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Nairobi, Kenya Windsor Golf Hotel & Country Club

May 9-10, 2017East Africa Trade & Commodity Finance Conference 2017

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East Africa Trade & Commodity Finance Conference 2017

Venue detailsVenue: Windsor Golf Hotel &

Country Club

Tel: +254 20 8647000

Web: www.windsorgolfresort.com

Click here to see a list of attending companies from

2016’s event

Join GTR on social media

Official conference hashtag: #GTREA

GTR’s East Africa Trade & Commodity Finance Conference will return to Kenya in May 2017, bringing together the region’s leading corporates, traders and financiers for two days of discussion and debate.

With an agenda addressing various political, economic and social risks and opportunities faced by Kenya and neighbouring countries, 2017’s conference will provide ideal networking and learning opportunities for those looking to build trade relationships in East Africa.

“A major source of information and networking opportunities.”

S Siliya, Afreximbank

“The conference is an excellent meeting place for great minds.”

H Singharay, Global Finance & Capital

“The speakers are knowledgeable and well-versed. A great conference and excellent networking platform.”

L Kiunjuri, Cooperative Bank

Introductionwww.gtreview.com

3/10

Day 1: Tuesday, May 9, 2017

10.45 Networking break

13.10 Networking lunch

16.05 Networking break

17.40 Evening networking reception

Day 2: Wednesday, May 10, 2017

10.30 Networking break

13.00 Networking lunch

“A conference that challenges you to look deeper into sub-Saharan Africa”

P van Zantvoort, Rabobank

GTR Africa Trade & Infrastructure Finance Conference 2017

October 25-26, 2017 London, UK

Mauritius Trade Finance Conference 2017

November, 2017 Mauritius

Day 1: Tuesday, May 9, 2017

09.00 Chairman’s opening remarks and welcome address

09.05 Economist debate: Taking stock of an evolving geopolitical landscape

09.55 The impact of greater political and economic unity on East African trade

11.30 Interest rates, ‘zombie banks’, political risks: What’s keeping you awake at night?

12.20 Mounting banking sector challenges: Assessing the impact on trade and commodity financing

14.20 From microfinance to major opportunity: Utilising mobile and financial technology to provide finance throughout the supply chain

15.10 Case study: Going digital to promote seamless intra-African trade

15.40 East Africa on the blockchain: Likely outcomes and ramifications for the trade finance sector

16.35 Workshop

Collateral management agreements (CMA): Bridging the gap between expectations, requirements and realities

Day 2: Wednesday, May 10, 2017

09.00 Chairman’s opening remarks

09.10 Financing East African trade: Where are the gaps and how do we enhance access to trade finance?

09.40 Treasury, risk management and trade: Setting strategies to combat global volatility

11.00 Getting the deal done: Utilising private insurance sector support

11.45 Regulatory update: Marine cargo insurance in Kenya

12.15 Keeping East Africa ahead of the curve

Featured speakers

Calvin Matundura, Senior Finance Manager, Treasury, Safaricom

Vijay Kumar, Chief Executive Officer, East Africa, Choppies

Rikin Shah, Group Chief Financial Officer, Janus Continental Group

Anish Jain, Group Treasurer, Export Trading Group

Edward George, Head of Ecobank UK & Head of Group Research, Ecobank

Geoffrey Okora, General Manager, Business Development, RH Devani

Peter Hampson, Vice-President, Trade Finance, Crown Agents Bank

David Yen, Head of East Africa Business Development, BitPesa

Peris Bosire, Co-Founder & Managing Director, FarmDrive

Benjamin Mugisha, Senior Underwriter, African Trade Insurance Agency

Simon Cook, Partner, Sullivan & Worcester

Marc Harel, Head of Institutional Banking, Mauritius Commercial Bank

Carl Kachale Chirwa, Head of Trade Finance, Sub-Saharan Africa, Citi Kenya

Ivan Mbowa, Founder, Umati Capital

Andreas Rusch, Managing Consultant, South Africa, Bongani Consulting

Omar Al-Ali, Partner, Simmons & Simmons

East Africa Trade & Commodity Finance Conference 2017

60-second snapshotwww.gtreview.com

Sectors attended in 2016

75%AFRICAEthiopiaKenyaMauritiusNigeriaSouth AfricaTanzaniaUganda

3%AMERICASBrazilUnited States

16%EUROPEFranceThe NetherlandsPolandSwitzerlandUnited Kingdom

6%MENAEgyptSaudi ArabiaUAE

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37% 24% 7% 7% 6% 5% 4% 4% 3% 3%

Percentage of attendees by region in 2016

97Companies represented

17Countries

represented

210Delegates attended

2016’s vital statistics Attendee breakdown by job title in 2016

60%

Senior level

22%

Mid-level

18%

C-level

East Africa Trade & Commodity Finance Conference 2017

Statisticswww.gtreview.com

Networking Break

Hosted by Sponsorship opportunitiesPeter Gubbins Managing Director pgubbins@gtreview.com +44 (0)20 8772 3000

Speaking opportunitiesGeorge Mitchell Senior Conference Producer gmitchell@gtreview.com +44 (0)20 8772 3017

Marketing & Media opportunitiesJudith Mülhausen Marketing Assistant jmulhausen@gtreview.com +44 (0)20 8772 3012

Networking Lunch

Hosted by

Tuesday, May 9, 2017 at 13.10

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Agenda Day 1: Tuesday, May 9, 2017

08.00 Registration and refreshments

09.00 Chairman’s opening remarks and welcome addressPeter Hampson, Vice-President, Trade Finance, Crown Agents Bank

09.05 Economist debate: Taking stock of an evolving geopolitical landscapeEdward George, Head of Ecobank UK & Head of Group Research, EcobankRonak Gopaldas, Head of Country Risk, Rand Merchant Bank

2016 proved a pivotal year in the geopolitical sphere with upheaval in the UK and US, while 2017 has plenty more in store closer to home. Amidst elections and rising political risks in key East African economies the impact of Brexit and the election of the Trump administration is expected to play out on the word stage, casting uncertainty over Sub-Saharan trade and investment flows. This session will consider the following:●● Brexit and forging a new trading relationship with the EU: The diverging interests of East African economies

●● Focus on post-Brexit horticultural exports: Illustrating potential EU trade value chain disruption

●● A changing US-Africa relationship? Assessing risks to in-bound investment under the Trump presidency

●● Political risk spotlight: South Sudan, Burundi, Ethiopia, and elections in Kenya and Somalia

09.55 The impact of greater political and economic unity on East African tradeModerator: Peter Hampson, Vice-President, Trade Finance, Crown Agents BankBenjamin Mugisha, Senior Underwriter, African Trade Insurance AgencyLloyd Muposhi, Head of Trade Finance, Trade & Development Bank (TDB)Argent Chuula, Chief Executive Officer, The Alliance for Commodity Trade in Eastern & Southern Africa, ComesaSanjeev Anand, Group Managing Director, Retail & Commercial Banking, Atlas Mara

Assessing the effects of continued integration on competition and trade with other economic blocs and the wider African community of nations

●● How has the expansion of the community affected the economies and the trading patterns of the nations in the region?

●● Where next for the EAC? Considering the viability of a single currency, prospects for federalism, and further expansion of the bloc

●● Has the original vision for the EAC been affected by the populist movements in other trade blocs such as NAFTA, TPP, and EU?

10.45 Networking break

11.30 Interest rates, ‘zombie banks’, political risks: What’s keeping you awake at night?Moderator: Shannon Manders, Editorial Director, GTR Calvin Matundura, Senior Finance Manager, Treasury, SafaricomVijay Kumar, Chief Executive Officer, East Africa, ChoppiesRobert Besseling, Executive Director, EXX AfricaNicholas Oliver, Head of Business Development, NMS International Group

An open debate highlighting the key strategic concerns of some of East Africa’s leading executives. Talking points will focus on the impact of growing global protectionism on East African companies’ trade and investment opportunities, assess regional political risks and risk management strategies, and provide the corporate view on mounting challenges in the East African banking sector.

12.20 Mounting banking sector challenges: Assessing the impact on trade and commodity financingModerator: Simon Cook, Partner, Sullivan & WorcesterGeorge Bodo, Head of Banking Research, EcobankMarc Harel, Head of Institutional Banking, Mauritius Commercial BankGeorge Wilson, Head of Trade, Financial Institutions, Africa, Barclays Africa GroupPatrick Makau, Head of Trade, Kenya & East Africa, Transaction Banking, Standard CharteredStella Musembi, Advocate, Gikera & Vadgama Advocates●● Fed interest rate hikes and the rising cost of US dollar financing: How great a challenge is being posed to the trade finance sector?

●● Updating on the Kenyan interest rate cap: Has this stimulated local lending as expected? What is the outlook?

●● Zombie banks: How can the spiral of economic slowdown, deteriorating asset quality, restricted bank lending, and further economic slowdown be avoided? Are we now seeing an impact on the trade finance sector?

●● How are banks responding to profitability challenges? How far can investment in digital efficiencies relieve the pressure? What role can policy makers play in this and other areas of the market, and is enough being done?

13.10 Networking lunch

“A great opportunity to meet people and make valuable contacts.”

Q Khan, Cargill

“An event worth attending.”

M Aloyce, CRDB Bank

East Africa Trade & Commodity Finance Conference 2017

Agenda: Conference Day 1www.gtreview.com

GTR Asia Trade & Supply Chain Finance Conference 2017 April 19, 2017 Hong Kong | JW Marriott Hotel

Iran Trade Business Briefing 2017 April 26, 2017 London, UK | etc. Venues Prospero House

East Africa Trade & Commodity Finance Conference 2017 May 9-10, 2017 Nairobi, Kenya | Windsor Golf Hotel & Country Club

GTR Charity Awards Dinner May 23, 2017 London, UK | Grand Connaught Rooms

Australia Trade Forum 2017 May 29, 2017 Sydney, Australia | Sofitel Hotel Wentworth

US Trade & Working Capital Conference 2017 June 7, 2017 Chicago, US | Swissôtel Chicago

UK Trade & Export Finance Conference 2017 June 15, 2017 London, UK | The Grange Tower Bridge

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Chairman: Edward George, Head of Ecobank UK & Head of Group Research, Ecobank

14.20 From microfinance to major opportunity: Utilising mobile and financial technology to provide finance throughout the supply chainModerator: Edward George, Head of Ecobank UK & Head of Group Research, Ecobank Carl Kachale Chirwa, Head of Trade Finance, Sub-Saharan Africa, Citi KenyaIvan Mbowa, Founder, Umati CapitalPeris Bosire, Co-Founder & Managing Director, FarmDriveJames Mwai, Director of Policy, Research & Advocacy, Fairtrade Africa

Brendan du Preez, Head, Open Account & Supply Chain Finance, Standard Bank●● Where is the greatest trade financing and working capital need in East Africa in terms of markets and sectors? What are the hurdles being faced by borrowers and lenders?

●● Do bank-led SCF platforms reach far enough into the value chain? Is it reasonable to expect them to meet requirements alone?

●● Which are currently the hot spots for mobile and financial technology development in the region concerning trade and financing?

●● Mobile payments as a working capital optimiser: Simply faster and better, or is the potential to open alternative liquidity sources, and stimulate the credit extension crucial to business growth, yet to be realised?

●● Which key tech developments are enabling increased lending to MSMEs? To what extent can these technologies combat challenges such as economy of scale, lack of data and other KYC challenges?

15.10 Case study: Going digital to promote seamless intra-African trade Michael Gichure, Cluster Head, Trade Sales Kenya & EAC, Ecobank

Strides recently made in modernising duty payment for imports via Mombasa and Dar Es Salaam are providing huge logistical and cost benefits to traders, as well as the ability to crack down on tax avoidance and fraud. A forward-thinking discussion will examine the primary areas where further digital deployment can break down borders in areas such as international trade finance and cash management.

Workshop

16.35 Collateral management agreements (CMA): Bridging the gap between expectations, requirements and realitiesModerator: Andreas Rusch, Managing Consultant, South Africa, Bongani ConsultingOmar Al-Ali, Partner, Simmons & SimmonsJJ Gagiano, Commercial Manager East Africa, Vallis CommoditiesPrince Wadie, Principal, Structured Solutions, Kenya & East Africa, Standard CharteredSuleiman Dualeh, Managing Director, Hawte Investments

It is well documented that there is a huge shortage of structured trade and commodity finance in the global market, with the shortfall reported as being as much as US$110 billion for Africa alone. With concerns mounting over a potential food crisis, these requirements need to be met through a concerted effort, with one of key support mechanisms within STCF being the implementation of a collateral management agreement. This session will consider:●● Outlining the reasons for a full CMA: What is the likely cost impact for banks?

●● The significance of regulatory requirements when it comes to managing capital

●● Examining the scope of services offered under a CMA: Demarcation and clarity of responsibilities

●● Why have losses been made? What lessons have been learned?●● To what extent is the ongoing development of rail infrastructure in East Africa expected to improve the operating environment for collateral managers?

17.35 Close of Day One

Followed by evening networking reception

“The panel discussions were of high quality and very inclusive, which generated a lot of insight.”

J G Mwai, Fairtrade Africa

15.40 East Africa on the blockchain: Likely outcomes and ramifications for the trade finance sectorDavid Yen, Head of East Africa Business Development, BitPesa

With new distributed ledger use cases seemingly touted every other day and collaborative initiatives between FIs regularly making the headlines, some see only a matter of time before the traditional trade finance sector is sent to the paper recycling mill. Hard learned lessons in the fintech sector would suggest otherwise (BPO, anyone?). We’ll update you on the progress made so far, various distributed ledger permutations and hybrids, the challenges specific to cross-border financial transactions, and ask the question; what does this all mean for East Africa’s trade finance sector?

16.05 Networking break

East Africa Trade & Commodity Finance Conference 2017

Agenda: Conference Day 1www.gtreview.com

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Directory2016-17

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08.00 Registration and refreshments

09.00 Chairman’s opening remarksPeter Hampson, Vice-President, Trade Finance, Crown Agents Bank

09.10 Financing East African trade: Where are the gaps and how do we enhance access to trade finance?Lamin Drammeh, Chief Trade Finance Officer, Trade Development Division, African Development Bank

How do trade finance needs in East Africa compare to other regions on the continent? What are the major challenges faced by banks as providers of trade finance and their clients, especially SMEs? The African Development Bank will provide an overview of key trends in East Africa and across the continent, highlighting how various actors can bridge the financing gap and the role that can be played by the AfDB.

09.40 Treasury, risk management and trade: Setting strategies to combat global volatilityModerator: Scott Stevenson, Chief Executive Officer, Savia Trade Management CompanyGeoffrey Okora, General Manager, Business Development, RH DevaniRikin Shah, Group Chief Financial Officer, Janus Continental GroupAnish Jain, Group Treasurer, Export Trading Group●● Operational Vs strategic: How are corporate treasurers balancing day-to-day priorities with long-term treasury planning? How realistic is long term planning in the current climate?

●● FX risk: Which tools can be utilised to mitigate a strengthening USD? Considering FX hedging strategies and receivables financing options

●● Interest rate risks and local banking sector challenges: How are corporates combatting rising US dollar financing costs and constricted local liquidity?

●● Commodities hedging: Where do pitfalls threaten those who fail to properly manage commodity price risks? How important is an effective commodity price hedging strategy for those looking to maximise access to structured commodity trade finance?

●● Sharing best practices and strategies to generate superior returns form your treasury and risk management policies

10.30 Networking break

11.00 Getting the deal done: Utilising private insurance sector supportModerator: George Bellord, Director, BPL GlobalDuarte Pedreira, Head of Trade Finance, Crown Agents BankGenevieve Ahinful, Underwriter, African Trade Insurance Agency●● Is there greater risk of insolvencies, losses and projects being put on hold within the current trade climate? Are uncertainties surrounding international relations and protectionist trade policies exacerbating this?

●● Trade credit insurance 101: A practical guide outlining transaction flow, the role of various parties, and the claims handling process

●● Making a claim: Should the price of a premium be prioritized over underwriter credit rating or claims paying ability? Which common claims pitfalls should insureds be aware of?

11.45 Regulatory update: Marine cargo insurance in KenyaWalle Romijn, Account Manager, Commodity Trade, Aon Risk SolutionsAnne Mkala, Chief Broking Officer, Aon Kenya

Sharing the latest on the new framework governing provision of marine cargo insurance for imports into Kenya, this in-depth update will provide background to the key regulatory changes driving devlopments, pinpoint the ramifications of these changes in Kenya and the East African region, and suggest how new challenges can be overcome.

12.15 Keeping East Africa ahead of the curveJames Mwai, Director of Policy, Research & Advocacy, Fairtrade Africa

With developing regional economies providing huge growth potential and a continent-leading tech sector, the East African region has much to safeguard in this era of volatility.

Interpreting the primary economic, trade and financing challenges facing the region and offering perspectives on the prudential action required from policy makers and market participants to guard against downside risks, this call to action will focus on the East African technology sector and its potential to transform the provision of financial services, given the correct regulatory treatment and investment, and seek to answer the question: How to keep East Africa ahead of the curve?

12.45 Close of conference

Followed by networking lunch

“An excellent platform to learn about Africa’s progress.”

T Assefa, ECX

“A good platform for networking and new business opportunities.”

P Kiguru, CBA

Agenda Day 2: Wednesday, May 10, 2017

East Africa Trade & Commodity Finance Conference 2017

Agenda: Conference Day 2www.gtreview.com

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East Africa Trade & Commodity Finance Conference 2017

Sponsors & partnerswww.gtreview.com

Documentary Credits Masterclass: Practical issues, risks and challenges in international trade

May 10-11, 2017

Accredited by

Despite increased digitisation, documentary credits still play a pivotal role in international trade, particularly in developing markets. This intensive seminar will provide a practical and interactive analysis of regulation, practice and risk in international trade and documentary credits.

Day One

14.00 The financing of international trade●● The parties, their roles and contractual relationships, their legal obligations and responsibilities under the UCP

●● The risk ladder: Effective use of trade instruments from a cost vs risk perspective

●● Risk assessment: What are the safeguards?●● Analysis of key trade instruments and payment mechanisms: Which are appropriate to use (when and why)?

Documentary credits and UCP 600●● UCP 700: What are the arguments for and against a revision? Is it needed and if so why?

●● Use of documentary credits in international trade: Practical problems, key risks and potential solutions

●● Analysis of how legal cases have changed the way international trade and documentary credits operate

●● Examining changes to the UCP driven by legal precedent

Standby credits●● How do they work and why are they needed?●● How do they compare with guarantees?●● Risks to consider when dealing with standby credits●● When not to use standby credits

15.00 Practical interactive case study: The issuance of documentary credits

15.40 Coffee and networking

16.00 Practical interactive case study continued:

16.30 An analysis of specialised documentary credits and their importance in the finance of commodities

Red and green clause credits●● Their use as a pre-export finance tool in commodity finance●● Their role in the market and use as a financing mechanism●● Structural analysis: How to minimize risks

Transferable credits ●● Advantages and disadvantages●● What are the risks? When should and when should they not be used?●● Review of key legal cases

Back-to-back credits ●● What are they?●● Their importance in commodity financing●● Practical considerations and methodology●● What are the risks and how can they be mitigated?●● Comparison “front-to-back’ and transferable credits

17.30 Practical interactive case study continued Practical cases, analysis and debate concerning key technical issues addressed by the ICC Banking Commission

18.00 Conclusion and summing up of Day One

Day Two

09.00 International standard banking practice for the examination of documents under UCP 600 (ISBP 745)

09.40 Practical interactive case study: Key elements for document checking

11.00 Coffee and networking

11.30 An update on financial crime, KYC and AML initiatives in international trade●● The new joint Wolfsberg Group, ICC and Baft principles (Jan 17)●● UK FCA thematic review of trade ●● Methodology, processes and findings●● Key recommendations●● Industry body discussions and interaction●● What it means to banks and how they need to adapt●● New training and educational initiatives●● Red flags: What to look for!

11.50 How to balance the autonomy principle of documentary credits with the challenges of regulation, compliance and fraud●● Analysis of the autonomy principle: Is it still valid and workable?●● What about fraud exception?●● How to reconcile the impact of regulation and compliance with the traditional UCP focus of ‘examination of documents on their face’ and ‘banks deal with documents not goods

12.20 Letters of indemnity in oil transactions: Key considerations●● How do they work and why are they needed?●● Key court cases and lessons to be learnt●● What are the risks involved?●● Distinguishing between ‘payment’ indemnities and ‘discharge’ indemnities●● Assessing the risk of use with transferable credits

13.15 Conclusion and summing up of Day Two

Trainer bioJohn Turnbull, Director, Certis InternationalSenior Banker and Trade Finance specialist with 35 years experience of origination, negotiation, structuring, risk management and regulation of the full range of international trade transactions. Formerly Joint General Manager and Global Head of Structured Trade and Commodity Finance at Sumitomo Mitsui Banking Corporation Europe Ltd, Head of Global Trade Finance, London at SBC (now UBS) and Head of Trade Finance at Paribas, London. John has acted as expert witness in a number of high-profile trade finance legal cases. He was Co-Chair of the ICC Commission on Banking Technique and

Practice’s Consulting Group on the most recent revision of the UCP. For 10 years since its inception he was the Chair of the Association of Foreign Banks Trade Finance Committee. Chairman of the ICC UK Banking Committee and member of the ICC Banking Commission Global Financial Crime Committee and the joint ICC/Wolfsberg Committee. Representative on many national and international trade committees, including previously a Board Member of the International Energy Credit Association in the USA, a current long-standing member of the IECA European committee and a member of the editorial board of GTR’s flagship magazine, Global Trade Review.

9/10

Trainingwww.gtreview.com

East Africa Trade & Commodity Finance Conference 2017

10/10

Pricing details

Package (Conference & Masterclass, May 9-11): US$1,549

Conference only (May 9-10): US$999

GTR Training Masterclass (May 10-11) US$649

• Attendance earns 8 LIBF PDUs / CPD hours for participation on the two-day course and 4 for attendance of just the first day.

Can’t make the conference? US$150 Conference delegate pack, comprising all speaker presentations and bios in both hard copy and online formats

East Africa Trade & Commodity Finance Conference 2017

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sent to you immediately for all bookings. If you have not received an email confirmation within 24 hours of making the booking, please contact the team at events@gtreview.com or on +44 (0)20 8673 9666.

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Post: GTR, Exporta Publishing & Events Ltd, 4 Hillgate Place, London SW12 9ER, UK

East Africa Trade & Commodity Finance Conference 2017

PA R T O F

Accredited by

Nairobi, Kenya | Windsor Golf Hotel & Country Club May 10-11, 2017

Documentary Credits Masterclass: Practical issues, risks and challenges in international trade

#GTRTraining

Documentary Credits Masterclass: Practical issues, risks and challenges in international trade

May 10-11, 2017

Accredited by

Despite increased digitisation, documentary credits still play a pivotal role in international trade, particularly in developing markets. This intensive seminar will provide a practical and interactive analysis of regulation, practice and risk in international trade and documentary credits.

Day One

14.00 The financing of international trade●● The parties, their roles and contractual relationships, their legal obligations and responsibilities under the UCP

●● The risk ladder: Effective use of trade instruments from a cost vs risk perspective

●● Risk assessment: What are the safeguards?●● Analysis of key trade instruments and payment mechanisms: Which are appropriate to use (when and why)?

Documentary credits and UCP 600●● UCP 700: What are the arguments for and against a revision? Is it needed and if so why?

●● Use of documentary credits in international trade: Practical problems, key risks and potential solutions

●● Analysis of how legal cases have changed the way international trade and documentary credits operate

●● Examining changes to the UCP driven by legal precedent

Standby credits●● How do they work and why are they needed?●● How do they compare with guarantees?●● Risks to consider when dealing with standby credits●● When not to use standby credits

15.00 Practical interactive case study: The issuance of documentary credits

15.40 Coffee and networking

16.00 Practical interactive case study continued:

16.30 An analysis of specialised documentary credits and their importance in the finance of commodities

Red and green clause credits●● Their use as a pre-export finance tool in commodity finance●● Their role in the market and use as a financing mechanism●● Structural analysis: How to minimize risks

Transferable credits ●● Advantages and disadvantages●● What are the risks? When should and when should they not be used?●● Review of key legal cases

Back-to-back credits ●● What are they?●● Their importance in commodity financing●● Practical considerations and methodology●● What are the risks and how can they be mitigated?●● Comparison “front-to-back’ and transferable credits

17.30 Practical interactive case study continued Practical cases, analysis and debate concerning key technical issues addressed by the ICC Banking Commission

18.00 Conclusion and summing up of Day One

Day Two

09.00 International standard banking practice for the examination of documents under UCP 600 (ISBP 745)

09.40 Practical interactive case study: Key elements for document checking

11.00 Coffee and networking

11.30 An update on financial crime, KYC and AML initiatives in international trade●● The new joint Wolfsberg Group, ICC and Baft principles (Jan 17)●● UK FCA thematic review of trade ●● Methodology, processes and findings●● Key recommendations●● Industry body discussions and interaction●● What it means to banks and how they need to adapt●● New training and educational initiatives●● Red flags: What to look for!

11.50 How to balance the autonomy principle of documentary credits with the challenges of regulation, compliance and fraud●● Analysis of the autonomy principle: Is it still valid and workable?●● What about fraud exception?●● How to reconcile the impact of regulation and compliance with the traditional UCP focus of ‘examination of documents on their face’ and ‘banks deal with documents not goods

12.20 Letters of indemnity in oil transactions: Key considerations●● How do they work and why are they needed?●● Key court cases and lessons to be learnt●● What are the risks involved?●● Distinguishing between ‘payment’ indemnities and ‘discharge’ indemnities●● Assessing the risk of use with transferable credits

13.15 Conclusion and summing up of Day Two

Trainer bioJohn Turnbull, Director, Certis InternationalSenior Banker and Trade Finance specialist with 35 years experience of origination, negotiation, structuring, risk management and regulation of the full range of international trade transactions. Formerly Joint General Manager and Global Head of Structured Trade and Commodity Finance at Sumitomo Mitsui Banking Corporation Europe Ltd, Head of Global Trade Finance, London at SBC (now UBS) and Head of Trade Finance at Paribas, London. John has acted as expert witness in a number of high-profile trade finance legal cases. He was Co-Chair of the ICC Commission on Banking Technique and

Practice’s Consulting Group on the most recent revision of the UCP. For 10 years since its inception he was the Chair of the Association of Foreign Banks Trade Finance Committee. Chairman of the ICC UK Banking Committee and member of the ICC Banking Commission Global Financial Crime Committee and the joint ICC/Wolfsberg Committee. Representative on many national and international trade committees, including previously a Board Member of the International Energy Credit Association in the USA, a current long-standing member of the IECA European committee and a member of the editorial board of GTR’s flagship magazine, Global Trade Review.

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Trainingwww.gtreview.com

East Africa Trade & Commodity Finance Conference 2017

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Terms & conditions1. Confirmation: Booking confirmation will be

sent to you immediately for all bookings. If you have not received an email confirmation within 24 hours of making the booking, please contact the team at events@gtreview.com or on +44 (0)20 8673 9666.

2. Payment (including VAT) must be made in full prior to the start of the conference. GTR retains the right to refuse entry in case of non-payment. Payment can be made through Credit Card online, via telephone or by sending our Events team a completed Credit Card Authorisation form.

3. All delegates who have not paid prior to the conference will be denied entry.

4. Transfers: If you cannot attend a conference, you can transfer your place to another individual. Places can be transferred at any time up to and including the day of the conference. Please note an additional charge may be applicable if the new attendee is not entitled to the same rate.

5. A delegate place can be transferred to another conference, if the request to us is received more than 5 working days before the conference. Please note additional charges may be applicable. A delegate can only transfer their place a maximum of two times, after which they will incur a 20% administration fee.

6. Cancellations: All delegate cancellations must be made in writing to events@gtreview.com. The charge for cancelling your booking is:

- 1 month before the conference: 90% refund of the full cost

- 5 or more working days before the conference: 80% refund of full cost

- 5 or less working days before the conference: no refund

7. Non-attendance to a conference will result in no refund.

8. In the case of the cancellation of the conference or the change of the conference date, GTR will not be held liable for any booking, travel or hotel costs associated with the booking.

Please note that all confirmed registrations are subject to the event terms and conditions

Should you have any queries, please contract our team at events@gtreview.com or on +44 (0)20 8673 9666.

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Pricing details

GTR Training Masterclass (May 10-11) US$649

• Attendance earns 8 LIBF PDUs / CPD hours for participation on the two-day course and 4 for attendance of just the first day.

Ways to register

Email: events@gtreview.com

Web: www.gtreview.com

Fax: +44 (0)20 8673 8662

Telephone: +44 (0)20 8673 9666

Post: GTR, Exporta Publishing & Events Ltd, 4 Hillgate Place, London SW12 9ER, UK