Important Changes and Impacts of UCP 600

(T. O. International Trade Seminars)

Introduction
UCP500 will be replaced by UCP 600 from 1st July 2007. This workshop highlights the important changes, giving background, reasons, evolution and full details of such changes, through many years of involvement of Mr T O Lee, the speaker, as a Member of the UCP 500 Revision Consulting Group representing Canada. The implications and risks arising from these changes to bankers, importers, exporters, carriers, freight forwarders and insurers will be analyzed in details. The handouts include recommended new templates and wordings to match these new provisions and to help the professions listed above to reduce discrepancies and disputes. Besides being elected as one of the world's 9 best letter of credit experts, Mr Lee is also familiar with air, surface and maritime transport, charter parties, commodity trade, cargo insurance, Incoterms, trade frauds, China trade, precedent cases, common law and civil law perspectives related to letter of credit. All these make this workshop value-added and unique in its wide scope of coverage.
Contents Outline

Background, reasons & evolution of UCP 500 revision.
Objectives of UCP 600.
The main guiding principles in UCP 600.
New approaches and features in UCP 600.
The important changes in UCP 600.
Impacts of such changes on bankers, traders, carriers, freight forwarders and insurers.
Recommended changes in templates, wordings in documentation for banks, applicants and beneficiaries.
The position of ISBP 645 and eUCP after the implementation of UCP 600.
Comments, evaluation and projections on UCP 600.

Speaker
Mr. T. O. Lee
FAE, MCIArb, MITD
Mr. T. O. Lee is a Member of the UCP 600 Consulting Group providing comments and recommendations in UCP 500 revision. He is appointed by ICC Paris as an ICC DOCDEX Expert to adjudicate on letter of credit disputes. Besides being elected as one of the 9 best letter of credit experts in the world in a global survey in 2006, he is also a Fellow and an Accredited Expert (Letter of Credit) of the Academy of Experts, Gray's Inn, London, Member of United Nations International Multimodal Transport Association, Geneva, columnist in Lloyd's of London "Maritime Asia/Intermodal Asia" and "Hong Kong Economic Journal". He is also an editor of ICC "Documentary Credit Insight" in France, "L/C Monitor" in Canada and Technical Adviser of "L/C Views" in USA. Details of his articles, highlights of cases resolved and CDCS case studies can be viewed from his website: www.tolee.com.

What Others Have To Say

"I appreciate Mr. T. O. Lee's LC training methodology. He teaches what U.A.E. needs to learn."
Zahoor Dattu - Head of Trade Finance, Abu Dhabi Commercial Bank, Dubai, U.A.E.
"A brief discussion with Mr. Lee will convince you of his expertise on International Trade particularly for his knowledge and experience in maritime chartering, multimodal transport, marine cargo insurance, trade frauds, the China Trade, mediation and arbitration".
Charles del Busto - Chairman of ICC Banking Commission (1990-1996)
"Mr. Lee's presentation is thought provoking and original in its content. It brings to light not only problems with documentary credits but also solutions that you could obtain only from practical experience working in the field. I highly recommend it to both bankers and traders who are serious about letters of credit".
Jacob Katsman - Managing Editor, LC Monitor, Canada
"Most comprehensive information in the handouts, inspiring presentation, professional in every respect, introducing the latest international trade fraud cases with in-depth analysis".
S. C. Kwok - Vice President, Citibank, Hong Kong
"Clear and focused line of thoughts, lively presentation, experienced in handling questions, lots of case studies from the speaker's own work file to be shared with us".
Ding Bo - Director, Zhum Heng Development Ltd., Guangdong Group, Hong Kong

"Handouts are clear, concise and focused, with lots of real life cases to reflect the current trading environment and the important changes in the market place".
Kenneth Y. M. Lee - Senior Consultant, Bank of Communications, Manhattan, New York, USA

Duration
One-day workshop

(905) 237-6465

(905) 237-6867