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International Services Provision

Unit 14. International Services Provision. Facilitator Support Materials for International Services Provision. Unit Aim. The aim of this unit is to consider all the international services provided by banks, their purpose and how they work. This unit is 20 Guided Learning Hours.

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International Services Provision

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  1. Unit 14 International Services Provision Facilitator Support Materials for International Services Provision

  2. Unit Aim The aim of this unit is to consider all the international services provided by banks, their purpose and how they work. This unit is 20 Guided Learning Hours

  3. Unit Description Learners who complete this unit will know the workings of all aspects of international payments and settlement systems and the financing of foreign trade and foreign exchange operations. The specific systems and techniques involved will be considered but are all the major available ones provided by retail banks to their customers, for both business and private.

  4. Unit Description Continued • The unit commences by considering foreign currency transactions and the forms they can take. Learners will then look at overseas travel facilities, the interactions between sterling and foreign currencies and the methods that can be used to exchange foreign currency. • Foreign exchange operations are then investigated in the context of dealing in foreign currency, the operation of exchange markets, Nostro and Vostro accounts and the Euro.

  5. Unit Description Continued • The final outcome in the unit investigates foreign contracts involving foreign exchange transactions and how these may be carried out. • This unit follows on from Unit 5 Banking Operations — an Overview, which is an appropriate pre-requisite for this unit.

  6. Learning Outcome 1: Understand Foreign Currency transactions Amplification of the Learning Outcome: Forms of foreign currency: cash, travellers cheques Types of transaction:open credit arrangements, foreign bank drafts, personal cheques, foreign dividend warrants

  7. Assessment Criteria for Learning Outcome 1 Assessment Criteria: 1.1 Explain the different forms in which foreign currency is found Open discussion with Learners 1.2 Explain the use of open credit arrangements, foreign bank drafts, personal cheques, Foreign Dividend Warrants in foreign currency transactions Open discussion with Learners

  8. Learning Outcome 2: Understand Overseas Travel Facilities Amplification of the Learning Outcome: Interactions: between sterling and foreign currency Overseas Currency facilities: cheque encashment, SWIFT, bank drafts, International money orders

  9. Assessment Criteria for Learning Outcome 2 Assessment Criteria: 2.1 Explain the use and interactions of sterling and foreign currency notes Open discussion with Learners 2.2 Explain how a given range of overseas currency facilities operate Open discussion with Learners

  10. Learning Outcome 3: Understand Foreign Exchange Operations Amplification of the Learning Outcome: Foreign Exchange Operations: foreign currency dealing; Nostro and Vostro accounts; The Euro Foreign currency exchange operation: spot, discount, premiums, margins, fluctuations, effect on foreign trade

  11. Assessment Criteria for Learning Outcome 3 Assessment Criteria: 3.1 Explain dealing in foreign currencies Open discussion with Learners 3.2 Describe the use of Nostro and Vostro accounts Open discussion with Learners

  12. Assessment Criteria for Learning Outcome 3 Continued • 3.3 Explain the use of the Euro • Open discussion with Learners • 3.4 Describe how foreign currency exchanges operate • Open discussion with Learners

  13. Learning Outcome 4: Understand Foreign Contracts involving foreign exchange transactions Amplification of the Learning Outcome: • Methods of dealing with foreign exchange contracts: Invoicing in sterling, forward contracts and options, currency options, currency accounts, currency borrowing and investments • Foreign contracts: principles of foreign contracts

  14. Assessment Criteria for Learning Outcome 4 Assessment Criteria: • 4.1 Explain a given range of methods of dealing with foreign exchange contracts • Open discussion with Learners • 4.2 Describe the principles of foreign contracts • Open discussion with Learners

  15. Appropriate Books International Services, chapters 1-7. The entire book needs to be studied and understood .

  16. Appropriate websites www.uktradeinvest.gov.uk All retail bank websites www.ecgd.gov.uk www.internationaltrade.co.uk www.standardchartered.com/sme-banking/trade-finance-and-working-capital/en/index.html

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