Seminar on UCP 600 at Hyerabad
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After Delhi, Chennai and Mumbai, FIEO orgnaised another Seminar on UCP 600 at Hyderabad. The Southern Region office of FIEO oragnised this Seminar in association with State Bank of India on 11th July. The Seminar followed presentations on foreign exchange risk management. While welcoming about 100 exporter participants, Mr. Tapan Chattopadhyay, Dy. Director General of FIEO (Sothern Region) highlighted the importnance of UCP 600 and said that about a trillion dollar business was being transacted worldwide through documentary letter of credits. He advised the |
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Mrs. Sudha Sivan addressing the meeting. On the dais is Mr. Tapan Chattopadhyay. |
paritcipants to fuilly comprehend the revised guildlines on documentary credits under UCP 600 which were to come into effect from 1st July 2007. "UCP 600 would be followed universally and its non-compliance may lead to lots of rejection of L/Cs and hence delay in shipment or cancellation of orders," he added.
Whiel inaugurating the Seminar, Mrs. Sudha Sivan, General Manager, Mid Corporate Group, State Bank of India informed the participants about the various risk management services offered by her bank. Her colleague, Mr. C. Cenkata Nageswar, Dy. Gen. Manager & Head Regional Treasure Marketing Unit, SBI, Hyderabad made a presentation on foreign exchange risk management explaining about the products available to effectiely manage exchange risks.
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Mr. Narotham Reddy Rajidi, Faculty (Internatinal Banking), State Bank Staff College, Hyderabad, in his presentation threw light on the role of International Chamber of Commerce, the history of UCP, its revision process and major highlights of UCP-600. Another faculty from the College, Mrs. G Shanmuki, made a presentation on various services provided to exporters by SBI, including pre-shipment and post-shipment credits, gold card scheme, etc. |
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A view of the participants. |
After the prsentations, pariticipating exporters raised queries regarding forward contracts, third currency forward contracts, difference between right and obligation while contracting for option, types of options, risks assocaited with option, derivative and other transactions, discounting of deferred payment credits, bank to bank reimbursements, charges levied by banks on L/Cs, etc.
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Interactive Session with CONCOR August 17, 2007, New Delhi To apprise the CONCOR authorities of the various issues pertaining to logistics/infrastructure development which require immediate attention and resolution for boosting India’s exports, FIEO (Northern Region) is organizing an Interactive Session with CONCOR as per the schedule given below:
Day & Date : Friday, August 17, 2007 Time : 11.30 AM Venue : Niryat Bhawan, Rao Tula Ram Marg, Opp Army Hospital, Research & Referral, New Delhi-110057
Registration fee : Rs 300/- per person (inclusive of tea/coffee/lunch)
For more details and participation, please contact, FIEO (Northern Region) at 011-46042118, 46042121, 46042172 |
