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Dealing with Letters of Credit
This event has already taken place.
Times: 09:00 - 16:30
Venue: TVC Slough, 150 Edinburgh Avenue, SLOUGH, Berkshire, SL1 4SS
Price: Please call 01753 870500 or see below for further information
Why this course?
Letters of Credit (L/Cs) allow successful trade with the riskiest of customers and countries, by providing a bank’s guarantee of payment; however, they can prove a minefield for the uninitiated. You enter a curious world where all that matters is a set of export documents and errors can prove disastrous. This course explains the mechanics, terminology and sequence of events. Understanding this will considerably improve your success rate.
At the end of the course you will be able to influence the setting up of manageable L/Cs and to process them with increased confidence and accuracy.
Who is it for?
Whether you are facing your first Letter of Credit transaction, or you know how tricky they can be, this course will prove invaluable.
What does it cover?
- Defining the Letter of Credit – what is it and how does it work?
- Who does what? – the people and functions involved
- Differences between irrevocable and confirmed L/Cs
- Different types of L/Cs
- Advantages and disadvantages
- Bills of Exchange and where they fit in
- Why the documents are so important, and practical steps if things go wrong
- Improving the content of L/Cs
- The governing rules – the ICC’s ‘UCP’ publication 600
- Anticipating the cost of L/Cs
Benefits and outcome
Understanding how Letters of Credit can work successfully will improve your success rate, leading to a ‘right-first-time’ presentation of documents, reduced bank charges and, above all, increased customer satisfaction.