Why do buyers and sellers even agree to use letters of credit when other options exist? Roy believes if people learn the “why,” the “how’ will fall into place.
Once the how is understood, participants will understand the nuts and bolts. Topics covered include the variations that are available, how to prepare documents and collect payment, and end with the most important thing – how to construct a letter of credit that will work best for both the buyer and the seller.
Training Key Takeaways:

  • Letter of Credit structure
  • the “Confirmation” process
  • how to create documents free of discrepancies
  • how to reduce the cost of Letters of Credit

Ideal for audience: Sales, credit, finance, logistics, legal

Oct 13 Afternoon Session

Practical Application

This session will allow participants to apply the information from the previous session. It will include exercises to critique actual letters of credit, create a solid quotation, and document preparation.
Training Key Takeaways:

  • Review of letters of credit
  • Understand the bank’s role
  • Understand the importance of a good quotation
  • how to create documents free of discrepancies

Ideal for audience: Sales, purchasing, finance, credit, logistics, legal

 

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