Certified Trade Finance Specialist course systematically analyses the various types of trade finance products including how and why they are used, the benefits they provide to exporters/importers, how they are structured and why they enable risk to be identified, managed, mitigated and transferred.
CITF enables trade services specialists to demonstrate expertise on the essential procedures, practices, and legislation of international trade finance and their readiness for career progression.
A wide variety of trade products will be explained including Documentary Collections, Letters of Credit in their various forms, Bonds/Guarantees/Standby Letters of Credit and the numerous ways in which trade finance is provided, both pre and post-shipment.
The course will also examine how trade finance differs from other forms of lending and the attractiveness of trade products to corporates as a form of working capital finance and even to banks, both regarding broadening client relationships and in the cost-effective use of their balance sheet.
Certified Trade Finance Specialist is an advanced level certification providing in-depth knowledge of trade finance products. Using case studies and with an emphasis on analysis of real-world scenarios, the certificate includes an intensive online programme and focuses on essential trade finance products, techniques, and compliance issues.
Sophisticated and practical applications of international finance principles and strategies.
Explores the export/import arena by identifying current trends in global exporting, recognize decent prices of goods in an international market, understand the risks involved with the various payment methods used and recognize how small businesses can compete with large corporations in today’s market.
Examine global ethics in business, and management’s need and use of international financial information. Evaluates international monetary policies, examines foreign exchange markets and forecast foreign exchange rates.
This program studies the complexities of international banking, money markets, futures and options on the foreign exchange along with interest rates and currency swaps. The individual seeking this certification will obtain an in-depth, well-rounded knowledge of global finance and claim the company role as the international finance specialist.
This course is accredited by The London Institute of Banking and Studies.
You might be interested in another Financial Programs as a next level.
CITF combines the acquisition of technical knowledge with the skills to apply that knowledge to real situations and has been developed in consultation with trade finance experts from across the world.
CITF enhances your knowledge of the products, documents, trade terms, roles and responsibilities that underpin international trade and finance. In addition to this core knowledge, the CITF course helps you to develop a basic understanding of fraud prevention and risk regarding trade finance.
Studying CITF covers:
*the trade environment and the role of the International Chamber of Commerce (ICC)
*ICC international model contracts
*an introduction to trade terms and Incoterms®
*the nature of financial, commercial and transport documents used in international trade
*risk and mitigation including foreign exchange hedging
*methods of payment including open account, collections, documentary credits and bank payment obligations
*short, medium and long-term trade finance
*Islamic trade finance
*dispute handling, arbitration, and resolution
*prevention of both fraud and money laundering.
Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.
CITF is assessed through a 2-hour paper-based actual exam split into two sections:
Section A – 80 multiple-choice questions
Section B – four case studies with 5 linked multiple-choice questions
CITF is examined at designated international centers in Dubai.
An overview of what is meant by world trade
A summary of the significance of market research in relation to trade finance
Buyer/seller selection in respect of trade finance
Credit inquiries in relation to trade finance
International rules, ICC rules and regulations
Issues faced in global trade markets (PESTEL analysis)
Risks involved in international trade
The different types of trade contract and when they would be used including proforma invoice, purchase order, sales contracts
The model forms of the sales contract sheet
The legal obligations of the parties under CISG 1980 (ICC publication 685)
Irrevocable Reimbursement Undertakings
Deferred Payment Letter of Credit
Revolving Letters of Credit
Back-to-Back and Transferable Letter of Credit
Standby Letter of Credit
Bank Guarantees and Bonds
The content of Incoterms 2000 and what is covered within the provisions of the principal trade terms
The roles and responsibilities of buyers and sellers
Financial documents, e.g., bills of exchange
Commercial documents, e.g., invoices, certificates of origin/insurance
An overview of what is meant by cargo insurance
Transport documents e.g. bills of lading
The features of documentary credits
The benefits and risks of different types of documentary credits
The financing opportunities available under documentary credits
The roles and responsibilities of parties involved in documentary credits
Bank credit facilities to sellers and buyers
Trade finance under open account trading
Invoice financing with recourse to the seller
Invoice financing without recourse to the seller
International factoring finance
The principles of discounting, forfaiting and leasing
Euro-bonds and euro-equities
The roles and responsibilities of the parties involved
The terminologies used for demand guarantees
The different types of demand guarantee and amendments to them
The nature of the independence principle of a guarantee
The operation for the application and issuance of a bank guarantee
The assignment of proceeds
The process for submission and examination of demand under a bank guarantee
The circumstances which apply on expiry of a demand guarantee
Recognise that bank guarantees can be issued subject to local law
How standby letters of credit cover the non-payment risk
How bank guarantees cover non-payment risk
The principles and rules of ISP98
The principles and rules of URDG
The significance of the risk of money laundering, terrorist finance, and fraud
The need for risk mitigation in foreign exchange
The usage of shipping guarantees and delivery orders
The cover provided by export credit and insurance, including short and medium-term export finance, credit insurance, buyer/supplier credit facilities and government-backed export credit/insurance schemes
The procedures and processes for dispute handling and arbitration 10.6 describe the trade promotion services available from banks
The importance of correspondent banking including settlement of payments
The remittance basis payments and the correspondent banking arrangement