Mastering INCOTERM® 2020 and Letters of Credit

24 Feb, 2021, Webinar Classroom Training

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TAN KOK TEE
MBA-Finance, FAIA, MIPA, AAFA, MCCS, ACTIM, CICA
International Accountant (UK),
Public Accountant (Aust.)
Certified Company Secretary.
HRDF Certified Trainer
Registered GST Agent.

 

MR. TAN KOK TEE has 40 years of working experience in Accounts & Financial, Strategic and General management field. He has held a variety of leadership and senior management roles in various organizations, starting in the Accounts & Finance Department until CFO level and the last being Group Chief Executive Officer. More than half of these time are spend in the Manufacturing, Marketing & Distribution and Services organizations, including those with the then Inchcape Timuran Berhad, Metroplex Berhad, and Perdana Industries Berhad. Mr. Tan has also been a hands-on SST practitioner during the SST01 regime until its abolition.

 

He is a Fellow member of the Association of International Accountants, UK; Fellow Member of the Institute of Public Accountants, Aust.; Member of the Chartered Tax Institute of Malaysia; Member of the Malaysia Associations of Company Secretaries (M) and a Gold Mastery Holder in Reinventing Strategic Planning and Management from the Haines Centre for Strategic Management, sponsored by University of San Diego, USA.

 

He is also a Certified Trainer with PMSB’s (HRDF) since 2009, was a GST Agent registered with MOF & Holder of the GST MyGCAP certificate from RMCD and a Life Member of the Malaysian Institute of Directors.

 

Mr. Tan has been involved in Advisory, Training and Facilitation on an ad-hoc basis from 2009-2013, and full time from 2014 to now.

 

To-date he had conducted about 400 training workshops throughout Malaysia on topics on GST; SST; Practical Accounting for Accounting Staffs; Reading, Analyzing and Interpreting Financial Statement; Accounting and Finance for Non-Accounting Managers; Customers Credit Evaluations and Collection Strategies; Incoterms, LC Operations and Trade Financing; Reinventing the Strategic Planning and Management and Financial Statement Hands On Application to MBRS, for both in-house as well as public, including to Government Authorities, Chamber of Commerce, Government Link Companies, Banks, Malaysian Institute of Accountants, Chartered Institute of Management Accountants, CPA Australia, Malaysian Institute of Chartered Secretaries and Administrators, Selangor State Human Resource Development Centre (SHRDC), Negeri Sembilan State Skills Development Centre (NSSDC), Penang Skill Development Centre (PSDC), NGOs and many others public training providers. Through them, I have conducted training for Shin Yang Group, Bintulu Port, Deleum Bhd., Boustead Plantation Bhd., Takahata, FBK Manufacturing, Brothers Industries, Integrated Logistics, Mega Logistics, Chung Hwa Picture Tubes, Ohara Melaka, Safran Aerospace, NEC Corp. of Malaysia, Kobe Precisions, Techtronic & Sons Holdings, Julies Biscuit, Ornapaper Melaka, Sunway University and many more.

 

To-date more than 15,000 personnel ranging from Directors, Senior to Junior Managers and Executives, Supervisors and Assistants had benefited from his training and he was the Lead GST Trainer for Malaysia Export Academy in 2014-2015.

 

He also developed and delivered an entrepreneurship program specially designed for MBA students from GC University, Pakistan in collaboration with Sunway Education Group for period 2010 to 2014 and was an invited speaker for the Asian Financial Controller’s Congress in 2009, 2010 and 2011.

Venue Details

Webinar Classroom Training

Contact us

Juliany,
M - 012 2281 247
juliany@ipa.com.my

Michelle,
M - 019 363 7822
michelle@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Yvonne,
M - 012 201 1247
yvonne@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • INCOTERM 2020
  • LC OPERATIONS
INTRODUCTION

International trade is a risky business if traders do not know how to interpret where their risk starts and stops. It is not just about buying and selling, but also all cost, task and responsibilities along the entire supply chain. Hence knowing the rules in each Incoterm and its application to Supply Chain is of paramount importance.

 

Traders will also have to ensure that payment from overseas customer can be effected when it is due. Hence the use Letter of Credit (L/C) to mitigate this collection risk. However, LC comes with a lot of terms and conditions, especially on deadlines and documentations, where the exporter needs to comply.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Gaining knowledge on the different international commercial terms (INCOTERMS®) and its application along the supply chain.
  2. Understanding the detail procedures of how an L/C works and how to avoid making mistakes to save time and cost.
  3. Understanding the LC format under the Swift Code and key UCP terms where LC is issued under.
  4. Gaining practical knowledge to compliance with LC terms and conditions.
WHO SHOULD ATTEND
  • Account Executives, Accounts Supervisors, Accounts Assistants
  • Internal and External Audit Staffs
  • Procurement and Sales personnel
  • Import and Export Department Staffs
  • Entrepreneurs and any other personnel who wants to have in sight knowledge of Incoterms 2020.
METHODOLOGY
  • Participative and active lectures, group discussions, and free flow of questions.
COURSE CONTENT
9:00

INCOTERM 2020

  • What are Incoterms and its application?
  • What does Incoterm term covers and its relationship with insurance?
  • The difference between Incoterm 2020 and Incoterm 2010
  • Detail Explanation of the 11 Incoterm 2020
  • When Sales can be recognized in Accounting under each Incoterm?
  • When Assets (goods) can be recognized in Accounting under each Incoterm?
  • Case Study Analysis
1:00 Lunch
2:00

LC OPERATIONS

  • What is an LC and its purpose in international trade?
  • Does LC provides full security for payment from customers?
  • Parties to LC in practice
  • How is LC operated in serving its purpose?
  • Reading and understanding the different terms and conditions of the LC.
  • Collection (Payment) risk for non-compliance of LC terms and conditions
  • Practical TIPs on how to comply with such terms and conditions to get paid quickly and avoid discrepancies in negotiation.
  • Case Study Analysis
5:00 End of Course