All US persons must comply with Office of Foreign Asset Controls (OFAC) regulations. The US Department of the Treasury, through OFAC, administers and enforces economic and trade sanctions based on US foreign policy and national security goals. Enforcement actions are taken against foreign countries and regimes, terrorists, international narcotics traffickers and those engaged in activities which threaten the national security, foreign policy or the economy of the United States. How sanctions and embargos are imposed and enforced based on specific US foreign policy and national security goals is addressed. Further, the due diligence steps necessary to avoid costly violations and/or imprisonment are reviewed.
End Users, Due Diligence & Necessary Documentation in the Event of an Audit, Best Practices
This course segment explores the authority of OFAC, as well as authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under US jurisdiction. Many sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments. Best practices for maintaining documentation in the event of an audit or an enforcement action that may involve a supplier or a customer are also discussed.
International Investigations & Best Practices by Region
The best practices on the collection of intelligence and information for effective risk management and strategic planning are presented. The instructors provide advice based on their extensive experience on how to manage or avoid risk within various industries and geographic trading regions.
Using International Business Ethics to Strengthen Business Relationships
Gain regional and broad understandings of the various areas of the world to obtain necessary documentation and information on a global scale. Students are given practical methods to obtain information dependent on the area of the world and the various cultures in those regions. Additionally, the ability to recognize distracters that keep credit managers from successfully doing business around the world is taught.
The foreign exchange market is a global market for trading currencies and determines the relative values of different currencies through a trading platform. How does the FX exchange market assist in facilitating international trade and investment? What impact can Foreign Exchange speculation have on the value of currencies, based on the interest rate differential between currencies? This course segment probes the intricacies of the "interbank market."
FX "The Balancing Act"
This session focuses on the impact of rapid and large flows of "hot money" on currency values due to changes in interest rates, GDP growth, FX reserve balances, trade surplus/deficit balances, current account balances, large cross-border mergers and other economic conditions. How the recent global "sovereignty" issues have impacted the currency values and currency availability of specific countries is also examined.
Through case studies, examine the global environment of ongoing elevated sovereign risk and the implications for banks and corporations doing business in specific countries. Sovereign credit risk has become a significant issue for European banks, and over coming years will affect global financial stability. The tools available to reduce the risks of non-payment are addressed.
Political Risks, Recent and Upcoming Events
Historically, specific political risk events have been virtually impossible to predict. The options available to manage and mitigate the risks of expropriation, nationalization and embargoes in various hot spots across the globe are explored.
This session evaluates the various payment methods available when doing business internationally. Each method is examined exploring: the costs, administrative aspects, the level of risk of getting paid and the expected time frame for collection.
Creative Finance Structures
Discuss sophisticated finance packages to offer your clients to increase sales for various industries/products. Options to increase sales and speed collections, enhancing your company's bottom line, are reviewed.
The proper use of Incoterms in the various modes of delivery is reviewed in this segment. Learning to avoid costly mistakes in the transfer of documents can help you maintain control of your global shipments.
Incoterms and In-depth Review of Responsibilities, Obligation, Charges and Transfer of Title
This class familiarizes students with their obligations using Incoterms so they may fully protect their company through the transfer of title for transactions. A comprehensive understanding of a credit manager's responsibility to the point of transfer is necessary to ensure assets are covered through the delivery process.