Description
This introduction course covers the eight main types of Letters of Credit used in international trade from advance payment, including Sight Documentary Collection, and Documentary Letters of Credit. It includes the use of Bills of Exchange with and without documents.
Over 75% of first presentations to banks against Documentary Letters of Credit are rejected, resulting in delayed payments to exporters, additional costs, and breached delivery deadlines. This introduction course is suitable for all staff who need to have a clear understanding of the procedures required to ensure payments for goods sold on documentary credit terms. Knowledge and understanding are reinforced through the use of exercises, tips on getting the credit you want and working examples of documentary credits.
Course Contents:
- What is a Letter of Credit?
- The eight main types of Letters of Credit
- Letter of Credit administration and procedure
- Types and levels of security
- Letters of Credit costs, Letters of Credit content – getting the credit you want
- Examination of documents required for presentation
- What can go wrong?
- Top tips for success every time UCP600/ISBP
- Sources of help and advice
Who Should Attend
This course is ideal for personnel who administer the documentation, sales, purchasing, despatch, logistics, Freight Forwarders and companies embarking into the export world. This is also an excellent refresher for those already working with Letters of Credit and for those going into new territories. Essential learning for accounts, export and sales teams.
Please Note: You will need to attend and obtain the credit of at least six of the eleven courses in order to achieve the Foundation Award in International Trade, awarded by the British Chambers of Commerce.
