Financing international trade is a risky business, this seminar helps traders to interpret the risks, and shows them how to protect themselves. As traders don’t have to work long in the business to realize that international trade is not just about buying and selling. It involves international transport, and that means putting cargoes in the hands of transport operators who are sometimes unscrupulous or under-capitalised.
So this seminar will illustrate the risks and fraud possibilities on how buyers and sellers are the losers as well as how buyers and sellers collaborate to cheat Banks and Insurance companies.
Fraudsters and unscrupulous traders can abuse these weakness to the detriment of exporters, importers, bankers and shipping agents. The course will share with participants many practical case studies collected through many years of research as well as through contacts with exporters and importers and bankers during numerous public seminars conducted over the last 12 years. It is therefore imperative for all those using letters of credit to be aware of the risks and frauds to prevent loss, and learn from past leading court cases.