Case Studies on
We are now already in an IT (Information Technology) era. Compared with the last decade, traders today are much more knowledgeable on the sophisticated trading techniques, such as transport, insurance, trade law and conventions. In a down market, parties may exploit on the grey areas of the international trade rules to deny obligations. As a result, international trade disputes increase at an alarming rate. Sine 1994, there are many new rules being introduced by the ICC in international trade finance, such as the UCP 500 for documentary credits, the URC 522 for documentary collections, the URR 525 for bank-to-bank reimbursements and the DOCDEX for resolving L/C disputes. Despite efforts by ICC to make these rules clear to parties using them, there are still a lot of different interpretations on the same article of these rules, creating more disputes. Some of these disputes end up with the courts of law, which give judgements solely based on rigid legal interpretations, not adhering to the time tested trade customs and practice, The "Glencore" case of U.K. on "originals" is a typical example.
As a banker, in order to play your part well, you have to learn from famous court cases as well as from the course leader's private cases selected carefully from his consultancy file. These case studies offer the best opportunity to learn in depth the underlying principles attached to the articles in these new ICC rules and their implications. Only then you can be ascertained of your own position in a dispute and make the right decision for your bank.
- To identify the incorrect concepts spreading in the market place like an epidemic.
- To grasp the underlying principles attached to the articles in these new ICC Rules.
- To be aware of the grey areas in the new ICC Rules.
- To know your own position in a dispute and make the right move to protect your bank's interests.
- To be aware of the many options before you when involved in a dispute.
- To understand the factors leading to trade disputes and stay clear of them.
- To provide better counsel and support to your bank's customers on their queries.
Part I Case Studies on the UCP 500 Rules
- Must description of the goods in commercial invoices be "mirror image" of the L/C description?
- In determination of discrepancies, should decision be based on the title of the document or its data contents?
- The scope of flexibility on "non-documentary conditions".
- May data contents in a document not being required under the terms and conditions of the L/C be determined as discrepancies?
- Under which condition may the issuing date of a document be earlier than the issuing date of the L/C?
- Under which condition may the issuing date of a certificate of inspection be later than the "shipped on board" date?
- Under which condition may a certificate of insurance be issued later than the "shipped on board" date?
- May a document examiner, in determination of discrepancies, find out the fact to help him clarify his doubts?
- What is the latest trend towards the interpretation of the Estoppel Rule?
- Under which specific condition a bank may dishonour relying on frauds?
- And many more.
Part II Case Studies on Bank-to-Bank Reimbursements under the URR 525 Rules
- To whom should the certificate of compliance be addressed and presented to?
- The troubles from the expiry dates of the reimbursement authorization and the L/C.
- Disputes over interest claims.
Part III Case Studies on Documentary Collections under the URC 522 Rules
- Enforceability of "Case-of-Need" instructions.
- The risk brought by certain local legislations to D/P transactions.
- Risks a bank may be exposed to by unauthorized consignment of the goods to the order of the bank.
Part IV Case Studies on the ICC Disputes Resolution under the DOCDEX Rules
- The unknown risks of a DOCDEX Decision.
- The success factors of the Request and the Answer.
- The dangers of decision by default.
- An interactive approach to stimulate active participation from the audience.
- Cases studies and famous legal cases to be used extensively.
- Learn from others' very costly mistakes without paying a dear price for them.
- Key issues explained in an easy-to-understand story approach.
- The lecturer is famous for his "4i's" (inspiring, insightful, interesting & interactive) besides being pragmatic, problem-solving oriented and authoritative.
- All handouts are written specifically for easy reference in the future.
International Trade Finance Officers and Managers in Banks Risk Management Managers in Banks Legal Counsel in Banks
Mr. T. O. Lee, FAE, MCIArb, MITD
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