“Supply Chain is like nature, it is all around us.” - Dave Waters
BSC-105 Payment Methods in International Trade
Schedule and Hours
Let's imagine you're about to start a new adventure in global trade. It's exciting, but there are some tricky parts to navigate. One big challenge is figuring out how to pay and get paid when you're dealing with people from all over the world. Choosing the right payment method can be a bit like solving a puzzle. You don't want to make a mistake that could cost you money. And then, there are all these rules and regulations that can be confusing, like a fog that makes it hard to see where you're going. Letters of Credit might seem like a secret code, and even a small mistake can cause big problems. Paying in advance might seem safe, but it can make your partners worry about trusting you. Open accounts give you flexibility but can be tricky to manage. Consignment and document collections can be like exploring uncharted territory without a map.
This course provides you with a passport to navigate the intricate world of international trade. Picture it as your seasoned guide, ready to accompany you on a remarkable journey. Embarking on global trade can be akin to venturing into uncharted waters, brimming with potential but also laden with complexities. This course acts as your compass, ensuring you steer clear of pitfalls and confidently chart your course through this expansive terrain. Understanding how to make payments and receive them in international trade is like uncovering hidden treasures. I'll demystify payment methods such as Letters of Credit, cash in advance, and open accounts, transforming them from cryptic codes into clear, accessible knowledge. Consignment and documentary collections may appear as intricate mazes initially, but with my guidance, you'll receive a detailed map to navigate them with assurance. Upon completing this course, you'll possess the knowledge and skills needed to embark on your international trade expedition with unwavering confidence, transforming it into a successful and gratifying adventure.
At the end of this course, participants shall be able to:
Demonstrate a comprehensive understanding of various international payment methods, including their features, functions, and applications.
Analyze, assess, and effectively manage currency, credit, and documentation risks associated with international trade transactions across different payment methods.
Implement informed decisions regarding the selection of international payment methods, considering factors like cost-efficiency, risk mitigation, and suitability for specific trade scenarios.
Navigate the legal and regulatory complexities of international payments, ensuring compliance with international trade laws and regulations to prevent fraud and disputes.
Apply effectively the theoretical knowledge in practical international trade scenarios through active participation in group discussions, fostering problem-solving skills and informed decision-making.
Introduction to International Payment Methods
Letter of Credit (LC)
Cash In Advance (CIA)
This course is designed for
International Trade Managers
Finance and Accounting Managers
Export and Import Specialists
Supply Chain Managers
Banking and Financial Analysts
Small Business Owners
Logistics and Freight Forwarding Professionals
Customs and Trade Compliance Specialists
Risk Management Professionals
Sales and Marketing Executives
Government Trade Officials
Consultants and Advisors
This is a 2-days programme. This course runs from 9:00am – 5:00pm with an hour for lunch and periodic short breaks.
This is an intensive session designed to include as much discussion as possible. Lunch and breaks provide an opportunity for further questioning and discussion with the instructors.
We are HRD Corp (Human Resource Development Corporation) Registered Training Provider. All of our training modules are claimable under HRD Corp.