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'Complete Cotton' - ICA training programme from May 11

16
Oct '08

The date has been set for the next ICA training programme. Whether involved in growing, spinning or trading cotton, 'Complete Cotton' is a fantastic opportunity for executives from the cotton community, or those new to the industry, to gain an insight into every aspect of the raw cotton trade.

It is an intensive two-week training programme that focuses on key areas such as arbitration, contract law, risk management and control. It provides a unique opportunity to learn about the complexities of the cotton industry from some of the world's leading professionals.

It is aimed at executives of all ages from within the cotton community - including cotton producers, ginners, exporters, merchants, agents, importers, spinners and other allied trades.

Modules covered in the programme include:

US and Major Cotton Markets - Historical perspective; current role; production and yield; demand; promotion; marketing and innovation; basis trading; subsidisation; the future.
Trading with China - Cotton organisations; yarn production; cotton consumption; cotton yield; quotas; cotton imports; trading rules; quality; demand; world cotton use.
Finance - Raising finance; invoicing in foreign currency; foreign currency borrowings; forward foreign exchange contracts; exchange rates; exchange risk; selling and buying currencies forward; sample transactions.
Documentary Letters of Credit - Types of credit and contract; custom and practice; transport documents; settlement; common faults in documents.
Contract Principles and Law - Legal implications of contracts; settlement of disputes; the need for clarity in written contracts; formation of a contract, offer and acceptance; terms, express and implied; error and misrepresentation; discharge of contract; contracts of sale; agency.
Instrument Testing and Practical Comparison of cottons - Fibre testing; demonstration of instruments; application of test results in the cotton industry; grades and staples, quality arbitration and the application of value differences.
Principles of Futures and Options Trading - Contracts; trading; hedging; spreads and straddles; Clearing and Commission Houses; tendering; basic market analysis.

It will be held from 11 May-22 May 2009 at the Holiday Inn Hotel in Liverpool, UK.

The International Cotton Association Limited

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