HOW TO BECOME AN EXPERT IN TRADE FINANCE

12 years ago an Indian reader said he downloaded all the articles and Q&A from the website “Mr. Old Man – For those who eat, sleep and breathe Letters of Credit” and printed them out with more than 1500 pages. He also asked me how to become a trade finance expert and I answered him.

Recently I was very happy to know that together with a famous ICC expert, he wrote and published a book titled “From A to UCP” which is very good and has been republished for the second time.

He has done what I have not been able to do. I sincerely congratulate him and recommend this book to readers who love letters of credit.

QUESTION

Dear Sir,

I am V., working in Scope Intl P Ltd (Standard Chartered Bank Group) in Chennai as senior officer in Doc checking team for the past one year. Previously, I worked with bene side handling import and export documentation preparation, logistics etc.

On the basis of my knowledge, I got offer in SCOPE and also I got CDCS this year.

Sir, I would like to become trade advisory role which is my dream. Please guide me what are the things I have to do to achieve this prestigious position. As part of the steppingstone to achieve this goal, I am going through all the ICC opinions, Docdex cases etc. and upgrading my knowledge in this field day by day. Sir, for the past one year I ‘hands on’ personal examination of at least 5000 sets of documents under letters of credits (export transaction).

I came to know that you are an expert and avatar in this field through your blog which I am referring to regularly if any questions arise in my mind during the doc checking.

Awaiting your valuable suggestions which indeed require for me to achieve my dream goal.

Regards,

V.

————–

ANSWER

Dear V.,

Thank you but I dare not admit that I am an expert. I just share my experience and knowledge of trade finance operations with those who eat, sleep and breathe trade finance. To share is to learn. I have learnt a lot from the questions given by colleagues and students.

I see that you have gained the necessary qualifications to soon become an expert in trade finance. To speed up your dream, why don’t you try the following:

1) Join letter of credit forums or trade finance forums as an active member.

2) Join trade finance training courses and seminars both as a trainee and trainer; or join colleges as a visiting lecturer/speaker.

3) Read and write books about trade finance operations. Start by publishing short articles in banking reviews or Trade Finance Newsletters…

4) Create a blog/a website to share your knowledge and experience in this field.

…

Love (for trade finance) and time (experience in trade finance) will make you become “an old man” like me.

Best regards,

Mr. Old Man