On-Line Training

On-Line Training Service - www.tradefinance.training

Gary Collyer (Collyer Consulting Global Ltd) and David Meynell (TradeLC Advisory) are pleased to bring to your attention our on-line trade finance training facility.

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

To meet these goals, Gary and Dave 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 broke 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 appropriate 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).

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 that will relate 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 LIBF and BAFT as part of the enrolment to the respective examination. Our CITF modules have been updated to reflect the new syllabus publication that accompanies the examination from 2019.

A further feature of our on-line training is an assessment that is available for most topics. The assessment can be taken a number of times, as decided by the organisation. Our default is 3 attempts. The assessment can be timed, is subject to a default pass mark (70%), and can be subject to being taken in a single sitting. The CDCS ® and CITF ® multiple-choice assessments follow the same structure as the actual examination.

For most of the modules, CPD's will be earned 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 purchase of at least one 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 the training budgets of organisations and individuals 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 (ncluding blogs) 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 can be of similar duration, and 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. 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 available at www.tradefinance.training and is compatible with browsers such as Chrome, Firefox or Safari.

We hope that this offering will be of interest to you and 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

Our bank, on behalf of the beneficiary, and acting in the capacity of presenting bank, remitted documents drawn under a documentary credit to the counters of the confirming bank (said documentary remittance being subject to UCP 600). The confirming bank refused the documents citing discrepancies. Their advice of refusal stated the disposal documents to be HOLD. We reverted, instructing them to remit the documents to the issuing bank, subject to UCP 600. The confirming bank acknowledged receipt of our instructions, sending us a FIN MT799, reproduced below. Quote BILL AMT : USD XXX THE ITEM DESCRIBED HEREIN IS FOR YOUR ACCOUNT. PLEASE TAKE NOTE OF OUR INSTRUCTIONS BELOW APPLICANT: A BENEFICIARY: B WE ACKNOWLEDGE RECEIPT OF THE ABOVE-MENTIONED PRESENTATION. AS PER YOUR INSTRUCTIONS WE HAVE FORWARDED THE DOCUMENTS TO THE ISSUING BANK. AFTER RECEIPT OF FURTHER INSTRUCTIONS FROM THE ISSUING BANK, THE MATTER OF SETTLEMENT WILL RECEIVE OUR FURTHER CONSIDERATION. WE USE GREAT CARE IN SELECTING OUR FOREIGN CORRESPONDENTS AND PREFER TO PUT OUR FOREIGN COLLECTIONS THROUGH THEM. IN THE EVENT YOU DESIGNATE A CORRESPONDENT OTHER THAN THE ONE OF OUR OWN SELECTION, WE SHALL FOLLOW YOUR INSTRUCTIONS UPON THE EXPLICIT UNDERSTANDING THAT YOU ASSUME AND CONFIRM ALL THE ACTS OF SUCH CORRESPONDENT OF YOUR OWN CHOOSING AND AGREE TO HOLD US HARMLESS FROM ALL CONSEQUENCES THEREOF. EXCEPT AS OTHERWISE PROVIDED HEREIN, THIS DOCUMENTARY REMITTANCE IS SUBJECT TO THE ICC'S UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (VERSION IN FORCE ON THE DATE OF ISSUANCE OF THIS L/C). Unquote My understanding is that the documents have been remitted by the confirming bank direct to the issuing bank, as opposed to using an intermediary (collecting bank/agent). Is that correct? It may be the case that the confirming bank is trying to tell us that they will route the proceeds / payment to us by using the services of foreign correspondent banks and so the message acts as a type of legal disclaimer i.e., that they are not liable or responsible for any failures or omissions on the part of these correspondent banks. Is my interpretation correct? Is this message for informational purposes only or do we need to take any action / reply to safeguard the interests of our bank and our client (L/C beneficiary)? Please note that in our remittance letter we provided them with settlement instructions / USD nostro correspondent bank details. I trust in the event the issuing bank elects to honour the presentation the confirming bank will arrange for net proceeds to be credited to the nostro account we maintain with our USD correspondent. Please let me know if you believe I have in any way misunderstood or misinterpreted their message. If I have misunderstood, please could you outline for me what the confirming bank is trying to tell us. This is the first time I have come across something like this and I am wondering if it is usual nowadays for certain foreign banks to issue messages with such wording.