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.

Brochure.pdf

 

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Latest Question

Could you advise us if the invoice was compliant or not for the following Oil LC case: Field 45A:  PRICE IN US DOLLARS PER U.S. BARREL IS THE ARITHMETIC AVERAGE OF THE MEAN QUOTATION FOR SING GASOIL 0.05PCT SULFUR (AAFEX00), AS PUBLISHED BY PLATTS ASIA-PACIFIC/ARAB GULF MARKETSCAN UNDER THE HEADING ASIA PRODUCTS/ FOB SINGAPORE, PLUS US DOLLARS 2.380 PER U.S BARREL EFFECTIVE FOR THE NOMINATION DATE (NOMINATION DATE EQUAL TO DAY ONE). IF THE NOMINATION DATE IS A SATURDAY, SUNDAY OR A WEEKDAY HOLIDAY FOR WHICH THERE IS NO QUOTATION PUBLISHED THEN THE ONE PUBLISHED QUOTATION IMMEDIATELY BEFORE THE NOMINATION DATE SHALL APPLY. ALWAYS ONE PUBLISHED QUOTATION SHALL APPLY. IF THERE IS ANY PUBLISHED CORRECTION TO THE RELEVANT QUOTATION, IT SHALL BE TAKEN INTO ACCOUNT. THE BUYER SHALL HAVE THE OPTION TO TRIGGER PRICING FROM 1 DAY AFTER LC ISSUANCE TILL 35 DAYS AFTER B/L. THE APPLICABLE QUANTITY AND PRICING DATE SHALL BE NOMINATED BY BUYER BEFORE 1200HRS SINGAPORE TIME ON THE PRICING DAY. THE NOMINATED QUANTITY MUST BE AT LEAST 20KB AND BUYER CAN NOMINATE MORE THAN ONE TIME PER DAY. ALL UN-NOMINATED QUANTITY SHALL BE PRICED OFF ON THE LAST PRICING DAY. THE FINAL PRICE SHALL BE CALCULATED TO THREE DECIMAL PLACES Field 47A: IN THE EVENT THAT THE FINAL UNIT PRICE IS NOT KNOWN AT THE TIME OF INVOICING, THE BENEFICIARY SHALL ISSUE AND THE APPLICANT SHALL MAKE PAYMENT AGAINST A PROVISIONAL INVOICE. THE PROVISIONAL INVOICE SHALL, UNLESS OTHERWISE AGREED BETWEEN THE PARTIES, BE CALCULATED IN ACCORDANCE WITH THE ABOVE PRICE CLAUSE, BASIS ALL AVAILABLE QUOTATIONS KNOWN AT THE TIME OF INVOICING. ONCE THE FINAL UNIT PRICE IS KNOWN, THE SETTLEMENT FOR THE DIFFERENTIAL AMOUNT BETWEEN THE FINAL INVOICE AND THE PROVISIONAL INVOICE WILL BE MADE AS FOLLOWS: + IN THE EVENT THAT THE PROVISIONAL INVOICE AMOUNT IS LESS THAN THE FINAL INVOICE AMOUNT, THE BENEFICIARY WILL ISSUE AND PRESENT THE FINAL INVOICE BASED ON THE PRICE CLAUSE UNDER THE DOCUMENTARY CREDIT ALONG WITH ALL PHOTOCOPIES OF THE RELEVANT PROVISIONAL INVOICE PRESENTED WITHIN THE LC VALIDITY AND THAT DIFFERENTIAL AMOUNT WILL BE SETTLED WITHIN THIS LETTER OF CREDIT ON MATURITY DATE OR AT SIGHT, WHICHEVER IS LATER. The presented invoice only showed the price without indicating the details as per Field 45A, especially not including the phrase: “Invoicing based on the price clause under the documentary credit” - as underlined above. Is it acceptable?