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Certified Trade Finance Specialist (CITF®)

Certified Trade Finance Specialist (CITF®)

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.

YOU WILL LEARN HOW TO

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.

IMPORTANT COURSE INFORMATION

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.

Assessment

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.

COURSE OUTLINE

Modules

Module 1: The Fundamentals of Trade Finance

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

Module 2: Understand the procedures involved in Trade Contracts

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)

Module 3: Letter of Credit

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

Module 4: Understand the trade terms and Incoterms 2000

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

Module 5: Understand the nature of financial, commercial and transport documents used in international trade

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

Module 6: Understand the nature of documentary credits

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

Module 7: Understand short-term, medium-term and long-term trade finance

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

Countertrade

Commercial paper

Euro-bonds and euro-equities

Module 8: Understand what is meant by bank guarantee

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

Module 9: Appreciate other issues associated with international trade products

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

 

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