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.

Recent News

ICC release Incoterms 2020 11/09/2019

On 10 September, the ICC officially released the new version of Incoterms (to be known as Incoterms 2020)...more

BAFT release guidance paper relating to the use of automatic extension clauses 27/06/2019

BAFT (Bankers Association for Finance and Trade) has released a guidance paper relating to the use of auto-extension clauses in standby letters of credit and demand guarantees...more

Latest Question

I refer to UCP 600 sub-article 7 (c) which indicates that "An issuing bank undertakes to reimburse a nominated bank that honoured or negotiated a complying presentaation ….." My interpretation of this article is the following: If a nominated bank honours or negotiates a complying presentation and duly forwards the documents to the issuing bank, the issuing bank takes the firm commitment to pay the nominated bank even if the seller-beneficiary of the L/C has previously issued an assignment of proceeds in favour of a third party and that this assignment of proceeds has been accepted by the issuing bank and notified to the third party. I would say that in such a situation, the nominated bank has no need to request any assignment of proceeds as there is a direct firm commitment from the issuing bank to pay them. 1) Do you agree with me ? 2) If the beneficiary of the L/C has issued an assignment of proceeds in favour of a third party, and this assignment has been accepted by the issuing bank, will the issuing bank pay this third party whereas it has already paid the nominated bank? (normally according to sib-article 7 (c) "the issuing bank undertaking to reimburse the nominated bank is independent of the issuing bank undertaking to the beneficiary". Let me have your advice. 3) If we consider the same situation, but we suppose that the bank which negotiates or honours a complying presentation is not a nominated bank, then there is no direct undertaking to pay that bank, which means that the bank has every interest to obtain an assignment of proceeds from the beneficiary of the L/C otherwise if an assigment of proceeds has been made by the beneficiary of the L/C in favour of somebody else, the negotiating bank will not be paid by the issuing bank. Do you agree with me?