The New Nation - Internet Edition

BUSINESS REPORT

Director and Immediate Past President, DCCI MA Momen told that knowledge of L/C is essential as an indispensable document in international business.

He said this at the closing ceremony of the training course on 'Proper L/C Procedures for Export and Import Operations' organised by the DCCI Business Institute (DBI) on June 30 at institute premises. Considering the competitiveness in the global market our main activities are to reduce lead time avoid unwanted hassle and knowing domestic and international procedures for L/C.

He said that we need skilled efficient and trained manpower. He told the participants that even a little carelessness about L/C on the part of company may lead to unwanted difficulties in their business. He urged the participants to disseminate ideas and knowledge they have gained through training course among their colleagues, managements with a view to enhancing skills in the competitive edge.

Momen briefed the participants about the need for continuous trainings to update themselves about the changes in the business practices. He highlighted the importance of reviewing training contents. He added that DCCI would consider the suggestions of participants in planning future training programmes of DBI.

Md Hossain Ali said that in the era of globalisation greater knowledge of business practices and specially international trade is required for the survival of local industries through competitiveness. He invited the participants to take part in the other training programs of DBI like short trainings on business, supply chain courses of ITC Geneva and EMBA.

Joint Secretary (Project and Training) and Course Co-ordinator Md Jawadur Rahman Choudhury moderated the closing sessions.

The course was aimed at familiarizing the topics: Letter of Credit 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- Type of pre-shipment Finance; Pre-shipment & Post-shipment Export Financing under L/C; Negotiation of Export Documents: International Trade Policy and Procedures, INCOTERMS and Mode of Payment of Export Bills under L/C and so on. A good number of participants from different organizations attended the training course.