Corporate Clients

Why choose Collyer Consulting Global Ltd?

Gary Collyer has over 40 years of experience in handling trade finance transactions, including documentary credits, guarantees and collections. His role as Technical Adviser, and Senior Technical Adviser, to the International Chamber of Commerce (ICC) Banking Commission has made him a focal point for the receipt of all up-to-date information and changes in industry practices. In addition, he was the chair of the Drafting Group responsible for the drafting of UCP 600 and can provide the "inside track" on how the rules should be used and applied by banks and companies alike. He was chair of the Drafting Groups for the development of the URBPO (rules for Bank Payment Obligations) and the revision of ISBP (publication 745), that were both approved in April 2013. More recently, he was co-chair of the Drafting Groups for the revision of eUCP and the development of eURC. Both eUCP version 2.0 and eURC version 1.0 were implemented on 1 July 2019. He is currently an adviser to the Drafting Group for the development of the Uniform Rules for Digital Trade Transactions (URDTT).

Gary remains at the forefront of what is happening on the trade finance world.

Training

Training can be completed remotely or on-site and tailored to the specific needs of the requesting institution. The sessions can vary from a half day to one day or more, depending on individual requirements. A full back up service is provided once the training is finished, for any final questions that arise once the training is concluded. Webinars can also be developed on a general or bespoke basis.

Documentation:

Simple intuitive guides to walk your staff through a transaction from start to finish. What to look for? What to do if there is a problem? How to prepare documents for presentation under a documentary credit? What should I know in the UCP?

Regular updates on documentary credit, collection, guarantee and other trade finance products.

Consultancy:

General consultancy services tailored to your needs and requirements including, but not limited to, expert witness documentation in the event of actual or planned legal action under a specific transaction(s).

A facility allowing direct access for up to 10 individuals of your institution (more, if need be, can be catered for) to have direct email access in the event of issues that require an immediate response or assistance for further handling of a transaction. 90% of questions responded to within 24 hours, the remainder within 48/72 hours.

Annual consultancy contracts are not as expensive as you may think! 

Documentary Credit review:

One of the most important aspects of handling documentary credits is the review of the credit itself (and any subsequent amendments) to highlight any anomalies or areas where there may be possible contention or opportunity for differing interpretation. We can provide a full service to review a scanned version of each documentary credit (and any subsequent amendments). We will send a simple report back to you indicating issues such as non-documentary conditions that may be ignored; conditions for which special or particular wording will be required to appear on your documents; and areas where the wording or conditions may benefit from an amendment.

A review can also be made against any contract or proforma invoice upon which the documentary credit has been (or will be) established.

Examination of documents:

The global rate for discrepant documents on first presentations is currently quoted to be in excess of 60%. Whilst the vast majority of these transactions are ultimately accepted and paid, there are still losses for companies in terms of additional man hours spent resolving the problems; costs in obtaining replacement or corrected documents to resolve the discrepancies; additional bank fees in respect of discrepancy charges; and loss of interest due to delay in receiving payment. We can offer a service whereby we will provide a full review of those documents prior to presentation to the bank. Some discrepancies may not be capable of being corrected i.e., shipment effected after the latest shipment date etc. but we can, through our review, help alleviate the discrepancies that are in your control. Examination of documents will be subject to a satisfactory review of your requirements and the completion of a signed agreement between the Company and Collyer Consulting Global Ltd.

Pricing:

Pricing will vary upon the degree and type of service(s) requested. Further details can be obtained by contacting us at one of the methods shown on the contacts page. 

Recent News

26/11/2024

The latest newsletter is now available in the members trade information section under the category of 'Newsletters'...more

ICC release Technical Advisory Briefing No. 11 - Definition of Trade Finance 19/09/2024

Recognising that there is no global standard for the defining Trade Finance, this Briefing document provides a suggested text and has been recommended for use by the ICC Banking Commisison Steering Committee...more

Latest Question

We, as the issuing bank, requested the below document, under field 46A. “Insurance policy/certificate for 10.00 percent above CIF value payable to the order of Sampath bank PLC, covering institute cargo clauses (a), institute war clauses (cargo), institute strike clauses (cargo), transshipment risks marked premium paid claims payable in Colombo irrespective of percentage.” Insurance certificate is presented containing below wording on the face side of the document. “The settlement of loss and damage will be effected, unless otherwise provided, through the intermediary of Marsh SA/NV to whom all documents are to be forwarded for this purpose, and will collect the indemnity under deduction of a commission of one percent” Also, it indicates the LC conditions as a mirror image as follows under the heading of "letter of credit conditions" whereas insurance conditions are incorporated separately in the certificate: "covering institute cargo clauses (A), institute war clauses (cargo), institute strike clauses (cargo), transshipment risks marked premium paid claims payable in Colombo irrespective of percentage" Having considered the above clauses, we have quoted below discrepancies. 1) Insurance policy indicates a deductible of 1 pct instead of irrespective of percentage. 2) Insurance not marked premium paid Beneficiary’s bank disagrees with our discrepancy and raised below argument: “Insurance policy/certificate does not indicate a deductible of 1 pct irrespective of percentage on the face of the document and banks will not examine terms and condition in insurance document as per ISBP paragraph K22 and marked as premium paid under the LC conditions. Considering above, may we have your opinion on the discrepancy quoted by us and the counter argument raised by the beneficiary’s bank.