News

Upcoming Workshop: In-Depth Studies of Incoterms and Letters of Credit

Forum on site in Sioux Falls or via live-stream webinar

 

EVENT INFO 

 

Date:  Wednesday, February 28, 2018  |  8:30 am – 4:30 pm CST

Registration:  8:00 AM - 8:30 AM CST

Morning Session:  8:30 AM - 12:00 PM CST

Networking Lunch:  12:00 PM - 12:45 PM CST

Afternoon Session:  12:45 PM - 4:30 PM CST

 

Location:
University Center, Avera Hall   |   4801 N Career Avenue   |   Sioux Falls, SD 57107

Parking is available in the student lot, west of the building just over the bridge

For those attendees wishing to stay in Sioux Falls the evening before and/or the evening of the event, please contact Rock Nelson, as he has access to special pricing at the Downtown Holiday Inn City Centre for $99.00 + tax per person per evening.

  

 

REGISTRATION FEES

 

Onsite  

Morning Session - $125 (tax included)

The Importance of Sales Terms - Incoterms ®

 

Agenda   

  • Key definitions
  • The Proforma Invoice
  • Incoterms®
    • What are they?
    • What aren't they?
    • Dos and Don'ts
  • UCC Terms
    • What are they?
    • What aren't they?
    • Dos and Don'ts
  • Incoterms® - Grouping
  • Incoterms® - One-at-a-time
  • Incoterms® - Summary Grid
  • Matching Payments with Incoterms®

What you will learn:

  • Why you should avoid EXW and DDP 
  • The 10 responsibilities of buyers and sellers
  • The two most common misconceptions about Incoterms® 
  • How a company lost $176,000 with the wrong Incoterm®
  • How to match the right Incoterm® to payment terms
  • How to use an Incoterm® when you want control of a shipment
  • How the use of an Incoterm® affects revenue recognition

 

Afternoon Session - $125 (tax included)

Agenda 

  • Letters of Credit - what they are and how they work
  • Discover the difference between a Documentary Collection and a Letter of Credit
  • Commercial Letters of Credit vs Standby Letters of Credit
  • Other Types of Credits (Revolving, Transferable, Back to Back, Usance, etc.)
  • Common documents to a Letter of Credit and how to avoid discrepancies on those documents
  • Understand the roles of the different banks involved in the Letter of Credit process
  • The SWIFT system for sending and receiving credits 
  • Understand the advantages and disadvantages of using Letters of credit  
  • Learn the rules that govern Letters of Credit 
  • Actual Letter of Credit Case Studies

What you will learn

  • What documents will be required in a letter of credit and who determines that?
  • What does an "irrevocable" credit really mean?
  • What is a "confirmed" letter of credit and who "confirms" the credit? How does the confirmation help the beneficiary?
  • What constitutes the "shipment date" on an air way bill?
  • How does the beneficiary get an amendment to a letter of credit if he needs one?
  • What options does a beneficiary have when there are discrepancies in the documents on a Letter of Credit.

 

 

All Day - $250 (tax included)

 

Onsite registration includes all reference material, morning pastries, coffee, juice and lunch. Seating is limited. Registration form and payment required to guarantee your seat.

 

Webinar

Morning Session - $100 (tax included)

Afternoon Session - $100 (tax included)

All Day - $200 (tax included)

 

Click here to register! 

Have questions or concerns about the webinar format or the technical requirements to attend via webinar? Please contact:
 

Rock Nelson

International Marketing Director of the Sioux Falls Development Foundation and Sioux Falls Area Chamber of Commerce | Director of South Dakota's International Trade Center

S.B.A. Certified in Export and Trade Counseling | Certified Global Business Professional

 #1 West Weather Lane, Suite #400     |     Sioux Falls, South Dakota, 57104

Telephone/Fax: (605).338.3424     |     Cell Phone: (605).941.6696

rock@siouxfalls.com     |     www.internationalportinfo.com     |     www.usd.edu/sbdc

  

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