...procurement. Besides, the export oriented industries have been exporting their finished goods throughout the world. Exports and Imports involve a lot of technicalities because this takes place between two countries, under different situations, rules and regulations and culture. As such, export-import transactions call for proper understanding and in depth knowledge of various technical aspects including Letters of Credit Operations. To learn these theoretical aspects and for sharing of many other practical details regarding export and imports from the experience of a professional - executive this training has been arranged. Training Objectives: This training aims at: • Why and how domestic trade and international trade differ; • The various international trade payment methods including open account payment terms; • The role of bill of lading in international trade; • Differentiate between the documents that are documents of title to goods and those that are not. • Letters of Credit –its origin, meaning & types. • Role and responsibilities of the parties involved. • Import Procedure/The process involved in a letter of credit cycle. • Documents used in international trade. • How to examine documents? • Incoterms -2010 • UCPDC-600 • ISBP-681 • Export Procedure • Financing of Export.: Pre-shipment & Post Shipment finance • Export Incentives • Dealing with Discrepancies • Options Available to the Exporter When Documents are...
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... Case Study: Functional Overview on Letter of Credit Author: Deepak Seeruwani, Consultant Contributors: Naveen Rangineni, Consultant Skill Level Rating for this Case Study: Intermediate About Oracle Customer Submitted Case Studies Oracle Customer Submitted Case Studies are intended as learning tools and for sharing information or knowledge related to a complex event, process, procedure, or to a series of related events. Each case study is written based upon the experience that the writer/s encountered. Customers should not interpret or use information in these case studies as solutions or recommendations without first contacting Oracle Support. Each Case Study contains a skill level rating. The rating provides an indication of what skill level the reader should have as it relates to the information in the case study. Ratings are: • Expert: significant experience with the subject matter • Intermediate: some experience with the subject matter • Beginner: little experience with the subject matter Case Study Abstract This case study will provide a practical guide to letters of credit and as there is no functionality as of now to use Letter of Credit as a means of payment which is increasingly being used, a workaround in Oracle Payables to handle payments through Letters of Credit. Within its limitations it is hoped that: • This paper will serve as a basic tool in understanding letters of credit and • The solution giv...
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...plus loan requested amount form and send them back to me as soon as possible. If you choose not to accept, we will provide you with alternative loans options. Alternative loans require that either the student is credit worthy or the student obtains a credit worthy co-signer. Most students will need a credit worthy co-signer. Should you have any questions or concerns, please feel free to contact me at 1-800-275-2474 ext: 6380 or via e-mail at chatten@aii.edu. Thank you for your time and immediate consideration to this paperwork. Dear Parent, I have applied you for the Federal Parent PLUS Loan on Sallie Mae’s website. However, your credit decision is in a pending status. This means that you need to call Sallie Mae’s Parent Answer Service at 1-800-891-1410 as soon as possible and give them any personal information that they need. Once this information is given to a Sallie Mae representative, they will be able to give you an approval or denial. If you are approved for the PLUS loan, it is up to you if you would like to take it out for the first academic year. Your deadline to call Sallie Mae to get your PLUS loan out of pending status is ten days from the date of this letter. Thank you for your time and immediate...
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...Export Credit Insurance: A literature review Name: Jordi van Dijk, ANR number: 361473 Course: Finance for Premasters 1 INTRODUCTION 1.1 INTRODUCTION 1.2 RESEARCH QUESTIONS 1.3 INDUSTRIAL REVOLUTION AND INTERNATIONAL TRADE 1.4 RELATION CREDIT INSURERS AND OPEN ACCOUNT TRANSACTIONS 3 3 3 3 4 2 BUSINESS ON OPEN ACCOUNT: WHAT ARE THE REASONS? 2.1 TRADE CREDIT INSTEAD OF BANK LOANS 2.2 TRADE CREDIT AS A SECURITY 2.3 TRADE CREDIT AS A SUBSTITUTE OF BANK LOANS 4 4 4 5 3 THE RISE OF EXPORT CREDIT INSURANCE 3.1 UNITED KINGDOM INITIATOR OF EXPORT CREDIT INSURANCE 3.2 HISTORY OF EXPORT CREDIT INSURANCE IN THE U.S. 3.3 THE RISE OF PRIVATE CREDIT INSURERS 5 5 6 7 4 CREDIT INSURANCE AND OTHER CREDIT RISK MITIGATION TECHNIQUES 4.1 AVAILABLE COVERAGE’S IN THE CREDIT INSURANCE MARKET OF THE NETHERLANDS 4.1.1 Commercial risk 4.1.2 Political risk 4.1.3 Fabrications risk 4.2 INTRODUCTION OTHER TECHNIQUES TO MITIGATE CREDIT RISKS 4.2.1 Letters of ...
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...|Subject Code |Subject Title |Marks |Credit | | |Business Communication and Report Writing (In English) |100 |4 | | |Computer and Information Technology |100 |4 | | |Taxation in Bangladesh |100 |4 | | |Business Statistics (In English) |100 |4 | | |Macro Economics |100 |4 | | |Human Resource Management |100 |4 | | |Viva-Voce |100 |4 | | |Total = |700 |28 | |Course Code | |Marks: 100 |Credits: 4 | Class Hours: 60 | |Course Title |BUSINESS COMMUNICATION AND REPORT WRITING...
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...Superintendent YISD 123 Fake Street El Paso TX, 79936 Dear Dr. Gomez: Financial Literacy of El Paso (FLEP) is pleased to present this proposal for services to support the City of El Paso in achieving its goals for improving the financial literacy from youth to senior citizens by providing advocacy, research, standards and educational resources. The objective of the proposed personal high school finance class is to help high school students develop the ability to use knowledge and skills to manage financial resources effectively throughout their lifetime. In the past, high school students have been required to take an economics class which helped them get a basic understanding of the world of economics in today's world. We are now seeking to have a finance class which will not only help students get a basic understanding of finance but help students use the skills they develop to help them manage their personal finances responsibly. FLEP has partnered up with GECU, a local financial institution, to make this class possible. The class will teach students the basics of finance as well as teach students how to spend, invest, and save money effectively. The class will include setting up savings and checking accounts with GECU for the students and provide them with special support with their accounts. Our proposal requests that the FLEP personal high school finance class be a required course in the high school diploma curriculum. Thank You, Sincerely, Omar Gonzalez Cynthia...
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...Margaret Caldwell 2789 Arviara Park-way Carlsbad, CA 92008 Dear Mrs. Caldwell We received your letter on November 11 regarding the transactions made at Wilson’s Gourmet market. It’s our priority to thoroughly investigate situations which inconvenience our customers with any of their accounts. Our goal is to continuously improve our services and protect our clients from erroneous transactions. Unfortunately, due to the nature of some transactions common amongst our clientele, we are unable to credit a reimbursement. Our assessment based off the analysis conducted of all the information surrounding your claim, we have verified that the transactions with reference number 1440022-22839837109 were three separate transactions made on the same day at Wilson’s Gourmet market. Transaction numbers generated by this vendor are produced daily, not hourly, so the purchases made on the day of these transactions; $23.02, $110.95, and $47.50 retain the same transaction number. In addition, we conducted an investigation on the vendor’s register and credit machine which concluded that they were operating correctly and without miscalculation. We are very sorry to inform that we will not be able to approve a refund of $181.47 to your checking account, because these charges were not a result of the bank or merchant error. You are a valued customer and...
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...intracen.org Postal address: Telephone: Fax: E-mail: Internet: HOW TO ACCESS TRADE FINANCE A GUIDE FOR EXPORTING SMEs Geneva 2009 ii ABSTRACT FOR TRADE INFORMATION SERVICES 2009 F-04.03 HOW INTERNATIONAL TRADE CENTRE (ITC) How to Access Trade Finance: A guide for exporting SMEs Geneva: ITC, 2009. x, 135 p. Guide dealing with the processes involved in obtaining finance for exporting SMEs – explains the credit process of financial institutions from pre-application to loan repayment; examines the SME sector and barriers to finance, as well as the risks in lending to the SME sector as perceived by financial institutions; addresses SMEs’ internal assessment of financial needs, determining the right financing instruments, and finding the appropriate lenders and service providers; discusses how to approach and negotiate with banks; tackles cash flow and risk management issues; includes examples of real-life business plans and loan requests; includes bibliography (p. 134). Descriptors: Trade Financing, Export Financing, Export Credit, Risk Management, SMEs, Manuals. English ITC, Palais des Nations, 1211 Geneva 10, Switzerland The designations employed and the presentation of material in this publication do not imply the expression of any opinion whatsoever on the part of the International Trade Centre concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of...
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...- Mission Statement of the Credit Function Definition The mission statement is the statement of purpose. What is your department trying to accomplish? The mission is not a statement of your goals. Your goals are put into place to support the mission. The mission statement describes in what ways you are supporting or interacting in the overall company's mission. It defines your role in the unified vision. Illustration A Company with high margins and an aggressive sales growth target may have a mission statement like this: The mission of the Gorman Inc. credit department is to facilitate an annualized 20% growth in top line performance by assisting in the sales process. The credit department's role is to develop strong customer relationships by granting aggressive but appropriate credit limits and terms, easing the establishment of new accounts by processing applications quickly while protecting the margins by managing risk of loss represented by fraud, failure or severe delinquency Developing a Mission Statement Before a mission statement can be adequately defined, a general understanding of the environment or market in which your company operates must be obtained. In developing the mission statement, there needs to be a basic understanding of the following: A) B) C) D) E) F) Nature of the Marketplace Competition Location of your Customers Growth Plans Margins Internal Company Structure Exploring these areas will ensure that your credit department's mission statement...
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...Unit 3 – globalEDGE Chapter 14 Exporting Exporting can help play a major role in business development and growth, as well as influx into the economy that the firm does business in. Reduction in tariff barriers, lower transportation cost, and economies of scale have all helped exporting become an even bigger player in the field. When considering exporting as an option for the firm, one must consider several things, including but not limited to, the advantages and disadvantages of exporting, how to approach exporting, how to manage the transactions, what the payment methods are, and be prepared to make some adjustments and/or changes to the product to cater to the target market they are entering. Some of the challenges involved with exporting are advantages and disadvantages. It is up to the firm to decide which outweighs the other before moving forward with the decision. Advantages include the ability to diversify the client base and create new opportunities for sales. When a firm becomes saturated in their current market, they might hit a plateau. One of the ways around that is to go to a new market. There is an increase in sales and profits by selling goods and services to a market the company never had before boost sales and increases revenues. In addition, foreign sales over the long term, once export development costs have been covered, can increase overall profitability. Firms can also benefit with lower costs per unit. The foreign market will allow the firm...
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...International Business Management Section A: Part One: 1. What is the series consideration for strategy implementation? 2. The major activity in global marketing is: d. All of the above 3. 3. The third „P‟ in the international marketing mix is: d. Place 4. The European Economic Community was established in____________ d. 1957 5. Environment Protection Act on______________ a. 1986 6. People‟s attitude toward time depend on: 7. Culture necessitates adaption of : 8. The legal term for brand is: All of the above 9. FDI flows are often a reflection of rivalry among firms in____________ 10. ISO certification is: d. Both (a) & (b) Part Two: 1. What do understand by „Inward-oriented Policies An inward- oriented policy, usually , means over protection. What is less obvious is that sheltering domestic industries puts exports at a great disadvantage because it raises the cost of the foreign inputs used in their production. Moreover, an increase in the relative costs of domestic inputs may also occur through inflation or because of appreciation of the exchange rate as import restrictions are introduced. In practice, the distinction between inward-looking and outward looking approaches gets blurred. Most of the less developed countries have employed both strategies with different degrees of emphasis at one time or another 2. What is „Factor Endowments Theory‟? The factor endowments is a “modern” extension of the classical approach and attempts to explain the...
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...INTERSHIP REPORT ON MCB BANK LIMITED U.P MORE BRANCH KARACHI BY MISBAH NOOR M.COM (FINANCE) DEPARTMENT OF COMMERCE JINNAH UNIVERSITY OF WOMEN 12TH SEP, 2013 ACKNOWLEDGEMENT All praise to Allah, the Beneficent, the merciful, and respect for His Prophet “Peace Be upon Him” who made us recognize our creator. I am also thankful to all the staff members of MCB who provided me a friendly and knowledgeable environment through which I have learned a lot. DEDICATION | My all internship work is dedicated to all the staff members of MCB U.P MORE BRANCH (1421) Karachi. * Shahvaiz Siddiqui (Operation Manager) * Farhana Ansari (Supervisor) * Mohsin Saleem, Shazia Asif, Mohammad Muslim (General banking officer) * Shoaib Damri (Clearing) * Saad. Faraz (Customer Service Officer) They are too much supportive and teach me how to learn a practical life. They always give me different tasks which bring more knowledge to me and guide me how to accomplish these tasks. EXECUTIVE SUMMARY MCB bank limited has a solid foundation over 60 years in Pakistan with a network of over 1150 branches over 850 of which are automated branches, over 350 MCB ATMs in 41 cities nationwide and a network of over 12 bank on the MNET ATM switch. MCB operation continued to be streamlined with focus on rationalization of expenses, re-alignment of back-end processing to increase productivity, enhancement of customer service standard, process efficiency and...
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...Understanding the Collection Process June 3, 2012 HCR/230 Step 1 Track overdue bills by reviewing the patient aging report Ssss More than 90 days past due Past due 61- 90 days Past due 31 to 60 days Up to date or current (over due 30 days) Step 2 Bill the patient, they may not know that bill is overdue therefore this is the first notice to patient . Step 3 Send out letter to patients Step 4 Send out a second letter, remind the patient that their bill is past due, and a statement showing the patient their past account activity. Follow up with phone call using effective method to make payment arrangements be straight forward during the call, let the patient know status of their account and what all needs to be done to be taken care of, let patient respond, always be in control of the conversation, don’t let patient get too far off topic, let patient know that the outstanding bill will not affect the quality of treatment they receive. Remind patient of payment options and their responsibility to pay Brief and straight to the point Be professional, courteous Step 5 Send out 3rd letter, let patient know that their account is seriously pass due and that it will be sent to collections and that collections can affect their credit rating. Let them know that if they can’t pay in full to call to make payment arrangements. Also let them know that...
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...IPO Process in Bangladesh Submitted to: Md. Lutfur Rahman Assistant Professor, Department of Business Administration, East West University, Dhaka. Submitted by: Name | ID | Arafat Rauf | 2009-2-10-345 | FIN 335 Section: 3 Fall: 2011 Date of Submission: 15th December 2011 Executive Summary | This term paper gives us a practical experience while passing through the theoretical understanding. The report is the result of our understanding about what are IPO and IPO listing procedure in Bangladesh. In the introduction, we have briefly discussed about IPO. What it is. In the next we have also explained the methodology regarding this report. Secondary data and information have been used in preparing this report. Then comes the Analysis part, where we have explained the listing procedure. We have divide listing procedure in two Parts according to their behavior, one is work before Consent and another in work after consent. In the whole listing procedure, the works are separable like work before IPO consent and work after IPO consent. Like all study, this report has also certain limitations which were in some cases unavoidable. In the end we have concluded with a short discussion of overall analysis. Table of Content Content | Page Number | Introduction | 4 | Methodology of the Study | 4 | Analysis | 5 | Conclusion | 9 | Bibliography | 10 | Introduction | Initial public offering (IPO), also referred to simply as a "public offering"...
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...31602 Dear Ms. Sandusky, I am sending this letter in regards to a promotion by your company. In the ad, it stated we would receive free sample products. However, when I called your company I was asked to give my credit card number. It was only after I received the items that I was made aware what the arrangement truly was. It has since come to my attention that a mistake has been made concerning a payment taken from my account. When I first read your ad, I wanted to believe I had nothing to lose. Unfortunately, I was mistaken. I ordered several sample items on January 11. These included an insulated lunch sack, a portable power strip, and two garment-dyed sweatshirts. When I received your products, it was then I was notified I had to pay for the sample items if I decided to keep them. After further observation and consideration, I decided to return the products. On February 5, I received my credit card statement and noticed a charge of $258.20 from your company. I called immediately and spoke to Virginia. She assured me multiple times that the money would be credited back to my account, and that I should expect to see the credit on my next statement. I received my next statement March 3 and did not see the credit. Again I called, this time speaking to Melissa, who again assured me the money would be credited to my account. It is now April, and upon receiving my latest bank statement, I have still not received the credit I was promised. I have to say I am very pleased...
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