Understanding Letters of Credit
Our Essential Guide to Letters of Credit workshop is aimed all key people involved in handling Letters of Credit, ie: export sales, export managers, administrators, finance teams and freight forwarders.
Delegates will receive training delivered in a highly interactive, practical and engaging format delivered by an experienced practitioner in Letters of Credit, enabling you to
- negotiate the most favourable Letter of Credit terms for your business
- accurately factor the costs into your selling price
- minimise the need for costly amendments
- prepare Letter of Credit documents which comply with the most challenging of terms
The workshop will include a range of recent examples of Letters of Credit with a focus on how to avoid the common pitfalls.
The training will ultimately help you and your exporting clients to reduce costs, save time and protect profit margins.
- Understanding the risks
- What is a Letter of Credit?
- How L/Cs work - seller and buyer perspectives
- The roles of the banks
- Understanding the jargon - L/C terms and expressions
- How to set up a workable L/C (suggested template wording included)
- Confirmed Letters of Credit - why use them and what are the cost implications?
- Bank charges - calculating and minimizing costs!
- Understanding the rules - UCP 600 and ISBP 745
- Common problems & discrepancies
- Techniques for preparing and presenting documents to the bank
- Checking the documents - what the bank is looking for!
- Discrepancies – what to do if things go wrong
- Letter of Credit Examples and Exercises
Case studies will be based on recent L/Cs / topical scenarios. All delegates will receive detailed course notes (including templates and checklists) and copies of the presentation slides. You will also receive complimentary copies of the ICC ‘rules’ UCP 600.
Course timing: 9:15am – 16:00pm
Training Course Booking Form
Course bookings for Non members must be paid for before your places are reserved. Once we have confirmed payment
you will be sent course details and joining instructions.
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