| |
UNDERSTANDING THE ROLE OF LC SPECIALISTS
Role Analysis by Ravi Mehta |
| |
|
| |
The trading countries need
LC specialists. An LC specialist may be a banker, freight forwarder, export
manager, import manager, educator, or a lawyer. The traders need to
understand the roles of all kinds of LC specialists for using their
services.
1. The role of LC specialist as
a banker.
The role can be summed up in a mnemonic UCP:
U:
UCP knowledge management
C: Conditions stipulation
management; compliance examination
management
P :
Payment (dispute) management
Examples of LC bankers:
Gary Collyer (ABN Amro Bank, UK); Ole Malmqvist (Danske Bank, Denmark);
Laxmanan Sankaran (Commercial Bank of Dubai, U.A.E.); Mohamad Ajorloo (Export
Development Bank of Iran, Iran); Nicole Keller (Dresdner Bank, Germany); Kim
Christensen (Nordea, Denmark); Abdulkadar Bazara (Samba Financial Group,
Saudi Arabia); Jia Hao (Bank of China, China).
|
| |
Ole Malmqvist
|
Mohamad Ajorloo |
Abdulkadar Bazara |
Kim Christensen
|
Laxmanan Sankaran |
Nicole Keller |
| |
Jia Hao |
|
|
|
| |
2. The role of LC specialist as
a freight forwarder:
U: UCP knowledge acquisition and
application for commercial use
C:
Compliance preparation for and
behalf of the exporter (LC's beneficiary)
P :
Presentation of compliance
Example: Colm Wash (Ireland)
|
| |
Colm Walsh
|
| |
3. The role of LC specialist as a lawyer
UCP knowledge management for payment
dispute management. The lawyer examines the banker's document examination
decision and disputes or defends it with the subjective considerations.
Examples of LC lawyers:
Robert Parson (UK); Peter
van der Velden (The Netherlands)); Fung King Tak ( Hong Kong); Sai Bo Jin
(China)
|
| |
Robert Parson |
Peter Van Der Velden
|
 Fung
King Tak |
Saibo Jin |
|
| |
|
| |
4. The role of LC specialist as a DOCDEX expert
UCP knowledge management
for arbitration management
Example - T. O. Lee; Soh Chee Seng
|
| |
T.O. Lee |
SOH Chee Seng |
|
| |
|
| |
5. The role of LC specialist as an educator:
U:
UCP knowledge management skills development
C:
Credit application/issuance skills development; compliance
preparation/examination
skills development
P:
Payment dispute management
skills development
Examples of LC Trainers:
Alan Liu; James Byrne; Vincent O'Brien; Vincent Maullela;
T. O. Lee
|
| |
Vincent O'Brien (extreme left)
with trainees
|
| |
6. The role of LC specialist as
an external consultant of the ICC
Rule formulation
Rule interpretation for
clarification
Rule application for
arbitration
Examples of LC consultants: Donald
Smith, the US-based LC consultant, involved in the ICC tasks of UCP revision
and ISBP formulation; Gary Collyer - Technical Adviser to ICC Banking
Commission, Paris.
|
| |
Donald Smith
|
| |
7. The role of LC specialist as
a consultant outside the ICC
U : UCP knowledge application
C : Controversy resolution
P : Preparation of action plan
Example: Soh Chee Seng,
Technical Adviser to Association of Banks in Singapore, Singapore; also participating
in the UCP revision; Pavel Andrle - he is
consultant to ICC Czech Republic and China Systems; T. O. Lee (www.tolee.com)
|
| |
Pavel Andrle
|
| |
8. The role of LC specialist as
an import managerU: UCP knowledge acquisition
and application
C:
Credit application management; collateral management, where the bankers asks
for collateral for issuing an LC
P:
Payment (dispute) management
9. The role of LC specialist
as an export manager:
U : UCP
knowledge acquisition and application
C:
Compliance preparation and
presentation
P:
Payment monitoring and payment
collection; payment dispute management
|
| |
A. Majid Habib, U.A.E
LC specialist as a trader
|
| |
Conclusion
LC specialists may work in
different sectors of economy, but they have one common trait - knowledge of
UCP and expertise for application of UCP to meet the need of a situation.
|
