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Essential training for all exporters who work with Letters of Credit (LC). With exercises to help you handle this method of payment it will also review alternative payment terms. Documentary credits, LCs, require procedures to manage the bank's requirements carefully and provide accurate paperwork on time to avoid delays and additional costs. Attending this session will help you do that by providing working examples.
This is an essential practical workshop for all companies dealing with Letters of Credit when trading internationally. This workshop offers invaluable advice on Letters of Credit acceptance/interpretation and also offers practical help in formulating a procedure that leads to payment “first-time, every-time”. Fully up-dated it not only looks at the Uniform Customs and Practice for Documentary Credits (UCP600) but also other methods of payment. Not just for finance people, it aims to give sales, contracts, logistic departments and customer service teams confidence in handling this often tricky payment methods. Limited to just 9 delegates to guarantee individual attention and we advise you to book early. Eligible for 10 CPD points.
Introduction: Principle Methods of Payment
Bills Of Exchange (Draft): Why are they important?
Letters Of Credit: Why are they used? The format
Types Of Letters Of Credit
Useful Definitions
Avoiding The Pitfalls Of Letters Of Credit
The Rules: UCP 600 - Uniform Customs and Practice of Documentary Credits and the International Standard Banking Practice guidelines (ISBP)
Issuing Procedures - Beneficiary Requirements
L/C Checklist: Rejection & Amendment Procedures
Compliance: Instructing other departments; documents required and how to construct them
The Freight Forwarders’ Role
Presentation Procedures
SOLUTIONS TO Common Errors And Discrepancies
Settlement Procedures: When will you be paid?
Workshops: Reading a Letter of Credit; completing checklists; issuing standard terms; checking documents; avoiding errors.
Glossary Of Terms
Ideal for anyone new to letters of credit procedures at export or who wants a general overview or practical refresher.
"Well set up and presented , very good examples of scenarios" Joanna Worsdorfer 24/11/2020
"Being fairly new to processing LC within Sales admin team, just explanation of what each point within LC means and how we need to address those was very educational." Katerina Gill 28/07/2020
"In house training is always the best with all team around the table however due to current climate and using remote connections - this has still worked really well. Thank you very much for this training session." 28/07/2020