On-Line Training

On-Line Training Service

Gary Collyer (Collyer Consulting Global Ltd) and David Meynell (TradeLC Advisory) are pleased to bring to your attention the official launch of a brand new on-line trade finance training facility.

In our worldwide travels, it has become increasingly apparent that banks and trainees have been looking for a more focused, flexible and, more importantly, reasonably priced approach to training.

To meet these goals, Gary and Dave have spent considerable time designing, structuring and commissioning a bespoke training platform, with the sole aim of providing a new and exciting concept in the delivery of on-line training.

Our training modules break new ground by being designed to be mainly of 60-90 minutes duration. This means each module is highly focused on a specific topic or aspect of a trade finance product. As a result, only the applicable modules need be purchased when a gap in the knowledge base of an individual has been identified. No more buying a complete package to obtain the segment that is required.

This kind of timeframe also allows trainees to undertake the training at a time that is convenient to them and their organisation e.g., before work, at lunchtime, or after work, in fact during any spare time. Training can commence on, for example, a PC and be completed on an iPad (or vice-versa).

The current exception to the 60-90 minute modules are those covering ‘Financial Crime, Fraud and Sanctions' which lasts approximately 2 hours and ‘Applying International Standard Banking Practice' which consists of 12 modules, although each module is of 60-90 minutes duration.

Our training platform provides trainees with access to modules covering a multitude of topics, ranging from those that are relative to the role currently being performed, to those relating to a role to which an individual may transition in the future, or topics that are purely of general interest.

Our CDCS ® and CITF ® modules are designed to supplement the information contained in the syllabus books that are provided by ifs and BAFT as part of the enrolment to the respective examination.

A further feature of our on-line training is an assessment that is linked to each topic. The assessment can be taken a number of times, as decided by the organisation. Our default is 3 times. The assessment can be timed, be subject to a pass mark, and be subject to being taken in one sitting. The CDCS ® and CITF ® assessments follow the same structure as the actual examination.

Apart from the CDCS ® and CITF ® modules, PDU's will be awarded for the completion of each topic on the basis of 1 per hour of tuition. Please note that an assessment cannot be purchased without the module to which it relates.

The modules are written exclusively by Gary and Dave, based on their extensive involvement in the development of rules and practices relating to all the topics that are covered.

Recognising that organisational and personal training budgets are not bottomless, the pricing is set at what we believe to be the lowest on the market. Most modules are priced at £25 or less, and assessments priced likewise, with discounted pricing for volume purchases of modules and assessments. We believe that our offering provides the perfect balance between quality and cost that organisations and individuals have been seeking.

It is worth mentioning that this is not just a simple platform for viewing training material. The website is also an information channel with latest news items, copies of documents and informative articles plus a vehicle for trainees to post any question that they may have, not just those that may relate to the module(s) purchased in their name. Trainees also have access to questions posed by other trainees, all of which are posted anonymously.

An exciting feature of our platform is that we can offer organisations a service offered by no other on-line training provider - bespoke modules. These will be of similar duration, and will be available at the same pricing as our standard modules! With our offering, there is no concept of "one size fits all". We are totally dedicated to meeting the individual needs of each and every organisation. The bespoke modules can be specific to a particular organisation (you provide the outline and scope, and we provide the content) or it may simply be an amalgamation of some aspects of our existing modules. Any bespoke modules will remain exclusively for that organisation and the trainees that are signed up in their name.

This platform is now available at www.tradefinance.training and is compatible with Internet Explorer version 7 and above, and browsers such as Chrome, Firefox or Safari.

We hope that this new initiative will be of interest to you and we look forward to working with you. In the meantime, please find below a link to a brochure that gives a more in-depth overview of the website and the training we are offering.



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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?