Corporate Clients

Why choose Collyer Consulting Global Ltd?

Gary Collyer has over 40 years of experience in handling trade finance transactions, including documentary credits, guarantees and collections. His role as Technical Adviser, and Senior Technical Adviser, to the International Chamber of Commerce (ICC) Banking Commission has made him a focal point for the receipt of all up-to-date information and changes in industry practices. In addition, he was the chair of the Drafting Group responsible for the drafting of UCP 600 and can provide the "inside track" on how the rules should be used and applied by banks and companies alike. He was chair of the Drafting Groups for the development of the URBPO (rules for Bank Payment Obligations) and the revision of ISBP (publication 745), that were both approved in April 2013. More recently, he was co-chair of the Drafting Groups for the revision of eUCP and the development of eURC. Both eUCP version 2.0 and eURC version 1.0 were implemented on 1 July 2019. He is currently an adviser to the Drafting Group for the development of the Uniform Rules for Digital Trade Transactions (URDTT).

Gary remains at the forefront of what is happening on the trade finance world.

Training

Training can be completed remotely or on-site and tailored to the specific needs of the requesting institution. The sessions can vary from a half day to one day or more, depending on individual requirements. A full back up service is provided once the training is finished, for any final questions that arise once the training is concluded. Webinars can also be developed on a general or bespoke basis.

Documentation:

Simple intuitive guides to walk your staff through a transaction from start to finish. What to look for? What to do if there is a problem? How to prepare documents for presentation under a documentary credit? What should I know in the UCP?

Regular updates on documentary credit, collection, guarantee and other trade finance products.

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).

A facility allowing direct access for up to 10 individuals of your institution (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 responded to within 24 hours, the remainder within 48/72 hours.

Annual consultancy contracts are not as expensive as you may think! 

Documentary Credit review:

One of the most important aspects of handling documentary credits is the review of the credit itself (and any subsequent amendments) to highlight any anomalies or areas where there may be possible contention or opportunity for differing interpretation. We can provide a full service to review a scanned version of each documentary credit (and any subsequent amendments). We will send a simple report back to you indicating issues such as non-documentary conditions that may be ignored; conditions for which special or particular wording will be required to appear on your documents; and areas where the wording or conditions may benefit from an amendment.

A review can also be made against any contract or proforma invoice upon which the documentary credit has been (or will be) established.

Examination of documents:

The global rate for discrepant documents on first presentations is currently quoted to be in excess of 60%. Whilst the vast majority of these transactions are ultimately accepted and paid, there are still losses for companies in terms of additional man hours spent resolving the problems; costs in obtaining replacement or corrected documents to resolve the discrepancies; additional bank fees in respect of discrepancy charges; and loss of interest due to delay in receiving payment. We can offer a service whereby we will provide a full review of those documents prior to presentation to the bank. Some discrepancies may not be capable of being corrected i.e., shipment effected after the latest shipment date etc. but we can, through our review, help alleviate the discrepancies that are in your control. Examination of documents will be subject to a satisfactory review of your requirements and the completion of a signed agreement between the Company and Collyer Consulting Global Ltd.

Pricing:

Pricing 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

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This newsletter covers the 6 opinions that were approved by the ICC Banking Commission on 21 October...more

Latest Question

1/ According to the Guarantee, the Guarantee is governed by the URDG and the law of Italy. The guarantee document does not specify the exact content of the Demand Document when claiming the payment. In this case, does the content in the guarantee exclude the provision of sub-article 15 (a) in the URDG? Or does the Demand Document still need to comply with the requirements of sub-article 15 (a) of the URDG when claiming payment (e.g., indicating in what respect the applicant is in breach of its obligations under the underlying relationship)? 2/ Regarding this clause: 'against your first written demand and this notwithstanding any objection of whatever nature by ABCDE Mechanical Construction Joint Stock Company or any third party and without necessity of any legal or judicial proceedings', if there is a court order to suspend the payment, is the Guarantor allowed to stop the payment and comply with such order? /QUOTED/ FORM OF BANK GUARANTEE FOR ADVANCE PAYMENTS We, XYZ bank, with main office in [address] guarantee to you on behalf of ABCDE Mechanical Construction Joint Stock Company for the amount of USD 783,848.75 (In words: Seven hundred eighty-three thousand, eight hundred forty-eight dollars and seventy-five cents). This bank guarantee comes into force only after the receipt by the Guarantor of USD 783,848.75 (In words: Seven hundred eighty-three thousand, eight hundred forty-eight dollars and seventy-five cents). for further credit to the applicant’s account no. 12345678 (USD Account) with the Guarantor, provided such remittance identifies this guarantee no. (insert when issue officially) and the contract no. xyz and valid for the whole amount until 06/15/2027 Demand(s) for payment and document under this guarantee must be made in English and quote this guarantee number and submitted in paper by the beneficiary's bank in one lot by courier to our counter at above mentioned address (attention: [name]) on or before the expiry date. This Guarantee is governed by/subject to the latest version of Uniform rules for Demand guarantee (URDG), ICC Publication but to the extent the practices make no provision for the matter in question, this Guarantee is governed by/subject to the laws of Italy. /UNQUOTE/