This course is suitable for those working in International Trade and are involved in the management and presentation of Letters of Credit.

The course provides an overview of all methods of payment when trading internationally to include the risks and benefits involved. It will then concentrate on the Letter of Credit aspect guiding you through the rules of managing a letter of credit, making sure documents are compliant and payment is successful.

The agenda and course objectives are as follows:

• Foreign Currency Transaction Mitigation
• Methods of Payment – risks and benefits
– Advance Payment
– Documentary Collection
– Open Account
– Letter of Credit
• The Letter of Credit Process
– Terminology
– Advantages and Disadvantages
– LC Types
– UCP 600 Rules
– Management and Presentation of the Letter of Credit
• Incoterms 2020 and Insurance
• Shipping Documents
• Best Practice for L/Cs – Hints and Tips
• Practical Session

This qualifies for 2 credits in The Foundation Award in International Trade.