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International Finance

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Category:

Finanzas, Auditoría y Fiscalidad

Mode: Presencial
Edition: XXVII
Start: 01/04/2022
End Registration: 01/04/2022
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Description

The course focuses on the description and development of international financial markets and instruments available for companies in financing and mitigating risks associated with international operations. Globalization and internationalization of companies are elements that determine its evolution, where today we face a very troubled situation difficult to predict. The currency market is one of the most important aspects highlighted along with the products and tools available to cover the exchange risk.

Also, develop the main products and financial instruments on which supports the risk management and financing of exports and investment in the short medium and long term.

Information

Goals and Student Profile

Goals

We can disaggregate the goals of the module as follows:

  • Understanding how the currency market and its implications for the development of an international operation. Methods of exchange risk hedging.
  • Know how to use the collection and payments mechanisms in the international sale and purchasing, to minimize the risk of the same.
  • Differentiate the various financing structures applicable under the operations carried out in an emerging or a develop country.
  • How the terms and conditions of trade affect the financing of operations.
  • Analyze and identify what type of funding is the most viable according to the operating characteristics: type of contract, seller, country and guarantees.
  • Develop of credit insurance for exports, both from government and private sectors.
  • Coverage of risks indifferent phases of a project or contract.
  • Mechanisms and instruments to finance operations efficiently in terms of the risks borne by the seller.
  • How to get in each case the goal of the exporter or contractors: that the financing would be truly and become an instrument that gives viability to any commercial operation.

At the end of the module should be clear that the financing of operations is not an isolated and tight, but instead is linked to all aspects of a project (technical, logistical, commercial and so on…) and must be taken into account at all times to be truly effective. So the funding, offered by the seller to the buyer, his/her client becomes a differentiator element and often decisive for the signing and execution of a commercial contract.

 

Student Profile

ENAE Business School is very conscious of the fact that every teaching institution is built by all and must be very careful about participant selection right from the very start by analysing their CV, qualification certificates, admission exam and through a personal interview of the student by the program director. Depending on the program, ENAE Business School carries out tests to evaluate language competence.

Most of our students come from the business world about 80% of ENAE’s students are graduate professionals and executives who wish to update their knowledge and improve their skills. These students come from different academic backgrounds mostly engeneering, business, law, economics, communication and humanities.

We encourage young and talented graduates with entrepreneur spirit to be involved in our programs as a fast track to achieve their goals in the business World.

Curriculum

INTRODUCTION

1.  Classification of Operations

2.  Risk in Operations.

2.1 Political Risk

2.2 Commercial Risk

2.3 Risk of Cancellation

2.4 Exchange Risk

2.5 Risk of Interest

3. Guarantees in Foreign Trade

3.1 Warranty Offer

3.2 Advance Payment Security

3.3 Performance Guarantee

3.4 Retention Guarantee

3.5 The Problem of Guarantees

 

MEANS OF COLLECTION AND PAYMENTS

1.  Introduction. Underlying structure, Classification

2.  Transfers

3.  Bank Draft

4.  Personal Check

5.  Simple Remittance

6.  Documentary Remittance

7.   Documentary Credits

7.1 Basic Structure

7.2 Uniform Customs and Practice

7.3 Main features: validity and method of payments

7.4 Credits confirmed

7.5 Credits unconfirmed

7.6 Stand – by credits

7.7 Special credit: revolving, transferrable and back to back

7.8 Case Studies: Emergency 2000

 

CURRENCY MARKET RISK OF EXCHANGE

1. Introduction

2. Market and convertibility

3. Track Changes

4. Formation of exchange rates

5. Currency spot market

6. Currency forward market

7. Exchange risk and hedging

7.1 Insurance Exchange

7.2 Options

7.3 Derivatives of Zero cost

7.4 Case Studies: Gloria Company, Cartosa and so on.

 

FINANCING OF SHORT – TERM OPERATIONS

1. Financing of exports and imports

2. Factoring

3. Confirming

4.  Forfeiting short – term. Case Study: Export of electrical equipment to Cuba.

5.  Pre – financing of exports

6.  Credit insurance. Products of insurers to cover political and commercial risk in short – term operations: Policy 100, master policies and so on.

7.  Case Study: Libya Oil Export

8.  Case Study: Financing medical equipment exports to Brazil

9.   New Instruments.

Faculty

OLIVEIRA DE MIGUEL, EDUARDO
Degree in Agricultural Engineering, Technical University of Madrid.
More details
Degree in International Trade Management (CECO, Madrid) and a Degree in Economic and Financial Management Instituto de Directivos de Empresa (IDE-CESEM Madrid). Coordinator and Professor of the International Trade and investments and exports founding areas at different Business Schools. He has worked as international purchasing manager and head of raw tobacco purchasing at Tabacalera. Furthermore, he has worked as Director of the Americas at Banco Atlántico and the principal correspondent and responsible for export credits for their transactions in America. He has held other positions such as Manager of commercial development and investments and exports founding (projectfinance), Director of the Project Founding Unit, and Director of Operation Founding at Focoex-Expansión Exterior. Eduardo Olivera de Miguel is currently HOMT CEO.

Specified time period and Place

Methodology

Theoretical presentations alternated with practical exposure so as to see their relationship with results in business. The interrelation between theory and practice is a methodology in which students must be involved. This methodological issue will be used for both business executives and professionals, and for recent graduates who want to join the same course.

Several case studies are sent from those that companies have been facing in real life for students, with the relevant knowledge acquired, to do the analysis between the different lines of action that may arise and choose the one considered more realistic and adjusted to the case. The student should become accustomed to making decisions and understand the implications of them.

Case studies and readings will be sent to participants through the virtual campus. At the same time chat forums or debate centres may be created on campus or virtual in which the views of the participants will be contrasted. . These tools will be used by the students to contrast their different points of view.

Virtual Campus is a tool that allows a much more fluid relationship between students and teachers at personal and on line level.

Teaching the course will take into account how the student intends to apply the knowledge acquired to the final project at the end of the Master.

Terms of Payment and Scholarships

Are you interested? Obtain the following benefits:

Price: 390 €

ENAE Business School offers the following discounts:

Partner companies of FUERM, their workers, and the members of Asociacion de Antiguos Alumnos of ENAE Business School will obtain a 10% of discount.

See if your company is a member of FUERM and ENAE

Scholarships

If the amount of the program is paid by your company through the credit offered by the Tripartite Foundation you may recover all or part of the amount of the program in ENAE Business School, discounting the amount to be credited for the payment of social insurance.

Part of the amount paid of our training programs, in-person and In Company, could be recovered through the Tripartite Foundation (only Spanish companies).

Ask us for more information. We make the process for obtaining the discounts to all those students who request it, at no additional cost to your training.

Admission Process

This program is part of a Master that has limited availability. Taking this course will provide you great oportunities for expanding your professional networks. Final admission decision is reserved to ENAE Business School on the basis of prerequisites established for the course, room availability and specific group profile required.

FACULTY

PROG-FI-FINANC-INTERNAC-XXVII
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