Trade Fraud Prevention

Course details

Discover the art of identifying fraudsters by learning some language which they often use in their correspondence and master the art of defending yourself against the trap of frauds

HIGHLIGHTS

• Defining Fraud
• Why is Documentary Credits Fraud so popular?
• The “Fraud Exception Rule”
• What is interlocutory injunction and what standard of proof should be given 
• to the Court to obtain such injunction so as to prevent the Issuing Bank 
• from paying under their letters of credit?
• Who is holder in due course?
• Who is holder in value?
• Who is holder without value?
• Does the Fraud Exception Rule apply to them?
• How to Avoid Frauds?
• How to minimize the risks of fraud.
• The Fraud Exception – Legal analysis of English Law approach.
• How should an Issuing bank, confirming bank, negotiating bank and presenting bank act for 
• its best interest when frauds are uncovered?
• How should an Applicant, Beneficiary or Other Party act for its best interest after frauds 
• have surfaced?
• Do you know which article of UCP 600 fraudsters, or sellers in financial crisis use to get 
• payment from the banks, producing fraudulent but compliant documents against inferior goods, 
• rubbish goods or no goods at all?
• Know how banks take precaution for you when they open letters of credit on your behalf.
• How do banks mitigate the fraud risks after having opened the letters of credit?
• Some famous legal cases including Solo Industries and Rostagi Bros

WHAT YOU WILL OBTAIN

• Real life examples and interesting case studies
• A chance to discuss and clarify your doubts, questions, trade issues etc.
• Complete study material
• Quality refreshments and lunch
• Certificate of attendance
• Networking opportunity with banking and trade professionals

WHO SHOULD ATTEND

All who are involved in Commercial dealings with Customers or Suppliers.

• Importers or Exporters 
• Logistics Staff
• Finance Staff 
• Bankers
• Insurance Companies - Staff
• Administrative staff involved in drafting commercial documents