Thrust on skilled, efficient, trained manpower for business houses
Sunday, 15 March 2009
Terming letters of credit (L/Cs) as indispensable documents in international business, former president of the Dhaka Chamber of Commerce and Industry (DCCI) MH Rahman stressed the need for skilled, efficient, knowledgeable and trained manpower for every business house.
Mr Rahman made the observation while speaking at the concluding ceremony of a training course organised by the DCCI Business Institute (DBI) on 'Proper L/C Procedures for Import and Export Operations' in the city recently, said a press release.
Considering the competitiveness in global market the main activities of business houses are purchasing, marketing and knowing domestic and international procedures for export and import, he mentioned.
He told participants that even a little carelessness in opening or preparing L/C on the part of a company may lead to a huge loss in their business.
He urged the participants to disseminate ideas and knowledge they have gained through the training course among their colleagues and staff with a view to enhancing skills to sharpen the competitive edge.
The course aims at familiarising the topics namely, Letter of credit (L/C) operation and settlement mechanism; different types of L/Cs and obligations of different parties involved in L/C; advising and confirming export L/Cs; back to back L/C, exercise on back to back L/C, scrutiny lodgement, retirement of import bills; export financing and type of pre-shipment finance; pre-shipment and post-shipment export financing under L/C; negotiation of export documents; international trade policy and procedures, INCOTERMS, UCPDC - 600 and mode of payment of export bills under L/C.
A total of 34 participants from different business organisations and individuals took part in the course, the release added.
Mr Rahman made the observation while speaking at the concluding ceremony of a training course organised by the DCCI Business Institute (DBI) on 'Proper L/C Procedures for Import and Export Operations' in the city recently, said a press release.
Considering the competitiveness in global market the main activities of business houses are purchasing, marketing and knowing domestic and international procedures for export and import, he mentioned.
He told participants that even a little carelessness in opening or preparing L/C on the part of a company may lead to a huge loss in their business.
He urged the participants to disseminate ideas and knowledge they have gained through the training course among their colleagues and staff with a view to enhancing skills to sharpen the competitive edge.
The course aims at familiarising the topics namely, Letter of credit (L/C) operation and settlement mechanism; different types of L/Cs and obligations of different parties involved in L/C; advising and confirming export L/Cs; back to back L/C, exercise on back to back L/C, scrutiny lodgement, retirement of import bills; export financing and type of pre-shipment finance; pre-shipment and post-shipment export financing under L/C; negotiation of export documents; international trade policy and procedures, INCOTERMS, UCPDC - 600 and mode of payment of export bills under L/C.
A total of 34 participants from different business organisations and individuals took part in the course, the release added.