Bank Clients

We offer:-

Training:

The creation of a full suite of trade training materials i.e., handouts, case studies, and/or powerpoint presentations.

A full review, comment and/or re-draft (if necessary) of your existing trade training material.

"Train the Trainer" - specialized training of your in-house training personnel so that they may deliver up to date, relevant and accurate information on the issues, problems and developments in trade finance today.

Documentation:

The drafting, review and/or re-drafting (as necessary) of your legal documentation that support the handling of your trade transactions. It is suggested that this be completed in conjunction with in-house or external legal resources.

Creation and/or development of product guides for all your trade service and trade finance needs. Alternatively, a review of your current documentation, including application forms, with regard to suitability, accuracy, completeness and current applicability.

Consultancy:

General consultancy services tailored to your needs and requirements including, but not limited to, expert witness documentation in the event of actual or planned legal action under a specific transaction(s). Reviewing of transaction structures, acceptability of documentation, commenting on disputes with other parties are just part of our offering.

A facility allowing direct access for up to 10 individuals in a bank (more, if need be, can be catered for) to have direct email access in the event of issues that require an immediate response or assistance for further handling of a transaction. 90% of questions are responded to within 24 hours, the remainder within 48/72 hours. Annual consultancy contracts are not as expensive as you may think!

UCP 600:

Although UCP 600 came into force on 1 July 2007 there are still considerable demands for training and seminars in respect of the ongoing interpretation and practical application of the rules. As Chair of the UCP 600 and ISBP 745 Drafting Groups, Gary is perfectly placed to provide the definitive training material for use by your bank - either internally for staff, or, externally, for your client training and events. Providing your staff with the proper training is crucial to the correct handling of transactions. Agreements can be made whereby Gary could be available for bank sponsored ‘UCP 600' or trade services events to increase your profile on a local and/or international basis. Gary was recently the co-chair of the eUCP Drafting Group that created version 2.0 of these rules. eUCP 2.0 came into effect on 1 July 2019.

Other training courses available:

Training courses can be developed on a standard or bespoke basis. Courses can be established with an assessment included to gauge the level of learning or knowledge of attendees. Webinars can also be developed on any subject.

Pricing for these services will vary upon the degree and type of service(s) requested. Further details can be obtained by contacting us at one of the methods shown on the contacts page.

Latest Question

Our client will open a letter of credit for the import of goods (spare parts). Payment terms will be 90 days after bill of lading date provided that our customer will check the goods whether they are in good order and condition prior to proceeding with the payment, either for the full amount/part of the amount/or not to proceed with payment at all if the goods are not found to be in good order and condition. Please let us have your opinion on the below 2 questions, and on the wording of the clauses which will be added under Additional Conditions of the L/C in order to secure our customer concerning the payment of the L/C: Question 1: The confirming letter which will be presented by the applicant to us (Issuing Bank), whether it should be requested under the DOCUMENTS REQUIRED Field 46A of the credit OR whether it should be considered as a special term that concerns only the payment and should be requested under Additional Conditions of the credit as follows: PAYMENT WILL ONLY BE EFFECTED AT MATURITY (90 DAYS AFTER BILL OF LADING DATE) SUBJECT TO FULFILMENT OF POINTS 1 AND 2 BELOW: 1. UPON PRESENTATION OF COMPLIANT DOCUMENTS AT OUR COUNTERS AND DELIVERY TO APPLICANTS TO CLEAR GOODS FROM CUSTOMS; 2. UPON PRESENTATION BY ΤΗΕ APPLICANT (DIRECTLY TO THE ISSUING BANK) OF A WRITTEN LETTER CONFIRMING, EITHER: (A) THAT THE GOODS RECEIVED ARE IN GOOD ORDER AND CONDITION AND THE ISSUING BANK SHALL PROCEED WITH PAYMENT OF THE FULL INVOICE VALUE AS PRESENTED OR (B) THAT ONLY PART OF THE GOODS RECEIVED ARE IN GOOD ORDER AND CONDITION AND CLEARLY STATING THE AMOUNT TO BE PAID UNDER THE LETTER OF CREDIT, IN FULL SETTLEMENT OF THE LETTER OF CREDIT (WITHOUT FURTHER BENEFICIARY'S CONSENT) AND IRRESPECTIVE OF THE INITIAL VALUE OF THE INVOICE PRESENTED. THE PAYMENT SHALL BE CONSIDERED CONCLUSIVE ON BOTH PARTIES (APPLICANT AND BENEFICIARY) AND ISSUING AND NOMINATED BANK OR (C) GOODS RECEIVED ARE NOT IN GOOD ORDER AND CONDITION AND CLEARLY STATING THAT APPLICANT REJECTS PAYMENT OF ANY AMOUNT UNDER THE LETTER OF CREDIT, WITHOUT THE NEED OF BENEFICIARY'S CONSENT AND IRRESPECTIVE OF THE INITIAL VALUE OF THE INVOICE PRESENTED. THE DOCUMENTS SHALL BE CONSIDERED CONCLUSIVE ON BOTH PARTIES (APPLICANT AND BENEFICIARY) AND ISSUING AND NOMINATED BANK. THE WRITTEN LETTER MAY BE PRESENTED AFTER THE EXPIRY DATE OF THE LETTER OF CREDIT BUT NOT LATER THAN 85 DAYS FROM BILL OF LADING DATE. Question 2: Please clarify whether the above document should be presented within the validity of the L/C (i.e., Shipment date + Presentation Period) or whether it can be presented after the expiry of the L/C (e.g., 85 days after the bill of lading date).