Payment and Finance for International Trade
AT THE END OF THIS SEMESTER,
YOU WILL BE ABLE TO
- The various methods of payment used to support international sales .
- The most frequent payment methods in which banks are involved.
- How payments are made by electronic transfers.
- Statutory and trade regulation of payments supporting international sales.
- International conventions.
Curriculum includes
Unit 1
Bills of exchange
- Overview, sample, role of BOE, roles and responsibility of different parties, Purpose of BOE, Buyer and seller relationship wrt BOE, diff between BOL and BOE
Unit 2
Collection arrangements and the Uniform Rules 1995
- URC as per ICC, purpose of URC, Documents Against Acceptance and Payment, URC 522
Unit 3
Letters of credit and the UCP 600
- Function of LC, procedure involved in LC issuance, Different forms of LC, UCP 500, UCP 600
Unit 4
Countertrade
- Concept of countertrade, exchange system, example of counter trade, Counter trade in Maritime Business, Switch trade, counter trading, compensation trade
Unit 5
Bank guarantees and performance bonds
- Various types of guarantee, financial guarantee, performance guarantee, retention money guarantee etc