Reclaiming Your VAT

Reclaim the VAT on your Euromoney Training Courses in the UK

Why am I being charged VAT?
The EU VAT Directive stipulates that all training and educational courses that are provided in the UK must include a VAT charge on payment.  

Can I reclaim my VAT back?
Overseas delegates who attend our courses in the UK are eligible to claim their VAT back once it has been paid.    

How can I claim the VAT back paid on a course?
There are two ways in which you can claim back VAT back from the UK.

Option 1 - Directly through HM Revenue and Customs

The most cost-efficient way is to claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.

Option 2 - Through our Recommended VAT Reclaim Service – VAT IT
The specific rules for VAT reclaim will vary according to the laws of your country of residence. This can be complicated and time-consuming. 

Euromoney have an exclusive partnership with VAT IT, specialists in international VAT reclaim.  VAT IT will review, process and submit your VAT refund on your behalf. 

VAT IT will charge a percentage of the VAT refund if/when it is successful. 

If you want to find out more about this service, please email your details to: euromoney@vatit.com  

You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

RECLAIMING YOUR VAT WITH VAT IT

Course details

Download course brochure

Structured Trade & Commodity Finance

Boost your career in trade financing & commodity flows & emerging markets
  • A course bringing together trade finance product concepts, application to supply chains and financing structures typically used to facilitate commodity flows. The course is pegged at an intermediate level. Attendees are expected to be equipped with prior knowledge about mechanisms relating to Open Account, Letters of Credit, Bank Guarantees and Documentary Collections. For those less familiar with these topics, pre-course reading material will be provided. Focus of the programme shall be on financing arrangements as described in ‘Course objective’ below.


    Course objective: To provide a comprehensive view of the interplay between trade finance instruments and supply chains as they apply to the commodities business. The objective is to cover Supply Chain Finance and Commodities Trade Finance. We begin with Pre-Finance on Day 1, proceeding to Payables-centric solutions on Day 2, followed by Warehouse/Inventory Finance on Day 3 and Receivables-centric solutions on the final day of training. In order to provide comprehensive coverage, the course will also cover related topics such as Risks in Commodity Trade contracts, INCOTERMS & Transport Documents, Marine Cargo Insurance and Commodity Price Hedging. Attendees will receive training on developing a risk-sensitive approach to commodities trade financing.

  • Day 1

    Focus on Risk
    Overview of international trade and commodities
    Distinguishing trade finance from other forms of corporate financing
    Examining the concept of Risk and as it applies to international trade
    Understanding commodity contracts


    Risks in international trade as they apply to emerging markets

    • Political risk
    • Performance and operational risks
    • Credit and bank risks
    • Price risk
    • Illegality of contracts
    Case studies: set in emerging markets


    Financing trade in challenging markets

    • Commodity trading- markets and players
    • Evolution of the trader's business model
    • Structured trade finance and the supply chain
    • Risk analysis of a commodity finance transaction
    • Case study: An example of pre-shipment finance set in Asia
    Other considerations
    • Implications of the Basel Capital Accord
    • Rationale for the ‘structured’ approach to trade finance
    • Characteristics of good collateral
    Case study exercise: Risk analysis of a pre-finance business proposition set in a challenging environment


    Day 2

    Focus on Pre-finance
    Risk considerations for pre-finance

    • Pre-export to finance grower/producer
    • Production and delivery conditions determining contract outcomes
    • ‘Push’ factor for success of pre-finance
    • What can go wrong?
    • Ownership of the commodity asset
    • Licenses, export quotas. foreign currency controls
    • Pre-payment finance
    • Limited recourse: Absence of obligation to reimburse in full upon producer’s failure to deliver
    • Difference between pre-financing and pre-payment
    • Tolling finance
    • Performance and country risks
    • Protection against non-delivery by processor
    • Security interests of financier
    • Insurance solutions
    Case study: Metal smelting and refining
    Case study exercise: Medium term pre-financing of a metal smelter

    Day 3

    Focus on Warehouse finance
    Storage of commodities

    • Warehousing considerations
    • The business case for warehousing
    • Use of a bonded warehouse
    • Separating warehouse finance from warehouse receipts finance
    • Problems with pledges over inventory stocks, physical dispossession
    • Nature of a warehouse receipt; is it a document of title or only evidence of receipt?
    • Legal infrastructure required to support warehouse receipt finance
    Case study: Distribution of imported grain


    Repo finance against commodities traded in a liquid, well-ordered derivative market
    Collateral management arrangement
    Review of a collateral management agreement (CMA)
    Liability of a collateral manager
    Case study: Sugar refining/ Petroleum storage


    Case study exercise:
    Designing a credit line for an emerging market borrower

    Day4

    Subsidiary topics essential for competent handling of commodities trade finance
    Alternative financing methods

    • ‘Switch’ trade
    • Clearing currencies and escrow account trade
    Case study: Capital goods import


    Transport documents

    • Incoterms 2010
    • Flag of vessel; avoiding sanctions
    • Liner & Chartered vessels
    • Obligations of shipper/charterer and vessel owner
    • Loading and discharge of cargo
    • Documents representing goods
    • Documents of Title; title, negotiability and endorsements
    Cargo Insurance
    • Principles of marine insurance
    • ICC A/B/C, seller’s risk cover
    • Security over insurances (assignment vs. loss payee)
    Political and Credit Risk Insurances
    • Why do banks need political risk insurance cover?
    • Contract frustration
    • Confiscation of assets
    • Covering risk of default in payment by buyer
    Price risks
    • OTC versus exchange-traded contracts
    • Link between cash and futures markets
    • Understanding contracts to hedge
    • Price risk management in commodity trade
    • Benefits of hedging for the borrower and lender
    Case study: A hedging example
    Mishaps in Structured Trade Finance


    Course summary and close


  • Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course.

    Our Tailored Learning Offering

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
    • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Srinath Keshavan

    Biography

    The Course Director is a Trade Finance practitioner with 32 years experience in the Asia-Pacific region. His experience encompasses both commercial and financial aspects of International Trade. He worked for many years in Bills, Banking Operations and Credit & Marketing Departments of an international bank in Hong Kong. Since 1991, he has been associated with commodity-trading firms in Singapore as Head of Trade Finance and Risk Management. His expertise relates to structuring financial arrangements for international trade transactions, raising credit lines and managing banking relationships. He heads a trade finance consultancy in Singapore. His seminars provide clarity over technical concepts and offer participants the opportunity to reinforce their own understanding of the subject through practical illustrations.

Venue

London

"All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

As such we have detailed our most frequently used training destinations in London on this map. If you need help booking accommodation for your visit to our training courses, please contact accommodation@euromoneylearningsolutions.com and one of our partners will help you get the best rate possible."