Course Description
The course on the "Trade Finance" starts
with existence of trade from time immemorial, its trajectory of growth
from its nascent stage to its current level due to various innovations
and technological progress it has made over a period of time. Trade and
trade finance go hand in hand, as they are inter-related.
The
different types of Economic and Political risks alongwith other inherent
risks associated with trade are explained in detail by giving certain
examples from history of trade, for easy understanding and capturing of
the subject, by the new comers in the field as also, it helps to refresh
the subject for the veterans in the field. Risks of buyers and sellers
in trade finance are shown by way of suitable diagrams. The hints about
interests of both sellers and buyers in trade are also narrated. The
various methods of mitigating risks by banks like, taking insurance,
obtaining credit reports of the new buyers to know their net worth, past
history about payment settlement for transactions, need of mentioning
all relevant details of the sales / purchases, terms of payment and
delivery, before concluding a contract, advising to book a forward
contract to hedge against any adverse currency fluctuation, seeking
legal opinion from experts, for more clarity, which are important
aspects of a trade finance, are narrated in detail.
The role of
ICC in the trade finance giving clear cut definitions of various terms
of trade, entities involved in the trade, their responsibilities, its
publications for reference and settlement of disputes among the trade
partners is very vital and significant as these clauses are accepted as
the final verdicts on the subject.
Narration of different types of
LC and its use under relevant occasions during the trade, mitigation of
risks involved in the trade, are explained in detail. The significance
of exports of a country and how they will affect the Balance of Payment
position of that country is explained and the reasons to boost the
export trade of a country are narrated for easy understanding of a new
comer in the field. How and under what conditions, a Preshipment finance
or Post shipment finance is given to an exporter, are narrated in
detail.
The various terms of INCOTERMS used in the trade are
explained, so also what is Forward and how a forward contract mitigates
the risk of exchange rate volatility, is explained well.
What is
SWIFT, its role in today's world for faster communication among banks,
various types of messages used through Swift and codes used for typical
message type etc. are explained for the benefit of the listeners /
readers.
What kind of import finance is given by banks / Financial
Institutions worldwide, how are guarantees issued by a bank and what
precautions are to be taken at the time of issuing the guarantees by a
bank, are of prime importance, since it affects very badly on the
position of a Banks' balance sheet on its invocation, are clearly
explained.
Curriculum
Section 2: Learning about Trade Activities
Basic of Trade and Trade Finance
Continuation of Objectives of Buyer and Seller
Continuation of Risks Involved in Trade
Definition of Trade andTrade Finance
Obectives of Trade
Objectives of Buyer and Seller
Risks involved in Trade
Section 1: Introduction to Trade Finance
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