Job description
Import and Export LC
- Review contract and provide feedback on Trade Finance related matters
- Prepare/ Review LC draft and ensure timely issuance of LC/SBLC (Import and Export) accordingly
- Provide Operation with any dispute in LC/SBLC formats
- To provide bank with necessary shipping docs upon request after shipment has been effected
- To update bank if there are any changes to the shipment plans
- Follow up with Operations for price confirmation to ensure timely presentation and payment
- Prepare Invoice, LOI and other documents according to export LC terms and conditions
- Prepare bank schedule and submit full set of export LC documents to bank on time
- Prepare final invoice if we have claimed under provisional invoice
- Follow up on export LC acceptance and payment
- Submit OBL to bank for LOI redemption
- Follow up with Operations on status of Import LC documents presentation
- Forward claims/discrepancies under import LC to Operations for their checking and acceptance
- Provide payment instructions to bank under import LC
- Liasie with bank if financing is required.
- Arrange with bank for collection of original documents under import LC
- LC related bank charges verification and recording
CASHFLOW
- Daily cash flow updating
- Prepare outward remittance form for cargo payment (open account), get approval and send to bank for timely processing
- Prepare remittance form for secondary cost payment, get approval and send to bank for processing
- Liaise with bank and monitor outgoing payments and incoming funds (open account)
- Prepare FD instruction and inter-bank funds transfer and send to bank for timely processing
- Reconcile cash flow report with bank statement and month end balance
Others
- Assist in bank account opening documents
- Assist in documents related to bank KYC, facility set up and review, etc. when it’s required
Job requirements:
Minimum of 3-5 years Trade Finance Experience in commodity trading (prefer oil trading) or bank trade finance dept
Familiar with Letter of credits(issuance, negotiation, confirmation, etc. ), Ucp600, TT Payments, cash flow, commodity trade knowledge and flows, bank credit facility structure,
Good communication skill with internal depts (accounts, trader, operation) and banks
