Newsletter containing International Trade related articles and events. Signup at http://www.ebsi.ie and get more info on our online international trade courses.
? INCOTERMS 2010 .................................................1
ISSUE 5 Oct`.
? DOC CREDIT CLINIC ...............................................3
? CAREERS IN EXPORTING - TRADE FINANCE .............5
? WEBLINKS FOR EXPORTERS ...................................6
? IFC FIT PROGRAM LAUNCH EAST AFRICA................7
? HIRING EXPORT SALES AGENTS .............................9
? CHINA SYSTEMS UPDATE .......................................11
? FINANCING OPTIONS FOR EXPORTERS ....................12
? NOTATIONS & MULTIMODAL TRANSPORT DOCS .......14
? RECENT EVENTS ...................................................16
Date for Diary!
ICC BANKING COMMISSION IN FLORIDA
?THE FUTURE OF TRADE FINANCE?
LC Management in
Orlando 22 and 23 September 2010
The recent ICC Banking Commission meeting was held in
Dubai 28 November
Orlando USA on 22 and 23 September 2010. This meeting
was the final meeting chaired by Ms. Regina Prehofer with this
Practical - Cases- Legal
important position passing to Kah Chye Tan, Global Head of
Corporate Cash and Trade, Standard Chartered Bank.
See page 4
The meeting had as it?s theme ?The Future of Trade
Finance? and was one of the best attended meetings in the Now!!!
long history of the ICC Banking Commission.
This meeting was geared towards practical issues affecting
trade. The achievements of the The ICC-ADB Register on
Trade & Finance were discussed. There was a very interactive
session as usual on the Draft Official Opinions of the
27 September 2010
The new Incoterms® rules
are key commercial terms
setting out the responsibilities
of sellers and buyers for
the delivery of goods under
sales contracts for both
domestic and international
The latest version with
Vincent O?Brien, ICC Representative to the WTO on the panel with
Jean-Pierre Chauffour, Lead Economist, World Bank and 11 key rules become effective
Steven Beck, Head, Trade Finance, Asian Development Bank.
globally on 01 January 2011
The panel exploring the role of multilateral development banks
Are you ready?
as engines of growth, including participation from the World
Bank, EBRD, ADB, IADB and the IFC, heightened the
EXW - FCA - CPT - CIP ? DAT ? DAP ? DDP
awareness of the critical supports provided by the
FAS ? FOB ? CFR - CIF
development banks trade facilitation programs to the poorest
countries during times of crisis.
For further information: Visit www.incoterms.com
A highlight of the event was a focused discussion on the SWIFT Incoterms
is a registered trademark of the International Chamber of
BPO led by David Hennah (SWIFT) with practical inputs and
examples from Neil Chantry (HSBC) and Xiong Yuanmeng
(Bank of China).
The last but by no means least presentation involved Vincent
O?Brien updating the audience on the progress of the ICC?s
Market Intelligence Working Group (MIG), whose latest
research document ?Rethinking Trade Finance 2010? has
received widespread acclaim from around the World.
EBSI EXPORT ACADEMY
News & Commentary
The ITS Accreditation.
Why I want you to become
Name: Jevgenia Zotova
Position: ITS Coordinator
an International Trade Specialist?
of eBSI Employer: eBSI
Location: Tallinn Estonia
Tradebrief ! If I was to say that I have always been interested in
Specialisation: Support Learning Services
international trade that would be uq ite an untruth
? in fact , it would be a downright lie !
Thankfully some normality has
returned to the trade finance
For me , international trade conjures up images of mountains of paperwork , bureaucracy , paying
markets with world trade and
money for services that I dont? understand and dealing with n" itty-gritty " problems each day.
in turn trade finance in a
So to be fair and honest , the words i" nternational trade" do very little for my energy or motivation.
recovery mode. Soundings at
the recent ICC Banking
However , I have always been interested in pl aces , knowledge , friendship and the spark that
Commission meeting in
comes from interacting with ecx iting intelligent people with different cultural and professional
Orlando were encouraging
with the main players in trade
? people who are willing to learn , people who are willing to share.
finance reporting significant
People , places , knowledge , interaction , intelligenc e , learning , sharing and of course ecx itement ?
increases in activity.
that is what the ITS Accreditation is all about. Sure , we learn about documents , procedures,
In this edition we have
rules and regulations but these are like stepping stones on a career path of professional
interesting contributions from
more than 10 countries and
As Programme Coordinator for the ITS Accreditation it almost goes without saying that I will be
coverage of eBSI activities in
positively biased toward the programme ? but maybe this positive bias is uj stified.
more than 20 countries.
One of the very best ITS graduates , Mr. Diarmaid Ke lleher sent me a bright and cheerful email
Our usual clinic item deals
after his graduation. ?Jenya, the great results achieved in the ITS Accreditation are a
with the touchy issue of
reflection of the high standard of tuition provided by eBSI and I greatly appreciate the
signing bills of lading and the
practical assistance I have received in the course of my studies.?
pages are packed with
relevant and practical advice Now, that is the kind of email a body needs for a bright start to the day on a cold , wet and windy
morning , when all you hear on the radio is doom and gloom and financial crisis.
Enoj y reading.
For me , it is important to help people learn , de velop and advance towards achieving their personal
ambitions but I also believe any programme to which a person is willing to dedicate a year of their
life should lead to tangible and measurable benefits. How pleasing it is when participants provide
positive feedback that demonstrates the benefits achieved.
Such a message also came from Mr. Tom Grace , who oj ined the ITS Accreditation as a materials planner in a medium siez d company in
Ireland. ?Jenya, I express my sincere thanks and appreciation for eBSI support during the ITS Accreditation, the course itself was
excellent and the recognition of the ITS Accreditation has had a positive and direct impact on my career.? Tom advanced his career
and is now a Foreign Trade Specialist in a maoj r multinational comp any in Ireland and has continued to share his knowledge and help other
ITS students through the lifetime access to the course related discussion forums that he and all graduates of the ITS Accreditation enoj y.
Yes , that is the kind of communication that advances your day ah ead in the most positive manner ? now one is ready for any chal lenge or
The most interesting part of the ITS for me is the international dimension. You may have guessed that with a surname like "Zotova" that I am
not from Ireland , though eBSI or iginated in Ireland. I am from Estonia and part of the international eBSI support team. When I realise that we
have tutors or advisors from more than 20 countries and participants from more than 50 countries it makes me feel good to be part of a
growing positive force in international trade and finance.
As I write , our First Director , Mr. Vincent O?Brien is in Kyrgy sz tan on a business trip and yes we do have students as far away as Kyrgyzstan
and even in Outer Mongolia. I am sure Vincent will send us a technical trade video broadcast from Bishkek , the capital of Ky rgyzstan which
will be posted on the front page of www.ebsi.ie
How wonderful it was to hear from our graduate Ms Olga Abikh one late afternoon ; Olga is a Trade Finance officer with a bank in Kyrgyzstan.
?Jenya, the ITS Accreditation Programme was a golden opportunity to learn about International Trade. Communicating with eBSI
tutors and the possibility to share opinions with fellow students meant that I really enjoyed and benefited from the learning
With a message like that and others that you will see on our testimonials page , I think I can say that my daily work brings me great satisfaction
and what could possibly have been better to end another ecx iting day at the eBSI Export Academy.
So now, you can see why I want you to become an International Trade Specialist...
? ITS obvious !
ng ieaeJ v aZotov
EBSI EXPORT ACADEMY
eBSI Doc Credit Clinic
The DOC CREDIT CLINIC ? ?Any s ignature um ts eb identified ?
Q 2010/ 03 - BILL OF LADING ? ?any is gnature um ts eb
We have received a presentation from a Nominated Bank wh hic the y
claim is in complei anc w ith the terms and conditions of the LC and
UCP 600. How ever, within our CL department there is disagreement as
to wer heth the presented Bill of Lading Complies .
Name: Vincent BO? rien
Position: iF rst Director
The Bill of Lading is signed by a party ?Yo krline Dubai Ltd? and it is
clear that the party ha s signed n o behalf of the carrier. How ever, some
Location: oM st likely on a plane
of our staff believe the document is discrepant as that signature is not Specialisation: International Trade Finance
identified as carrier, master or agent.
What is our y opinion?
We waait our y repl y a s the clock is ticking.
Interesting estionqu !
To facilitate the answer and to help grasp the conclusion , I have recreated the data provided in visual form because in the LC business our
decisions in practice are based on the ?look? of the data as it appears on the face of the document.
First , lets? look at the data by oz oming in on the document that is at issue , which is bottom right corner of the bill of ladin g.
We can see the that the bill of lading indicates the name of the carrier as
? SEAVIEW SHIPPING LTD?.
We can see that it appears to have been signed by a different party
OY? RILK EN D( BU AI ) LTD? .
The netx step is to turn to the rules , that is UCP 600
to examine for compliance .
If we refer to UCP 600 , sub-article 20 a( ,) i( ) we can see :
A ? ib ll o f lading , oh ew ver naem d , um st appear to :
? indicate teh naem o f teh carrier and eb signed :yb
? teh carrier or a naem d agent of r or on eb ah l f o f teh carrier , or
? teh am ster or a naem d agent of r or on eb ah l f o f teh am ster .
Any signature by the carrier, am ster or agent must be identified as tah t o f teh carrier , am ster or agent .?
The bill lading satisfies the reuq irement of indicating the name of the carrier ?SEAVIEW SHIPPING LTD? . The bill of lading is isgnde, not by
the carrier ?SEAVIEW SHIPPING LTD? but by a different party OY? RILK EN D( BU AI ) TL D? .
However , to comply with UCP 600 any signature??.. must be identified i( n capacity of the carrier or the master or the agent )
? this identification requirement is not satisfied.
Conseuq ently , the document is discrepant.
It is unfortunate as with basic knowledge this discrepancy could have easily been avoided ? or if time permitted easily repair ed.
Certified Training rP ograemm s
Programme Intakes every two months from October 2010
? Certificate in oL gistics
? Certificate in Finance
? ITS Accreditation
Delivered exclusively by :
? Advanced Certificate in
eBSI Export Academy
International Trade & oL gistics
Tel : +353 94 9381444 Fax : +353 94 9381708
? Diploma in Export Operations
Web: hptt :wb/e/.wiiws.e Em:ail fnoisb.ei@ei
? Certified Courses in Shipping
EBSI EXPORT ACADEMY
Upcomin g Events
necniV t O?Bneir w hit apicitrap t n s ta t eh ih lh g y c mo ne m ded URD G 857 w po hskr o h del i n Duab i no 41 nuJ e 02 01
A Maoj r International Seminar in Documentary Credit Management will be held on 28 November 2010 in Dubai Chamber of
Commerce & Industry , UAE. This seminar will be delivered by Vincent OB? rien , ICC Representative to the WTO Epx ert
Group on the Global Financial Crisis and long standing member of the ICC Banking Commission.
F ro eht mar g orp ro ot retsig er rof 28 November 2010 , esaelp c:t atnoc
Dubai Chamber of Commerce & Industry , Legal Services Department , Tel : 9+ 714 20238 993/ 69 , Fa :x 9+ 714 202188 1
E-mail : Legalevents@dubaichamber.ae
EBSI EXPORT ACADEMY
eBSI Career Focus
Careers in Exporting? Trade Finance Training
Another area of Exporting and Internationa l Trade in genera l which
i s es dl o m properyl underts ood i s the area of Trade Finance and
aP yem nt .s Thi s iuss e we ol o k at the profiel and roel of a Trade
Finance profeiss ona l and why thi s roel ha s attracted greater
attention in the aftermath of the Global Financial Criis s.
According to the Asian Development Bank, Trade finance is critical for oiling the
wheels of the world economy. Without it, companies cannot get the goods Name: Toh mas Sim th
Position: Operations Director
consumers want to buy and factories cannot get essential components. That means
fewer oj bs, lower incomes, and, ultimately, slower economic growth. Without a
Location: Kiltimagh, Ireland
doubt, the global financial crisis has brought into sharp focus the importance of
Specialisation: International Trade Training
traditionally conservative asset backed trade finance as a safe port in which to
weather the storm that has harassed financial markets over the last 2 years.
The recent IMFB/ AFT Trade Finance Survey of 88 banks in dicates that 8 %9 of small banks and 19 % of large banks
surveyed believe that the trade finance situation is either stabilizing or improving. Furtherm ore, more than %57 of banks
reported that they are now in the position to meet increased demand for trade finance. Along with this trend, the need for
trade finance professionals has grown significantly. The ICC along with the Maoj r International Development Banks also
completed a survey recently where 161 banks from 57 countries participated. All of this international activity and research
underpins the growing importance of Trade Finance as a career while the world draws its focus on mechanisms for growth
and trade development as a vehicle for recovery from the global financial crisis.
Given this clear opportunity for career development let?s look at the options
available to those wishing to gain specific training and uq alifications in Trade
Finance in the short term:
4 da y International Trade Finance Course ? Seminar from Ethan
Hathaway. This seminar is delivered on a regular basis and costs USD ,5$ 3 89
at last price check. Further details of this Hong Kong based course can be
5 day Trade Finance School - This Euromoney Training course covers all
aspects of international trade and commodity finance from a practical
viewpoint. Heavy emphasis is placed upon risk assessment and problem solving
techniuq es, through a clear understanding of a customers' trade cycle.
Currently the enrolment fee is GBP 3, 599 (USD 6$300) and the training takes
place in oL ndon. More info at
3 Day International Trade Finance Training Course ? This masterclass from oL ndon Based International Faculty of
Finance focuses participants in understanding the various risks that are inherent in contemporary trade finance. The course
provides a wealth of practical information and tools essential for success in any trade finance transaction. Courses are
again based in oL ndon and most recent enrolment fee is set at GBP 2,0 99 (USD 3$ 304 ). More details at
Certified Documentar y Credit Specialist - CDCS is the professional certification that will enable documentary credit
practitioners to demonstrate specialist knowledge and application of the skills reuq ired for competent practice. The exam
fee and self study guide costs GBP 24 5 + GBP 05 enrolment fee and may reuq ire further preparatory courses at extra cost
prior to sitting the exam. Further details at http://cdcs.ifslearning.ac.uk/
ICC Online Trade Finance Training Suite - Coastline Solutions, in partnership with the International Chamber of
Commerce (ICC), offers a suite of online training in the traditional trade finance products : Collections, Documentary
Credits, Standby CL s, Demand Guarantees. The training ensu res that trade finance professionals have the reuq isite skills
to issue, process and honour trade products in line with the provisions of the ICC Trade Rules (URC 25 2, UCP 06 0, URDG
857 and ISP9)8 . Course cost per module is EUR 300 or you can sign up for the full suite for uj st EUR 08 0. More info at
IFC FIT Initiative ? Finance of international Trade program run by eBSI Export Academy under the auspices of the
International Finance Corporation and combining eBSI?s comprehensive Finance of International Trade Course with
Coastline Solution?s Mentor 06 0 online training in UCP06 0 and leading to a Certificate in Finance of International Trade
from the Institute of Export UK. The commercial value of this program combined is EUR99,5 however in selected countries
of IFC participants may enroll in the course for a subsidized fee of EUR 309 . More info at httpi//: fcfitinitiative.com
Finance of International Trade Course ? aL st but not least eBSI Export Academy runs a practical online course in
Trade Finance covering Collections, Documentary Credits, Bonds and Guarantees, Factoring, Invoice Discounting,
Forfaiting, Structured Trade Finance, ECGAs and Warehouse Financing. Course fee EUR .596 More info from infoe@ bsi.ie .
Certificate in Finance of International Trade
Learn all oy u need to know about Methods of Pamy ent & Finance !
? Online Tutorials with ICC Banking Commission Members Contact us for more details:
? Certified by the Institute of Export UK eBSI Export Academy
? Includes ICC Online Training in UCP 600 Tel : +353 94 39 814 44 Fax : +353 94 9318 708
? Recognised by International Finance Corporation Web: htt p : // w be.ww ei.is :liamE foni @ sbe . e i i
EBSI EXPORT ACADEMY
eBSI Weblinks for Exporters
eBSI Weblinks for Epx orters is a new section that will provide you every issue with websites
recommended by our course participants as being of particular use to them in their international Trade
Activities ! Websites that can be considered for in clusion in this section include but are not limited to
International Trade, Trade Finance and oL gistics sites such as:
? Business Networking Sites
? References or Blogs
If oy u have a site to recommend then send it
? Import Export Directories
to Weblinks for Exporters at weblinkse@ bsi.ie !
? Country Portals
ShipServ is the leading maritime e-marketplace, helping the
buyers and sellers of ship supplies to reduce the costs
associated with doing business together. They do this
Coracle Voice is a social media, news monitoring
through an innovative portfolio of software, services and
and online consultancy service for the shipping
hosted applications designed by shipping people, for
industry. Coracle Voice is brought to you by
shipping people. http://www.shipserv.com
Coracle delivers expert professional development packages and
A? FROTRADE ? provides an
training so ecx ellent opportunity to anylutions for the shipping industry. Their blended and
commercial organiaz tion that
adaptable skills courses allow shipping professionals to easily
wishes to expand its market to the
integrate education and training into their work or home lives.
giant and needy market of Africa.
That is why eBSI counts Coracl e as its strategic education
They sell a comprehensive
partner for our clients in the Shipping industry. Check out their
directory of African Importers.
new iphone apps for the shipping industry at:
http:w// ww.coracleonline.coma/ pps
TradeKey.com is world's leading marketplace
Lloyd?s List?s provide information, analysis and
which connects traders with worldwide
knowledge for business decision makers in the
wholesalers, buyers, importers & exporters,
global shipping community. Coming from one of the
manufacturers and distributors in over 220
oldest names in international trade with a strong
countries, uq ickly and cost effectively.
reputation in Business and Shipping intelligence.
Binz ik is an award-winning
GlobalTrade.net is an initiative from the
community of entrepreneurs and
Federation of International Trade
Plaxo ? An enhanced address book
small businesses dedicated to
Associations (www.fita.org) with the
tool for networking and staying in
helping each other succeed. It
objective of being a knowledge resource for
contact. It will also inform you of
has groups, events calendar,
international trade professionals & a cross-
updates of your contacts. You can
forums and member contributed
border database of international trade
import contacts also.
articles among other items.
EBSI EXPORT ACADEMY
IFC FIT Initiative
IFC FIT INITIATIVE LAUNCHED IN EAST AFRICA
6 Launch takes on Regional Focus for Africa!
Nairobi, eK nay
The launch on 21 May 2010 of the first Regional FIT Initiative Program took place in the framework of another maoj r
milestone in the development of the IFC GTFP program ? its 100th seminar training event since the establishment of the
GTFP. Representatives from the Government of aJ pan who have funded the establishment of this Regional FIT Initiative
program in East Africa were on site to participate in both events. The launch event attracted over 90 delegates from the
Banking and International Trade Sectors of Kenya, Tanaz nia and Uganda.
A stirring presentation was delivered by the Chairperson of the Institute of Export UK, Mrs eL sley Batchelor who addressed
the audience in Kenya from her office in the United Kingdom using Internet Video Conferencing.
A series of graduation events took place during the
summer celebrating the achievements of Trade
Finance Professionals in Pakistan, Bangladesh and
Vietnam in their passing the success criteria
established for the conferring of the Finance of
International Trade Certificate from the Institute of
Export UK and the Certificate of Accomplishment in
UCP06 0 Mentor online training.
Pakistani participants graduated at events in Karachi,
aL hore and Islamabad between the 2nd and t6 h of FIT Initiative Graduation held in Lahore July 2010
uJ ly 2010. Pictures of the main events can be seen on
this page, and a video commentary on Pakistan was
uploaded to the course central website at
ICC Nigeria, our strategic partner in Nigeria, organiez d
a very successful URDG seminar on 2 uJ ne in aL gos.
Save the date of 2 December in your diary if you are
in Nigeria as ICC Nigeria will deliver an Incoterms
2010 workshop with Vincent O?Brien ! Reuq est Info
Netx Intake Dates for the IFC FIT Initiative
The netx progra m intaek s wi ll taek pal ce in the fooll wing
FIT Initiative Graduation held in Islamabad July 2010
countrie s on 42 aJ nuary 1102
Bangladesh, Ataur Rahman, Bangladeshi@ fcfitinitiative.net
Pakistan, Umar Farooq, Pakistani@ fcfitinitiative.net
Nigeria, Bunmi Funke, Nigeriai@ fcfitinitiative.net
Vietnam, Martin Nguyen, Vietnami@ fcfitinitiative.net
Cambodia, Cambodiai@ fcfitinitiative.net
East Africa, Kenya@ifcfitinitiative.net
For other countries please contact infoi@ fcfitinitiative.net
Vincent O?Brien, Mrs Omolara Akanji and Mrs
Bunmi Funke at the URDG Seminar in Lagos
EBSI EXPORT ACADEMY
IFC FIT Initiative
FIT Initiative Graduation held in Dhaka Bangladesh on 1 August 2010
The IFC ?FIT Initiative? is an el- earning Online Collaboration Site for stakeholders
The next roll out of the IFC FIT Initiative
program that is designed with an important
To leverage the network aspect of the F' IT '
will commence for participants in dual purpose:
Initiative all stakeholders (participants, tutors
1. to train and certify international trade
and coordinators) will have access to an online
Bangladesh, Cambodia, East Africa,
th networking and collaboration system designed to
Nigeria, Pakistan and Vietnam on the 24
2. to build an online global network of
facilitate exchange of ideas and contact building.
of aJ nuary 2011. Participants of the IFC
international trade and finance professionals
who will share knowledge and experience on
FIT In Online Interactive Core Learning Material itiative become a part of an
an online platform specifically developed for
The Finance of International Trade (FIT) course
international network of trade finance
is comprised of the following eL arning Units :
* Methods of Payment
This Three Month program is delivered in a
* Bills of Exchange
combination of the following learning
Those interested in participating in the
* Documentary Collections
program or reuq iring further details can
* Documentary Credits
contact the IFC FIT Program * Import Documentary Credits
Online Support site for students
* Bonds & Guarantees
Administration at infoi@ fcfitinitiative.com Students will be incorporated into the eBSI
* Forfaiting, Factoring & Invoice Discounting
Alumni and will be able to collaborate through
or contact directly their local coordinators
* Structured Trade Finance
a purpose built learning platform.
listed on the previous page.
* Export Credit Agencies
* Complex Transactions
Online Specialised training in CU P 06 0
The IFC FIT Program is now firmly
* Warehouse Financing
ICC Approved Online Training in UCP 06 0
establ * GTFP Trade Facilitation Program ished with almost 05 0 graduates
(Mentor or Upskill 06 0).
already ! Will you be next ?
oJ in us on Facebook !
httpw//: ww.facebook.comp/ agesI/ FCF- ITI- nitiative-
P tcejor P srentra ni eht IFC FIT Ie itaitinv
Financeo- fI- nternationalT- rade1/ 1444 15966555 8 8
eBSI Gratefully acknowledges the participation and contribution provided to
the success of this project by the following project participants:
East Africa Launch of the IFC FIT Initiative
FIT Initiative Graduation held in Chittagong Bangladesh on 2 August 2010
EBSI EXPORT ACADEMY
eBSI Expert Commentary
Hiring Sales Agents and Export Representatives
Lats Iuss e , Thoam s Sim th? s articel coev ring the career
opportunitie s a s an Epx ort Sael s Reprees ntatiev , touched on an
area I a m particual ryl paiss onate aob ut . A s us ch I haev prepared
thi s articel ub idl ing on hi s ub t giiv ng the perps ectiev of an
epx orter or am nufacturer who es e sk to hire us ch an epx ort as el s
representative and to explore the criteria I haev ues d in the pats
Name: eG rard Korver
when dealing with this important area.
Position: Managing Director
Employer: w ww.Export-Trading.com
Hiring a Sael s Agent or Epx ort Reprees ntatiev , il ek any other HR
Location: The Netherlands
deciis on , is not os em thing to eb taek n il ghtyl a s your choes n
Specialisation: Export Consultant
candidate will eess ntially be the face of your company in your
target am rek t.
I have been the ownerC/ EO, of a multinational operation. I developed the company from a n? ational? (well actually based in
The Netherlands and Germany) to a multinational business. My operation had three manufacturing plants and, in the end,
eleven marketing companies located in many parts of the world, including China (Beiij ng and Hong Kong), aJ pan, USA, and
most European Countries. My Headuq arters were in Germany with two production plants and four or five marketing
branches in Germany itself. In Europe I established my own marketing offices in those markets where I saw business
Simple but Pragmatic Strategy
My strategy was simple yet pragmatic - I sought out an individual with a
strong marketing and management background in the target country and
offered him or her to become the future Managing Director of the new
marketing operation that they had to build for me, and off we went. This
way my costs were low and I had extremely motivated people to work for
me that were prepared to invest their working life in building "their "
company. This (European) strategy also gave me the best form of control
over what my sales people were doing for me. Before, I had agents and it
was difficult to maintain them and to control what and how much they
were doing for my business ? a common issue when dealing with agents
as you will see later. Most of my European Companies therefore became
a great success and in the end I was employing close to a hundred sales
engineers and had a staff in total of 330 employees. I repeated the same
strategy in several overseas markets such as the US, China and aJ pan. In
the r" est " of the world, and in areas where we needed even greater
engagement with the market due to the sheer siez of the market it could
not be covered by Branch Office Staff on their own (USA for instance) ;
we worked with agents and distributors in addition to our own Branches.
In 1990 I sold my business to a maoj r multinational. My business at that
time had a net worth of 1$ 05 million.
Since the sale of my company I have consulted for many
manufacturers and exporters and have assisted them in introducing
their products or services to the market place. I have also been
involved in reorganiiz ng many companys' sales structures. I always
had the belief that the sales force was the key element that could
pull any company through any difficult economic time. Sales,
therefore was always my prime focus when working in any
organiaz tion. I have often been involved in finding good
international representation for clients because I still had a good
personal network of contacts.
EBSI EXPORT ACADEMY
eBSI Expert Commen
Pareto?s Law for Epx ort Sales Agent Recruitment
In general terms, less than 20 % of sales agents are
successful. This is "normal" and apparently an industry
average. 08 % of the agents we re unsuccessful and eventually
have to be replaced. This is a continuous and very labor
intensive process. The cost of recruiting, retraining the new
agents, salespeople, the sales lost and the customers lost and
market share lost to competing lines can be astronomical.
Why does this happen ? First of all, some business people think they are
the only manufacturere/ xporter in the world. Fact is, there are millions,
all wanting to sell their u" niuq e" line of products. Fact is too ; that in an
ideal world the manufacturere/ xporter wants to employ someone by
paying them only after a fully paid sale has taken place hence the
popularity of sales or commercial agents. Many times the case may be
that the sales agent isn?t convinced that they have the best product in
the form of your product.
The sales agent has to personally i" nvest" first in selling your product
without having earned a cent yet. So they have little or no other choice
than to try to sell your product and, yes, mostly on an opportunistic
basis. The problem is, the sales agent will naturally focus on products
they know they can sell. Another limiting factor is the number of product
lines being handled by the sales agent. 121- 5 product lines should be any
agent?s limit. A typical sales agent will earn most of their income from
20 % of their entire portfolio ; the remainder of the portfolio is trial, error
and opportunistic. Chances are considerable that you are in the other
r" emaining " section of the agent's portfolio. That?s not an optimum
This is why finding, recruiting and appointing sales agents is an art and a highly skilled task. Assuming we have found the
best agent for our purposes, the most difficult part still remains after the Agent has been appointed : MANAGEMENT. This
is true with both independents/ elfe- mployed agents or employed sales staff.
Interviewing a sales agent is a task which not only needs to determine how good a sales professional they are, but to a
greater extent, we need to look at how they are running their business. That includes looking at the product lines they
currently sell in detail and identify which ones could match with your products, rather than compete with them. An
exporter or manufacturer needs to make sure that the sales agent is not uj st trying to get more product lines with the
premise that the more lines they carry, the more chance of selling s? omething?. That?s why a focused and well structured
product line portfolio which complements or synergises with our own product lines is an essential ingredient when choosing
a sales agent.
Among other items of data I like to collect on potential export sales agents, of course as mentioned, their product lines,
their management style, their successes rate, which product lines are under performing and why from the perspective of
the export sales agent. The fact of the matter is that, when we go in search of a good export sales agent, the best of the
bunch will be difficult to find because they are already on the road selling. Those that are sitting at home randomly
applying to represent your, or someone else?s product line is likely the wrong agent to work with. This is where the
criteria and suggestions above can assist in your search for the right person for your company.
One of my own personal initiatives in assisting manufacturers
in finding agents has been to set up an international trade
directory at www.export-trading.com . Its focus is as a
location where Manufacturers can be found by potential
buyers. For the more proactive among you a website at
http://www.exportid.com/ provides an online directory of
specialised export agents seeking principals. Remember to
take into account the points in this article when evaluating
potential export sales agents for your company and you will
be well on your way to being in the top 20 % of successful
product lines offered by your future sales agent !
oL oking for export markets, new products, sales agents,
manufacturing agents, buying agents worldw- ide ?
You can post your products, services, or search for
distributors and sales representatives (free) at www.export-
Email: infoe@ xportt- rading.com
Other Web Sites : www.freeexportdirectory.com
EBSI EXPORT ACADEMY
eBSI China Systems Update
CS Prize Draw
At ICC Banking Commission
Orlando USA ? 23 September 2010
Mike Quinn, JP Morgan Global Trade,
necniV t O?Bneir nnanuo sec t eh
Managing Director with Vin O?Brien as he Regina Prehofer, Chair, ICC Banking
China Ssets my Prize Dwra .
collects entries. Commission draws first prize winner.
Regina Prehofer, presents a high spec Kah Chye Tan, Global Head of Corporate Cash Kah Chye Tan, newly appointed Chair, ICC
Ferarri Laptop to the first prize winner Per and Trade, Standard Chartered Bank and newly Banking Commission presents the second
Johannson of Svenska Handels Banken. appointed Chair, ICC Banking Commission prize for Mirja Fonck of Pohjola Bank Finland.
verifies second prize winner.
China Systems, the world?s leading trade services solutions vendor, has recently signed International Finance
Bank, based in Miami, for use of its Trade Services solution CS Eximbills. International Finance Bank will deploy
the platform automating traditional trade finance business functions under a contract that will see the proej ct
implemented oj intly with China Systems and International Finance Bank staff. The system will be fully integrated
with the Bank?s systems in a realt- im e environment. The implementation is expected to take uj st over one
In another important development, Umpuq a Bank, a su bsidiary of Umpuq a Holdings Corporation (NASDA:Q
UMP)Q , has teamed with China Systems USA & Canada Inc. (China Systems), to offer its international banking
customers the latest in automated trade finance technologies. Umpuq as' International Banking Division recently
completed the installation of an integrated system that automates and audits the complete cycle of trade finance
transactions. Additionally, the bank has released its Umpuq a Online Trade Services, which provide expanded
trade finance functionality for Umpuq a Bank customers, in cluding 2h-4 our online access to letters of credit and
outgoing documentary collection services.
EBSI EXPORT ACADEMY
eBSI Expert Commentary
Financing Options for Exporters ? Nigerian Perspective
Nigeria is an eem rging economy with high growth potential.
Unfortunately, most of it remains untapped due to many exportable
commodities being negel cted, as the federa l goev rnem nt? s am in focu s i s
the exploration and exportation of crude oil. In addition, the government
and financial institutions have so far giev n il ttel or no attention to
developing commodity export in te rms of policy implementation and
epx ort financing , reps ectiev yl .
There is no doubt that Nigeria is capable of increasing her current levels of
commodity production. The country is among the top ten in the export of Name: Ayeim bo Baim dele
Position: Trade Product aM nager
commodities worldwide, despite the fact that nearly all Nigerian commodity
Employer: Diamond Bank Nigeria
exports are mostly cultivated by small scale farmers. For example, n Chemonics
Location: Lagos, Nigeria
International Inc.?s 2002 report, Overview of the Nigerian Sesame Industry,
Specialisation: Trade & Finance
Nigeria is listed as the seventh largest exporter of sesame seeds in the world.
Thus, it is proposed that exporters should be financed in order to increase the demand for several Nigerian commodities,
which will in turn raise the return on investment (ROI) of farmers. The bigger the ROI of the farmers, the more they will
be encouraged to cultivate on a larger scale. New entrants will also be enticed to oj in, and Nigeria?s annual production
will ultimately grow as a result.
The scope of the proposed financial model for small scale exporters is as follows :
1. Sourcing of export order from commodity importers abroad
2. Commodity sourcing, uq ality control and warehousing
3. Posts- hipment financing and export credit insurance
Numbers 1 and 2 should be monitored by the bank in order to reduce performance risk on the part of the exporter and
minimiez nonp- ayment risk due to the poor uq ality of exported items.
The Scope of the Epx ort Financing Model
Post-nt shipme c ing finan and rt expo redit c ce ninsura
The average small scale Nigerian exporter uses open account or
documentary collection as mode of payment and has to wait for at least
13-4 0 days from the date of shipment to the date of receipt of the
export proceeds from the buyer.
Posts- hipment financing, which finances exported goods from the date
of shipment to the date of receipt of the export proceeds, aims to
provide small scale exporters with the working capital needed to
minimiez the cash constraints resulting from the extended waiting
period. Since the waiting time depends on several factors, the need for
posts- hipment finance to reinforce the exporter?s financial position also
varies accordingly. Posts- hipment finance can take various forms but
mainly involves factoring or discounting of receivables.
Export factoring is a complete financial package that combines export
working capital financing, foreign accounts receivable bookkeeping,
credit protection, and collection services. A factoring house or factor is
a bank or specialized financial establishment that purchases invoices or
accounts receivables. The factor buys the exporter?s shortt- erm foreign
accounts receivables at a discount, usually without recourse, and
assumes the risk on the ability of the foreign buyer to pay. It also
handles collections on the receivables.
The risk of nonp- ayment by foreign buyers is virtually eliminated,
allowing exporters to offer open accounts and documentary collection
payment terms, improve liuq idity position, and increase
competitiveness in the international marketplace.
EBSI EXPORT ACADEMY
Country Focus - Nigeria
Export factoring for small scale epx orters
Although export factoring is a total financial package, this article will only focus on post-shipment export working capital
Banks should hire an agency such as Dun and Bradstreet to investigate foreign buyers of different Nigerian commodities to
check and confirm their credit standing. Banks can then enter into an agreement with uq alified companies who will issue
their export contract locally on a documentary collection basis to exporters that need posts- hipment financing. The bank
should also have an agreement with NEXIM Bank or an insurance company to provide export credit insurance for small
After presenting the reuq ired documents, a
small scale exporter will sign an agreement
with the bank to acuq ire an export contract
and a posts- hipment export financing
facility. The bank will forward the
documents to the buyer?s bank with the
instructions for documentary collection. The
buyer?s bank will transfer the funds to the
exporter?s bank, and the bank will then
liuq idate the exporter?s facility and credit to
the exporter?s account.
Export credit insurance
The purpose of export credit insurance is to provide offshore protection to exporters of
goods and services who sell their products on credit terms. Exporters are insured
against losses arising from various risks, either commercial or political. Export credit
insurance gives exporters a significant degree of financial security, enabling companies
to take on bolder export policies by accepting new purchasers and venturing into new
overseas markets with fewer risks.
Export Credit Insurance in Nigeria is available through the Nigerian Export Import Bank
through their Export Credit Insurance Facility (ECIF).
The obej ctives of the facility are :
? To encourage exporters to diversify their export markets without fear of the risks
inherent in dealing with new buyers
? To attract new enterprise s into export business
? To encourage exporters to ex tend credit terms to their buyers in order to enhance
their competitiveness in the international markets
The following exports are eligible for cover under the facility.
? Export of goods wholly or partly manufactured in Nigeria
? Export of commodities, which are expo rtable under the laws of Nigeria.
? Such export must be supported by wr itten contracts of supply concluded on
credit terms of not more than 180 days.
? Export of services.
Two types of cover are provided under the facility
? Pre-shipment cover ? Post-shipment cover
In most cases, one policy shall be issued to cover both pre - and post-
shipment risks while pre-shipment policy alone shall be granted on exceptional
The risks covered under both pre-shipment and posts- hipment
policies are stated below :
Pres- hipment risks
? Insolvency of the buyer immediately before shipment is undertaken or other
events that make it inadvisable to export, ? Cancellation of export license
which was valid at the time production commenced, ? Imposition of
restriction on the export of goods not subject to license at the time production
Further information :
Further information on Export Credit Insurance in
Posts- hipment risks
Nigeria can be obtained from the Nigerian Export a) Commercial Risks :
? Insolvency of the buyer ? Protracted default by the buyer ? Buyer's refusal
Import Bank through their website at
to accept the goods dispatched which conform to contract specifications.
http:w// ww.neximbank.com.n g/export_credit_insurance_
b) Political E/ conomic Risks
? A general moratorium on payment decreed by the government of the
ECIF Brochure ECIF Guideline
buyer's country. ? Any other measures or decisions of the government of a
foreign country, which prevent performance of the contract. ? Political events,
economic difficulties, legislative or administrative measures arising outside
Nexim?s Main Website covering all the supports
Nigeria that prevent or delay the transfer of payments due under the
available to Nigerian Exporters can be found at :
contract. ? War, revolution and civil disturbance in the country of the buyer,
which prevents or delays the transfer of payments due under the contract.
? Default by a government buyer. ? Any other causes of loss arising outside
Nigeria, which is beyond the exporter?s and buyer's control.
EBSI EXPORT ACADEMY
eBSI Advertisement Feature
DISCOVER HOW GLOBALTRADE.NET CAN HELP YOUR OVERSEAS OPERATIONS
Want to share your expertise to the international trade community and in return gain new business leads from other trade
professionals? FITA Online (http://www.fita.org) makes it possible through its new website http://GlobalTrade.net .
Are You an Importer/Exporter?
Find informative content and service
providers for your international trade
operations in GlobalTrade.net?s
Knowledge Resource. Here
international trade professionals can
find experts? analysis, market surveys,
tips, white papers, country profiles,
experts? views, webinars, news flows,
video tutorials, etc.
Are You a Service Provider?
Feature your expertise by posting
content to our Knowledge Resource
and listing yourself in our Database
of International Trade Service
Providers. International trade
professionals can select experts such
as international marketing
consultants, trade finance companies,
banks, freight forwarders, quality
control firms, lawyers, accountants,
customs brokers, instructors,
insurance providers for their
http://www.GlobalTrade.net is run by FITA Online (http://www.fita.org) , the online services division of the Federation of
International Trade Associations (FITA), together with partners U.S. Commercial Service, UK Trade & Investment,
ThomasNet, Alibaba and Kompass.
eBSI Export Academy has teamed up with FITA Online to provide you with special invitations to try out this new website.
You will be among the first to try it out. So what are you waiting for? Sign up today!
The new website is currently in its ?soft launch? phase? that meaning you can only access it by an exclusive invite. Launching
in only a matter of weeks, GlobalTrade.net would like to invite all eBSI TradeBrief subscribers to create a profile today, post
informative content and gain new business leads for FREE. Creating a profile and posting content is free. Being listed in the
Database of International Trade Service Providers is free until June 2011.
Simply log in with the ID and Key below to start getting new business today!
FITA Online offers diverse online services to the worldwide international trade community. Its services include the websites
http://www.globaltrade.net and http://www.fita.org, as well as International Trade Information Platforms for Banks, online
international trade information systems for government economic development agencies and customized international trade
Explore GlobalTrade.net for FREE at http://www.globaltrade.net
EBSI EXPORT ACADEMY
eBSI Expert Commentary
Notations and Multimodal Transport Documents
In the autumn 2009 issue of DCInsight, Haluk Erdemol
tackled on board notations as they apply to a B/L and
multimodal transport docume nts (multimodal bi lls of
This is perhaps the most co ntroversial iuss e that has
emerged in UCP 600 so far , an d his article was an excellent Name: Pavel Andrle
Position: Secretary - Banking Coimm ssion
contribution to the ongoing de bate, which hopefully will be
Employer: ICC Cez ch Republic
resolved some time soon. Here I would like to add some
Location: Prague, Cez ch Republic
Specialisation: Trade Finance Training
Bill of lading
First, it is unfortunate that this confusion took place, as it was, in my view, clearly avoidable. It is a well-known fact that UCP
05 0 article 23 provided clear guidance in saying : I" f the bill of lading indicates a place of receipt or taking in charge different
from the port of loading, the on board notation must also include the port of loading stipulated in the Credit and the name of
the vessel on which goods have been loaded, even if they have been loaded on the vessel named in the bill of lading."
Suba- rticle 23 (a) ( iii) (a) of UCP 05 0 also clearly allowed a bill of lading to show a place of taking in charge different from
the port of loading, ando/ r a place of final destination differ ent from the port of discharge. ISBP 465 paragraph 82 further
explained that if the Container Yard (CY) or Container Freight Station (CFS) is stated as the place of receipt, and that place is
the same as the stated port of loading, these places (place of receipt and the port of loading) would not be considered as
different, and conseuq ently the inclusion of the named vessel an d port of loading in the on board notation would not be
necessary. This clarification does not appear in the updated ISBP 186 .
The intention behind these apparent changes (or omissions) in the UCP 600 and ISBP 861 has not been explained in a timely
fashion to the banking community. Naturally, this led to confusion with some believing there was an intention to treat the
matter differently under the new UCP (why otherwise was there a change)? ; and others claiming that it was only a change in
the drafting style and not in the underlying rules for examination.
In its Commentary to UCP 06 0, the UCP Drafting Group explains that the reason for changes in the wording was n" ot to
encourage " the use of the p" lace of receipt " and "place of final destination " on bills of lading covering ocean transport. But
the reuq irement that the document checker must be able to determine that the bill of lading appears to indicate that the
shipped on board statement (by pre-printed wording or by a se parate notation) relates to loading on board the named vessel
at the port of loading stated in the credit, and not to any pre- carriage of the goods between a place of receipt and the port of
loading, remains the same as it has been under UCP 05 0.
The Drafting Groups' desire n" ot to encourage the use of the place of
receipt on bill of lading " is understandable. It seems pretty strange when
the credit reuq ires only ocean transport from a port of loading to a port of
discharge, that the bill of lading should show the place of receipt at all. If
the place of receipt is the same as port of loading, and the only difference
is that the place of receipt is a CY or CFS, then it seems reasonable. In
most cases, containers are received by carriers at these places. The bill of
lading is released to the shipper only when the goods are on board the
But if the place of receipt is very far from the port of loading, say at a
distant inland place, then it is likely that the document is actually a
multimodal transport document. Usually, the document itself makes this
uq ite clear.
Pavel Andrle discusses technical LC details
with an eBSI consulting client.
For instance, if a document is entitled "Bill of aL ding for Combined
(Multimodal) Transport Shipment or Port to Port Shipment " and
indicates that the P" lace of Receipt " ando/ r P" lace of Delivery " fields
are to be filled in only in case the document is used as a combined
(multimodal) transport document, should we accept a multimodal
transport document in cases when the credit reuq ires a bill of
lading covering only a portt- op- ort transport ?
It would be nice to receive t" rue ocean transport bills of lading
only " when a credit reuq ires a bill of lading covering portt- op- ort
transport. However, in practice, especially in the case of landlocked
exporters, shippers arrange the transport with one maoj r carrier,
which organiez s both the land transport from the inland place to
the port of loading and then transport from the port of loading to
the port of discharge or even the final place of destination.
EBSI EXPORT ACADEMY
eBSI Expert Commentary
It would be simple if the transport from the inland place of receipt to the port of loading were covered by one transport
document, say a road transport document, and the portt- op- ort transport (as reuq ested by the credit) by an ocean bill of
lading. In such a case, the bill of lading would not show the place of receipt as the inland place at all (why should it?).
However, in practice the carrier issues only one transport document : a multimodal transport document, since that is what
he is responsible for. He does not often understand why the shipper wants him to add a separate dated on board notation
with the named vessel and the port of loading and, in some cases, he does not actually want to comply with this specific
reuq est since, by doing so, he actually c" onverts " the multimodal transport document into a bill of lading.
Certainly we accept documents as compliant when the credit reuq ests a bill of lading covering ocean transport only. We do
not concern ourselves too much with the prec- arriage (from the place of receipt to the port of loading), provided it is
evident that the goods were shipped on the named vessel at the port of loading. If the place of receipt differs from the port
of loading (see above) and the bill of lading shows also a prec- arriage means of conveyance (for instance a truck), an on
board notation (shipment date, vessel name, port of loading) is necessary. It would be necessary even if the pre-printed
wording indicates s" hipped on board. " If the transport document expressly indicates that the s" hipped on board" statement
relates to any truck, wagon or any other means of conveyance on which goods are shipped from the place of receipt on the
way to the port of loading, than the extended on board notation (showing shipment date, vessel name, port of loading)
would be also reuq ested.
Do we, as bankers, accept a bill of lading showing a place of final destination different (not just CY or CFS) from the port of
discharge ? Under UCP 500 we clearly did ; under UCP 06 0 we do as well, even without clear guidance in UCP 06 0 or ISBP
186 . It may seem strange that we accept a transport document which shows that the goods will go to Prague when what
we wanted was for the goods to be delivered only to the port of discharge, say, Hamburg. But we do.
Neither article 2 6 of UCP 500 nor article 1 9 of UCP 06 0 clearly state that a
multimodal transport document must show that the goods were "shipped on board "
the named vessel in the port of loading if the transport begins by ocean transport
from the port of loading stipulated in the credit (as the starting point of the
shipment). This issue was very problematic under UCP 05 0, which is why many of
us constantly raised the issue during the UCP revision process.
Suba- rticle 1 9 (a) (ii) of UCP 06 0 requires a multimodal transport document to:
i" ndicate that the goods have been dispatch ed, taken in charge or shipped on board
at the place stated in the credit." It is argued that if the multimodal transport starts
with ocean transport (from the port of loading as reuq ested in the credit), then it
should show that the goods were shipped on board a named vessel at the port of
loading stated in the credit. However, since UCP 06 0 does not clearly say so, one
might argue that the multimodal transport document might uj st show that the
goods were dispatched or taken in charge in the port of loading.
In the case of multimodal transport, delivery terms such as FCA, CPT or CIP should
preferably be used, as these are a perfect match for the g" oods being dispatched or
taken in charge."
Many recent Banking Commission opinions made it clear that if the multimodal transport
starts at the port of loading stated in the credit, the multimodal transport document must
show that the goods have been shipped on board a named vessel at the port of loading
stated therein. This may not be ideal, but provided this interpretation is clear and well
communicated, it is acceptable.
If the applicant wants a multimodal transport document to show that the transport starts
at the port of loading with goods being taken in charge only (as opposed to being shipped
on a named vessel), he or she can do so by inserting a clear reuq est in the credit. If the
credit shows a port, e.g., Hamburg port, as the place of receipt, then in my view the
multimodal transport document might well show that the goods have only been taken in
charge in the Hamburg port.
It should be made perfectly clear that if the multimodal transport starts by ocean
transport at the port of loading as stated in the credit, the reuq irements for the
multimodal transport document in relation to s" hipped on board at the place stated in the
credit " must be exactly the same as those for the bill of lading as set out in article 20. In
other words, if the multimodal transport document shows a place of receipt different from
the port of loading (see above) and also shows the prec- arriage means of conveyance, an
on board notation is reuq ired (indicating the shipment date, name of the vessel and port
of loading). If the multimodal transport document shows a uq alification to the vessel as
i" ntended," a separate dated on board notati on with the name of the actual vessel is
reuq ired. If the multimodal transport document shows a uq alification of the port of
loading as i" ntended," a separate dated on bo ard notation with the name of the actual
vessel and port of loading is reuq ired.
ICC rules are rules of practice. Their goal must be to provide practitioners with clear
guidelines to do their oj bs. In this case, the clarity called for has, up to this point, been
Article originally published in DCInsight Vol. 16 No.1 aJ nuary - March 2010 by Pavel Andrle. Pavel
Andrle is an international trade finance consultant and trainer for eBSI Export Academy and
Secretary of the Banking Commission of ICC Cez ch Republic. His em- ail is email@example.com .
EBSI EXPORT ACADEMY
eBSI Recent Events
Demand for eBSI experts to deliver seminars an d attend conferences around the world has grown
dramaticall y despite financial crisis. Here is a brie f overview of some of our more notable appearances
since last issue !
A special presentation and information event was arranged for the 27 of April by
IFC in Istanbul prior to their important 3 Annual GTFP Partner?s Meeting on 2 8
and 29 April featured in an earlier issue. Vincent O?Brien delivered a presentation
to donors on the results of the GTFP training initiatives. The GTFP itself has seen
its volume of activity grow significantly in the last year.
An exceptional turnout for the IFC 3 Annual GTFP Partner?s Meeting on 228- 9 April 2010
Vincent O?Brien?s multic- ountry EBRD Trade Finance Fraud Prevention and
Identification tour continued into Central Asia with a 2 day event in Tashkent,
Uzbekistan on 10 and 11 May. Participants particularly appreciated the emphasis on
examination of real life cases in bringing various fraud schemes into greater focus.
Vincent O?brien at Certificate awarding event in Tashkent.
The next stop on the multic- ountry EBRD Trade Finance Fraud Prevention and
Identification tour was in Dushanbe, Taij kistan on 13 and 1 4 May.
Vincent O?brien with participants in Dushanbe at Certificate awarding event.
EBSI EXPORT ACADEMY
eBSI Recent Events
Skopej , FYR Macedonia
The second leg of the EBRD Trade Finance Fraud Prevention and Identification Tour
was focused on South Eastern Europe with a seminar taking place in Skopej , FYR
Macedonia on 1 8 and 1 9 May.
Vincent O?Brien with Participants in Skopje Trade Finance Fraud Prevention Seminar.
The EBRD Trade Finance Fraud Prevention and Identification tour continued its
South Eastern Europe leg with a seminar taking place in Belgrade, Serbia on 20
and 21 May.
Vincent O?Brien with Participants in Belgrade at the end of the training.
The final stop on the South Eastern Europe EBRD Trade Finance Fraud Prevention
and Identification Tour was focused on Chisinau, Moldova and took place on 2 6 &
2 7 May.
Vincent O?Brien and Moldovan participants in Chisinau at the certificate conferral ceremony.
EBSI EXPORT ACADEMY
eBSI eBSI Recent Events
Pavel Andrle was invited by ICC China to deliver a seminar to their members on
Trade Finance for Emerging Markets on 13 uJ ne 2010. This seminar was
attended by 1 8 delegates and covered aspects also of relevance following from
the Global Financial Crisis.
Pavel Andrle & Trade Finance participants at the ICC China seminar.
aL gos, Nigeria
The International Chamber of Commerce National Committee in Nigeria invited
Vincent O?Brien, eBSI?s First Director to deliver the first ICC seminar in Africa on the
Uniform Rules for Demand Guarantees new revision, URDG 57.8 The highly
successful seminar was held in aL gos on 2 uJ ne 2010 .
Vincent O?Brien with an impressive turnout of Nigerian Bankers at the New URDG 758 Rules
workshop held in aL gos, Nigeria.
Dubai, United Arab Emirates
The growing importance of Demand Guarantees was also reflected by a significant
turn out at a U? niform Rules for Demand Guarantees new revision - URDG?857
seminar held in Dubai and organised by Dubai Chamber of Commerce & Industry
on 1 4 uJ ne 2010. A Video report on this seminar can be found under our Technical
Trade Broadcasts section of the eBSI Export Academy Website at www.ebsi.ie.
Vincent O?Brien & Dubai Chamber of Commerce & Industry participants
following the highly successful event.
EBSI EXPORT ACADEMY
eBSI Recent Events
The International Chamber of Commerce National Committee in Hungary invited